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DISCLOSURE OF REAL ESTATE AGENCY

1. WISCONSIN LAW (WI. ADM. CODE *RL 24.07(8) REQUIRES REAL ESTATE BROKERS TO DELIVER A COPY OF A WRITTEN

2. AGENCY DISCLOSURE FORM TO YOU PRIOR TO PROVIDING YOU BROKERAGE SERVICES. BROKER IS ALSO REQUIRED

3. BY LAW TO REQUEST YOU TO ACKNOWLEDGE RECEIPT OF A COPY OF THIS FORM BY INITIALING BELOW.

4 This is a disclosure of the duties a real estate broker owes to all parties in a real estate transaction under Wisconsin law (see

5 lines 7 to 24) and the duties owed to the broker's clients in the transaction (see 25 to 34). This form will also provide each party with

6 an area to identi information the party would wish to keep confidential in the transaction (see lines 35 to 49).

7 DUTIES TO ALL PARTIES - Wisconsin Statute section 452.133(1) states that in providing brokerage services to a party to a

8 transaction (including both clients and customers), a broker shall do all of the following:

9 (a) Provide brokerage services to all parties to the transaction honestly, fairly and in good faith.

10 (b) Diligently exercise reasonable skill and care in providing brokerage services to all parties.

11 (c) Disclose to each party all material adverse facts that the broker knows and that the party does not know or cannot discover

12 through reasonably vigilant observation, unless the disclosure of a material adverse fact is prohibited by law.

13 (d) Keep confidential any information given to the broker in confidence, or any information obtained by the broker that he or she

14 knows a reasonable party would want to be kept confidential, unless the information must be disclosed under (c) or Wis.

15 Stats. sec. 452.23 (information contradicting third party inspection or investigation reports) or is otherwise required by law to

16 be disclosed or the party whose interests may be adversely affected by the disclosure specifically authorizes the disclosure

17 of particular confidential information (see lines 50 to 53). A broker shall continue to keep the information confidential after the

18 transaction is complete and after the broker is no longer providing brokerage services to the party.

19 (e) Provide accurate information about market conditions that affect a transaction, to any party who requests the information,

20 within a reasonable time of the party's request, unless disclosure of the information is prohibited by law.

21 (f) Account for all property coming into the possession of a broker that belongs to any party within a reasonable time of

22 receiving the property.

23 (g) When negotiating on behalf of a party, present contract proposals in an objective and unbiased manner and disclose the

24 advantages and disadvantages of the proposals.

25 DUTIES TO A CLIENT - Wisconsin Statute section 452.133(2) states that in addition to his or her duties under lines 7 to 2, a broker

26 providing brokerage services to his or her client shall do all of the following:

27 (a) Loyally represent the client's interests by placing the client's interests ahead of the interests of any other party, unless loyalty

28 to a client violates the broker's duties under lines 7 to 24 or Wis. Stats. sec. 452.137(2) (duties to all clients in multiple

29 representation situations).

30 (b) Disclose to the client all information known by the broker that is material to the transaction and that is not known by the client

31 or discoverable by the client through reasonably vigilant observation, except for confidential information (see lines 13 to 18)

32 and other information, the disclosure of which is prohibited by law.

33 (c) Fulfill any obligation required by the agency agreement, and any order of the client that is within the scope of the agency

34 agreement, that are not inconsistent with another duty that the broker has under this chapter or any other law.

35 CONFIDENTIALITY NOTICE TO CLIENTS & CUSTOMERS A BROKER IS REQUIRED TO MAINTAIN THE CONFIDENTIALITY OF

36 ALL INFORMATION GIVEN TO THE BROKER IN CONFIDENCE AND OF ALL INFORMATION OBTAINED BY THE BROKER

37 THAT HE OR SHE KNOWS A REASONABLE PARTY WOULD WANT TO BE KEPT CONFIDENTIAL, UNLESS THE

38 INFORMATION IS REQUIRED TO BE DISCLOSED BY LAW (SEE LINES 13 TO 18). THE FOLLOWING INFORMATION IS

39 REQUIRED TO BE DISCLOSED BY LAW:

40 1) MATERIAL ADVERSE FACTS AS DEFINED IN SECTION 452.01 (5g) OF THE WISCONSIN STATUTES (SEE PAGE TWO).

