Why Use an ABR®- Accredited Buyer’s Representative
When Buying a Home, You Need a Professional Home Buyer’s Advocate On Your Side!
How often do you purchase real estate? Once, twice, three times in your lifetime? So you can hardly be expected to know all the ins and outs of such a major transaction complicated by so many details. In most transactions, sellers are represented by a listing agent who minds these details and their client’s best interests. As a home buyer, don’t you also want complete and fair representation in your real estate transaction? Real estate buyer’s representatives are responsible for protecting the best interests of their clients—buyers like you—and can guide you through every step of the process. So the first step, and perhaps the most important, is finding your buyer’s representative.
What is a Buyer’s Representative?
Defined most simply, a buyer’s representative (or buyer’s agent) is an advocate for the buyer—not the seller—in a real estate transaction. Real estate laws and regulations vary from state to state, but buyer’s representatives usually owe full fiduciary (legal) duties, including loyalty and confidentiality, to their buyer-clients and keep their best interests in mind through the entire transaction. In some states, consumer protection legislation has been enacted that defines the assumed relationship between a buyer and a real estate agent as that of client and buyer’s representative. If an agent is representing both home buyer and seller, the agent cannot provide full confidentiality to the home buyer since the same person is representing both buyer and seller
Why Use an ABR- Accredited Buyer’s Representative?
The two most important reasons to use a buyer’s representative are protection and efficiency. Most likely, the seller of whatever property you buy will be represented by a listing agent who can provide expertise throughout the transaction. Don’t you want the same kind of service as a buyer? A buyer’s representative can provide you with the expertise you need through the entire transaction. According to NAR research, buyers who work with a buyer’s representative also find their homes quicker, while viewing more properties in their search, than buyers who do not engage a buyer’s representative. If an agent is representing a buyer and a seller, who’s best interest is going to be served?
The ABR designation may only be used by a Realtor® that has taken and passed advanced education courses in home buyer representation, who have demonstrated experience in closing transactions representing home buyers, and who are current members of the Real Estate Buyer’s Agent Council