An
Accredited Buyer Representative (ABR) represents the
buyer who is purchasing property in a real estate
transaction. Research by the National Association of
REALTORS has shown that when a buyer's representative is
used, the prospective buyer found a home faster and
examined more properties than consumers who did not use
a buyer's representative.
The buyer's representative works for, and owes fiduciary
responsibilities to, the real estate buyer and has
buyer's best interests in mind throughout the entire
real estate process. A buyer's representative will:
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Evaluate the specific needs and wants of the buyer and locate properties that fit their exact specifications.
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Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and locale.
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Assist in viewing properties -- accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met.
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Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
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Advise the buyer on structuring an appropriate offer to purchase the selected property.
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Present the offer to the seller's agent and the seller on the buyer's behalf.
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Negotiate on behalf of the buyer to help obtain the identified property -- keeping the buyer's best interests in mind.
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Assist in securing appropriate financing for the selected property.
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Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
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Most importantly, fully-represent the buyer throughout the real estate transaction.
Why
you should use an ABR!
Why should
you look for the ABR designation before looking for a
home? These three letters after a REALTOR'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 to those REALTORS who
have met the specific educational and experiential
criteria needed to provide the high level quality
service required by REBAC (Real Estate BUYER'S AGENT
Council).