41 2) ANY FACTS KNOWN BY THE BROKER THAT CONTRADICT ANY INFORMATION INCLUDED IN A WRITTEN

42 INSPECTION REPORT ON THE PROPERTY OR REAL ESTATE THAT IS THE SUBJECT OF THE TRANSACTION.

43 TO ENSURE THAT THE BROKER IS AWARE OF WHAT SPECIFIC INFORMATION YOU CONSIDER CONFIDENTIAL, YOU

44 MAY LIST THAT INFORMATION IN THE SPACE BELOW THAT IS MARKED .CONFIDENTIAL INFORMATION". A T A LA TER

45 TIME, YOU MAY ALSO PROVIDE THE BROKER WITH OTHER WRITTEN NOTIFICATION OF WHAT INFORMATION YOU

46 CONSIDER TO BE CONFIDENTIAL.

47 CONFIDENTIAL INFORMATION: ________________________________________________________________________

48 _________________________________________________________________________________________________

49 _________________________________________________________________________________________________

Notice: You may obtain information about the sex offender registry and persons registered with the registry by contacting the

Wisconsin Department of Corrections on the Internet at http://www.widocoffenders.org or by phone at 877-234-0085.

50 WAIVER OF CONFIDENTIALITY - Identify information which you authorize Broker to disclose but which might otherwise be

51 considered confidential, such as financial qualification information. The following may be disclosed by Broker:

52 NON-CONFIDENTIAL INFORMATION:

53 _________________________________________________________________________________________________

54 BY INITIALING AND DATING BELOW I/WE ACKNOWLEDGE RECEIPT OF A COPY OF THIS DISCLOSURE AND THAT

55 Bayview Real Estate, Inc and Gene Michaels are working as: ☐ Owner's Agent ☐ Buyer's /Tenant's Agent

56 BayView Real Estate, Inc, Gene Michaels, Associate Broker

57 INITIALING FORM TO ACKNOWLEDGE RECEIPT CREATES NO CONTRACTUAL OR OTHER LEGAL OBLIGATIONS OF ANY KIND.

58 _______ __________ _________________ _______ __________ _________________

59 Initials Date Print Name (Optional) Initials Date Print Name (Optional)

Wisconsin Statutes

452.01 (1e) "Adverse fact" means any of the following:

(a) A condition or occurrence that is generally recognized by a competent licensee as doing any of the following:

1. Significantly and adversely affecting the value of the property.

2. Significantly reducing the structural integrity of improvements to real estate.

3. Presenting a significant health risk to occupants of the property.

(b) Information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations under a contract or

agreement made concerning the transaction.

452.01 (5g) "Material adverse fact" means an adverse fact that a party indicates is of such significance, or that is generally recognized by a

competent licensee as being of such significance to a reasonable party, that it affects or would affect the party's descision to enter into a

contract or agreement concerning a transaction or affeCts or would affect the party's descision about the terms of such a contract or agreement.

Drafted by: Attomey Richard J. Staff - BayView Real Estate / 8254 Woodlane Rd / Sturgeon Bay WI 54235-9436

Phone: (920) 824-5353 Fax: (920) 824-5350 Rocky J. Marth BayView Real E T6072906.ZFX

Produced with ZipFonnTht by RE FonnsNet. LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035, (800) 383-9805 www.ziDfonn.com

As a buyer's agent:

I can do the following:

1. Spend company dollars on advertising for the specific property you desire.

2. Motivate over 1900 Realtors in NE Wisconsin to help find the specific property you desire because they will know that they will be paid

for their efforts if they are successful (co-broke fee we will pay them).

3. Motivate thousands of Realtors beyond NE Wisconsin (if needed) to help find the specific property you desire because they will know

that they will be paid for their efforts if they are successful (co-broke fee we will pay them).

4. Find the specific property you desire without a lot or maybe even none of your time because I will know that we will be paid for our

efforts if we are successful. You can even negotiate the price. I can make non-binding offers for you to set the purchase price that

will benefit you, subject to your final approval.

5. Provide market information to you, that will determine which property at what price will benefit you, not necessarily someone else.

6. Give you more of my time.

7. Share my real estate experience with you.

8. Teach you how to get the advantage in real estate matters.

9. Give you 24 X 7 service! Includes weekends and Holidays if needed or if most convenient for your time commitments (My wife, Pat,

does the same, as a registered nurse).

10. Provide a long lasting relationship of value (almost as good as marriage)! As your agent, we are dedicated to providing you with

service that is professional, courteous and responsive in helping you find a property. To fulfil this commitment, we agree to provide

you with the following services:

11. Consult with you to determine your particular real estate needs. We will help you define your financial ability to purchase, and

explain alternative methods of purchasing and financing.

