Are you considering buying your first house & wondering how much a real estate agent charges? Well, the best part about the home buying process in Wisconsin is that is costs you NOTHING. Having a Realtor help you find & purchase your house will be FREE. In this blog I am going to go over the cost of using a Realtor here in the Appleton WI area!
Different Types of Buyer Realtor’s
Buyers Agency: With buyers agency the Realtor is representing you & only you as a “Client”. They have to be knowledgable on any material factors that might affect the transaction & also help you negotiate & price the property. With a buyers agent, you will more than likely get a better deal on the home as the Realtor is able to negotiate on your behalf.
However, for most Buyer agency agreements it does require you to sign a document stating that you are committed to working with that agent. Some buyers do not like this as they don’t want to be bound into an agreement. Along with the agreement, there is also compensation that they have to meet. The compensation is generally 2.4% of the purchase price. But, in the state of Wisconsin the seller pays a listing commission which in most cases covers the entire “buyer agency fee”. So again, it would be FREE!
Sellers Sub Agent: This is the only other option other than buyers agency. With this option the Realtor you are working with is still a sub agent of the seller. So what does this mean?
They can give you advise regarding the property, but now they are unable to help you price the property & negotiate on your behalf. It is also your responsibility to determine all material factors relating to the transaction. With a Realtor being a Sub Agent there is NO COMPENSATION agreement. Meaning, they will only get paid what the seller is offering them so you will never have to worry about paying your Realtor.
What is My Recommendation?
I normally do not force anyone into a buyer agency agreement because it might not be the right thing for them. I also believe that if our personalities do not match, I don’t want to be bound into a contract stating I “must” help you if we don’t get along.
In the beginning of every buyer relationship I try & keep it as casual as possible. I won’t bring any documents to sign or force you into anything. However, if you would like me to help you in the home buying process please feel free to fill out the form down below or call/text me at 920-252-2864