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Buyer's Representation

Why You Should Use A Buyer's Agent Who Is An Accredited Buyer's Representative (ABR)?

Because the best way to be certain that an agent is working in your best interest is by entering into a buyer representation agreement with them. A buyer's representative represents the consumer who is purchasing property, not the seller. Although state law varies, a buyer's representative usually works for and owes fiduciary responsibilities to the real estate buyer. It is the buyer representative that has buyer's best interests in mind throughout the entire real estate transaction.

Why should you look for the ABR designation before looking for a home? These three letters after an agent's name tell you that you will be working with buyer representative who is committed to your best interests. The ABR designation is awarded by REBAC (Real Estate Buyer’s Agent Council) to those REALTORS® who have met the specific educational and experiential criteria needed to provide the highest level of quality service.

What Does A Buyer's Agent Cost?

Like any other real estate fee, the fee for a buyer's agent is usually built into the purchase price of a home and disbursed at closing. Hence, there is generally no additional cost for a homebuyer to use a buyer’s agent. As a matter of fact, studies suggest that professional buyer's agents help buyers save both time and money. Further, in a typical transaction, a portion of the money you, the buyer, brings to the table goes to the listing broker to compensate two agents (the listing agent and the agent who works with the buyer). Why not have the one working with the buyer be one that represents you? Doing so, you'll have the benefit of advice and support from an industry professional who would otherwise be legally obliged to team with the listing agent in order to get the seller the best possible price and terms for their property.

What Other Advantages Does Using A Buyer’s Agent Have?

• Buyer's agents have an obligation to show the entire inventory of properties, including those in the Multiple Listing Service, for sale by owner (FSBO) properties, bank-owned properties, properties offered at auction, and new construction to their clients.
• Often, an experienced buyer's agent creates a network of real estate related experts who have done quality work for their clients in the past. This network may include attorneys, mortgage professionals, appraisers, engineers, architects, contractors, and home inspectors.
• Additionally, a buyer's agent's due diligence and intensive research help to eliminate costly mistakes or hidden surprises for the homebuyer. Some even arrange for discounts on inspections or other professional services for their clients.

The job of a buyer's agent is not to sell any particular property, but to represent the best interests of the buyer/consumer throughout the home buying process. A buyer's agent helps consumers make smart decisions as negotiate the home buying process toward closing day.

Professional Real Estate Designations Earned By Joe Schutt

Real Estate Designations