12. Familiarize you with the community to help you with your neighborhood and property choices. This may include properties listed

with our office, properties not listed, as well as those offered through other real estate companies.

13. Explain local real estate procedures, including typical closing costs and purchase agreements.

14. Offer/ show properties in accordance with Fair Housing Regulations and ethical real estate practices.

15. Disclose material facts known about the property. Respond accurately to questions concerning the property.

16. Assist in arranging mortgage financing.

17. Assist you with arrangements for a variety of relocation services, and provide a referral which offers you the services of an associated

office in your hometown (where available) should you require assistance in selling your existing property.

18. Assist you in preparing a purchase agreement, and help facilitate the preparation and completion of all paperwork pertaining to the

purchase of your new property (as permitted by law).

19. Promptly present all written offers to sellers or their designated representative as prescribed by law or local practice.

20. Upon acceptance of an offer between you and the seller, monitor all pre-settlement (escrow) activities throughout the closing process

as permitted by law or local practice.

21. Keep you informed throughout the entire real estate purchase process.

It's time to make your decision. Please copy the form above, check ☐ Owner's Agent or ☐ Buyer's /Tenant's Agent, complete the other

areas and Email to: a-a@new.rr.com as soon as I receive the form, I will contact you (please add your name to the Email).

Buyers Need Real Estate Professionals in the Internet Marketplace

WASHINGTON (October 25, 2005)—The Internet has changed but not diminished the role real estate brokers play in helping buyers close real estate transactions successfully, a former president of the National Association of Realtors® told a workshop on competition in the real estate industry sponsored by the Federal Trade Commission and the Department of Justice’s Antitrust Division today.

“About three out of four buyers today use the Internet to search for homes, and those using the Internet are more likely to work with a professional than those who do not,” said Cathy Whatley, a REALTOR® from Jacksonville, Fla. who served as NAR president in 2003. One reason Internet buyers use professionals may be that the hardest task in today’s market is not to locate the property but to negotiate a successful purchase agreement with sellers who frequently receive multiple offers often exceeding list price and then bring the transaction to a successful close, she suggested.

“Providing buyers with information about the properties that are for sale, usually by consulting one of the nation’s 900 multiple listing services, is just one of the services real estate professionals provide. Once buyers identify the house they want to buy, they must be able to successfully negotiate a contract. If they are successful in getting their offer accepted, many other services are required in order to close the transaction. These include arranging inspections, mortgage application and approval, escrow, title insurance, coordination and scheduling of closing, ordering utilities, planning the move, etc. In most cases, participation of a broker/agent to assist the buyer throughout the process is very helpful, if not essential,” Whatley said.

Whatley also discussed the importance that the MLS plays in helping brokers serve buyers. “Without the MLS, it would be far less efficient--and therefore more time-consuming and costly--for buyers to be able to learn about all the properties available for sale in a given market,” she said. She appeared on a panel on real estate buyers.

Addressing another panel at the workshop, Lawrence Yun, a senior economist at NAR, said that real estate customers are free to choose from nearly 80,000 real estate brokerages and more than 2 million real estate licensees, about 1.2 million of whom are Realtors, who abide by the strict Realtor® Code of Ethics, and are members of NAR.

“America’s real estate industry is one of the most competitive business environments in the world, characterized by low barriers to entry, intense personal client service and a results-based compensation structure,” Yun said.

“Competition is fierce. Today’s consumer is bombarded with choices on television, radio, newspapers, and the Internet. They are enticed by offers of flat fees, rebates, and other incentives. In fact, discount brokerages and many innovative business models are doing very well in today’s real estate marketplace,” he said. He said that average real estate commission, as computed by Real Trends, have dropped from 5.5% in 1998 to 5.1% in 2003.

Yun cited a recent study by researchers at Pennsylvania State University that found that consumers in 12 residential real estate markets have more information, demand more services, and have more agents and business models to choose from than ever before. The study, undertaken by Professor Steve Sawyer, suggested that increased consumer access to real estate information online is redefining how consumers engage real estate services and may be contributing to the growth of real estate markets and a high level of competition. Potential sellers are more knowledgeable about property values, alternatives and service options.

Access to multiple listing service data may be creating better consumers who demand more of their real estate agents and other value-adding service providers.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1 million members involved in all aspects of the residential and commercial real estate industries.