The Accredited Buyer Representative (ABRŪ)
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 REALTORSŪ who met the specified
educational and practical experience criteria.
The criteria are:
the comprehensive REBAC course in buyer representation
passed a written examination
a practical experience of having completed five closed real estate
transactions in the field of buyer representation.
recommendations from two of the real estate practitioners buyer
a member in good standing with the NATIONAL ASSOCIATION OF REALTORSŪ
Look for those real
estate agents that proudly display the ABRŪ
designation and know that they are professionals in the field of buyer
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
fiducary 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
Most MLS listed properties offer full commission
to Buyer's Agents. In some cases 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 REALTORŪ 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 REALTORSŪ 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
The Benefits of Using a Buyers Agent
Using a Buyers Representative offers the consumer many benefits.
the specific needs and wants of the buyer and locate properties that
fit those specifications.
the buyer in determining the amount that they can afford
(pre-qualify) and show properties in that price range and locale the
consumer has determined.
in viewing properties and either accompany the client on the
showings or preview the properties on behalf of the client to insure
that the identified specifications are met.
the selected properties to identify any problems or issues to help
the consumer in making an informed decision prior to making an
appropriate offer on the property.
the client on structuring an appropriate offer to purchase the
the offer to the sellers agent and seller on the clients behalf.
on behalf of the buyer client to help obtain the identified
property. Keep in mind that the buyer agent will be doing so with
their clients best interests in mind.
and explain all legal documents to their buyer client.
and assistance in securing appropriate financing for the selected
a list of potential qualified vendors e.g. movers, attorneys,
carpenters if these services are needed by the consumer.
Most importantly, the
buyer would know that they are fully represented throughout the real