Accredited Buyer Representation is crucial to an equitable home purchase

The Importance of Buyer Agency

What is Buyer Agency?

Most real estate companies use the traditional brokerage system, with all the real estate brokers and their agents working for the seller. Their duty is to represent the seller's best interests, which includes negotiations for the highest price possible and structuring the transaction to the seller's advantage.

Buyer Representation is a welcome opportunity for buyers to get the representation they deserve. Under the Buyer Brokerage system, the agent who sells you the home is your agent and has the duty of representing your best interests, not those of the seller. I will negotiate for the lowest price possible and structure the transaction to your advantage.

"Need An Agent?"
Hire a Pro, Strategies for Buyers, April 1998, pg 88
- Kiplinger's Personal Finance Magazine

"Get an advocate on your side. It's commonplace now for buyers to sign up their own agents to represent their interests in a deal. Look for a buyer's broker who will represent you -- and only you."

"One credential to look for is an Accredited Buyer's Representative (ABR) designation from the Real Estate Buyer's Agent Council, a REALTOR^® group. The 9,000 agents nationwide who hold the ABR designation have passed a two-day training program and written exam, and have been buyer's representatives in at least five closed transactions. You can search for a real estate agent with the ABR designation on the internet (www.rebac.net), or call 800-648-6224 for a referral."
©1998 Kiplinger's

Working with an agent who represents you has many advantages

	Seller's Agent	Buyer's Agent
Arranges property showings
Assists with financing
Provides accurate information
Explains forms
Monitors closing activities
Gives you advice and counseling
Keeps your position confidential
Negotiates price and terms favorable to you
Gives you reasons NOT to buy the seller's property
Discloses confidential information about the seller
Honestly evaluates property value without obligation to the seller
Writes an offer to your advantage
Exposes you to the entire market - both listed and unlisted properties
Offers the greatest agent commitment

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. This agent owes full fiduciary responsibilities, duties and loyalty to the real estate buyer. The buyer's agent works for the buyer client and has the clients best interests in mind through out the entire real estate transaction process.

The agent is compensated by the buyer through a negotiated fee or in some states the commission is split between the buyer's and seller's agents based on the selling price of the real estate property. It is important for the consumer to discuss the buyer agent's compensation in the initial interview. In many cases it is recommended that the consumer and buyer agent agree to the terms of compensation prior to viewing real estate properties and sign a written agreement based on these terms. This agreement should spell out the responsibilities of both parties throughout the real estate transaction. It is important to note that in some states, legislation has been enacted to protect the buyer to the point that absent a written agreement the agent represents the buyer throughout the real estate transaction. Consult your local REALTOR^® for complete details when you first start the search for purchasing any real estate property.

Why use a Real Estate Buyers Representative?

As a consumer, how often do you buy real estate property? Once, twice, three times in your lifetime? Purchasing real estate is a complex and major transaction with many details to be handled. In the majority of cases the seller will be represented by an agent. Wouldn't you want to have complete and fair representation in the real estate transaction?

The real estate buyer agent is responsible to protect their clients' best interests. Research by the NATIONAL ASSOCIATION OF REALTORS^® has shown that when a buyer agent is used, the prospective buyer found their home one week faster and examined three more properties than those consumers who did not use a buyers agent.