What does the Accredited Buyers Representative, (ABR) designation mean and is it something I should consider when choosing a Realtor?
Buying a home is unlike any other purchase. Before you assume you can do this on your own, consider why it may be smarter to work with an Accredited Buyer’s Representative (ABR®)such as myself.
- A skilled professional will be covering your back.
In real estate transactions, having representation (either as a buyer or seller) means that an industry professional is obligated to protect and promote your interests, including keeping certain information confidential and sharing information with you that might benefit your position.
Without buyer representation, you could find yourself working with an agent whose loyalty is aligned with the seller! (Note that the laws on representation and how it is established vary from state to state.)
Accredited Buyer’s Representatives have gone a step further, completing specialized training in the best practices for buyer representation. An ABR® stands out in the crowd!
- You’ll simplify many complex aspects of your transaction.
Let’s face it. If you aren’t already familiar with complex real estate contracts, disclosure forms, and mortgage applications, these documents can be confusing and daunting. Most buyers genuinely appreciate having a knowledgeable resource to answer their questions.
- You’ll be working with an up-to-date expert.
An ABR® designee has completed special coursework and passed a certification test in buyer representation, which means they have a keen understanding of their duties and obligations, as well as an appreciation for buyers’ concerns. Further, they are committed to maintaining their professional edge by staying current on the latest issues and trends in buyer representation.
- You’ll know your buyer representative has proven experience.
One qualification of earning the ABR® designation is proof of completed transactions with other homebuyers. It’s impossible for an inexperienced real estate agent to obtain the ABR® designation.
- You can improve your negotiating results.
Deciding on an offer price for a house is tricky business, requiring careful analysis of other comparable homes for sale, recently sold homes, and other market factors. Plus, your offer price is just one facet of your negotiating strategy.
An Accredited Buyer’s Representative can advise you on every negotiating detail, including counseling you on the pluses and minuses of various contingencies. They can also present your offer to the sellers in the best possible light and help navigate counter-offers, improving your chances of getting the results you want.
- You can get a higher level of service without paying more.
In the vast majority of circumstances, listing agreements are structured so that a buyer’s agent’s commission is paid out of the seller’s proceeds. In the rare instance where this is not the case and the buyer must pay their agent’s commission, you still have options.
You can tell your buyer’s rep that you don’t want to see that home (or any others like it). Or you can decide to view it anyway, with the understanding that you’ll need to cover their commission if you proceed on a purchase.