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Oct 9, 2004
What is a Real Estate Buyer's Agent?
A real estate buyer's agent represents the consumer who is purchasing the property in the real estate transaction - YOU. This agent owes full fiduciary responsibilities, duties and loyalty to the real estate buyer. The buyer's agent works for and is an advocate for you and has your best interests in mind throughout the entire real estate transaction process.
The Benefits of Using a Buyers Agent
Using a Buyers Representative offers you many benefits. He/she will:
? Evaluate your specific needs and wants and locate properties that fit those criteria.
? Assist you in determining the amount you can afford (pre-qualify) and show properties in that price range and your preferred locale.
? Assist you in viewing properties and either accompany you on the showings or preview the properties on your behalf to insure that the identified criteria are met.
? Research the selected properties to identify any problems or issues to help you in making an informed decision prior to making an appropriate offer on the property.
? Advise you on structuring an appropriate offer to purchase the property.
? Present the offer to the seller?s agent and seller on your behalf.
? Negotiate on your behalf to help obtain the identified property. Keep in mind that the buyer agent will be doing so with your best interests in mind.
? Review and explain all legal documents.
? Offer recommendations and assistance in securing appropriate financing for the selected property.
? Provide a list of potential qualified vendors e.g. movers, attorneys, carpenters if these services are needed by the.
Most importantly, you sould know that you are fully represented throughout the real estate transaction. After all, in most cases the seller is!
What is ABR??
The Accredited Buyer Representative (ABR?) designation is the benchmark of excellence in buyer representation. This coveted designation is awarded to real estate practitioners by the Real Estate BUYERS AGENT Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS? who met the specified educational and practical experience criteria.
The criteria are:
? Completed the comprehensive two-day REBAC course in buyer representation
? Successfully passed a written examination
? Demonstrated a practical experience of having completed five closed real estate transactions in the field of buyer representation. (We have done hundreds.)
? Received recommendations from two of the real estate practitioner?s buyer clients. (See our testimonials page.)
? Be a member in good standing of the NATIONAL ASSOCIATION OF REALTORS?
? Less than 1% of all Agents across the country have this ABR? status.
Look for those real estate agents that proudly display the ABR? designation and know that they are professionals in the field of buyer representation.
Who pays the Buyers Agent?
In most cases the Buyers Agent is compensated by sharing the commission that the seller has already agreed to pay their agent. The buyer can receive representation at no additional cost to themselves. Even in the case of NEW HOMES, make no mistake about it, the Sales Rep's in the Model Homes are highly trained representatives for the BUILDER, and are there to sell you their homes. Just as you can't go into a Chevy dealer and buy a Ford, these Rep's won't represent you. BUT, you can work with these Rep's and still have someone on your side! A Buyers Agent can look out for your best interests, show you the entire market, and still be paid from funds the builders have already set aside to market their homes.
Why should I use an ABR? to help me Buy a Home?
An ACCREDITED BUYER REPRESENTATIVE will:
? Respond honestly and accurately to all questions.
? Search all available properties - listed, for-sale-by-owner,foreclosures,and new construction - for homes appropriate to the buyer's needs and wants.
? Show suitable homes, specifying strengths and weaknesses.
? Provide guidance on best property values.
? Advise on local requirements for professional property inspection and warranties.
? Provide information for any services requested
? Arrange for property inspection.
? Confirm that needed corrections or repairs to the property have been completed.
? Research and analyze comparative financial data on neighboring properties.
? Offer broker opinions on value of properties under consideration.
? Analyze mortgage loan terms from multiple lenders and advise on the most favorable.
? Consult on appropriate offers to purchase.
? Submit offers promptly.
? Consult on counteroffers.
? Assist in choosing the closing authority and the title insurance company.
? Review HUD-1 settlement statement for accuracy.
? Retain strict confidentiality in every aspect of the transaction.
- We Represent You
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