Milwaukee Condo & Real Estate Scene

Frequently Asked Questions

David, I see that your tagline is "Lives Downtown. Knows Downtown." Does this mean you can assist buyers and sellers only in the downtown market?

No. My tagline is only used for my marketing materials. I chose this tagline because I live downtown and know the ins and outs of the downtown market, but I am also an expert in real estate elsewhere. As a licensed real estate salesperson in the state of Wisconsin, I can assist buyers and sellers in any real estate transaction (from vacant land to commercial/business opportunities) anywhere in the state and beyond. For example, if you are planning to relocate to another part of the state or country, contact me first. I can help introduce you to another agent in other parts of the country through our vast relocation network.


If I am selling my house through a REALTOR(r), may I use the same agent to help me purchase a house?

Yes! It is ethical practice for a single REALTOR(r) to assist in multiple transactions for the same party. As a seller, hopefully you trust your REALTOR(r) to market your house appropriately. Since you have established this trusting relationship with your REALTOR(r), it makes sense to continue your professional relationship with the purchase of your new home. Your REALTOR(r) already has an idea of your perfect house. With this one-stop shopping approach, you don't need to explain your interests twice. In fact, your REALTOR(r) would appreciate the opportunity to work with you in multiple transactions.


I am a first-time homebuyer. What are the advantages for owning your own home?

Traditionally, the answer is two-fold...building equity in your house and taking advantage of tax savings. There are two functions for building equity: (1) Over time economic forces increase the market value of your investment and (2) paying down the principle amount of your mortgage. Homeowners also take advantage of huge tax savings: Allowable deductions for mortgage interest and real estate taxes are the most common types of tax planning activities. In addition, first-time homeowners may also qualify for the Wisconsin Housing and Economic Development Authority (WHEDA) loan program. Contact your lender to determine if you qualify for this outstanding state loan program.


Why would I need the assistance of a REALTOR(r) when I can conduct my own research using realtor.com?

Assuming you are a buyer, there are several reasons why you should seek assistance from a REALTOR(r).

One, the Multiple Listing Service database that REALTORS(r) have access to is always on-line. The information you obtain from realtor.com may not always be updated for any changes in the market. Personally, I have had a few buyers ask me to schedule showing appointments for houses that have accepted offers or have been removed from the real estate market. Realtor.com doesn't always provide you with the most up-to-date information.

Second, if you are a buyer, you generally do not owe a cent for working with a REALTOR(r). In the state of Wisconsin, the seller is responsible for paying the Realtor's commission. Therefore, as a buyer, you have nothing to lose with working with a REALTOR(r).

Finally, a REALTOR(r) can assist you with the negotiations during the transaction. It is my job to assist buyers with scheduling the home inspection, obtaining the financing programs required for purchasing a home, and arriving to the closing without any additional worries. My job is to get you from point A to point B...safely.


Future questions...

I invite you to ask questions about the real estate industry and about the level of service I am able to provide. Please send your questions to dray@shorewest.com. I will post answers to all of the questions in the upcoming semi-monthly newsletter.

posted by David Ray @ 7:17 PM