In the past, agents represented sellers. Recommended ABR practices go
beyond new real estate agency requirements and have become "The Benchmark of Excellence in Buyer Representation". ABR training recommends the following
business practices:
| A written contract between Agent
and Buyer |
- The term of the agreement shall be defined
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- Terms of payment arrangements shall be defined
(Usually seller not buyer pays)
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- Pre-approval of shift from single agency to
dual agency when legally necessary
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- A geographical search area defined when applicable
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- Commitment to confidentiality
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| After 25 years selling real
estate I have learned some lessons which I share with you when I think that experience
has some value to you. |
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If you have sold
a property you likely signed an exclusive listing. That agent represented you and
was bound to look after your best interests. I represent buyers the same way. You need to evaluate the
integrity and tenacity of one agent. Me. I am bound to look
after your interests.
I go beyond the spirit
and letter of agency laws by working together to locate the property and then helping you
negotiate favorable price and terms.
- I will research new listings on the market which
meet your specifications. Then I preview those listings and show (personally or electronically)
any property which we have pre-determined will meet your requirements.
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- Provide a thoroughly researched market analysis of
any property on which you want to make an offer
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- Research seller motivation for selling and time on
the market
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- Research the history of previous offers
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- Recommend an initial offering price.
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- Draft your offer subject to inspections and
provide a list of inspectors and their fees
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- Forecast the future value of the property for
years two through ten based on annual appreciation of 3% to 10%.
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- Most MLS forms have evolved from 40 years of
seller bias. Writing documents constitutes practice of law, which I cannot do. Listing agents
want offers on forms they are familiar with so it is not to your advantage to hire a lawyer to
create a separate buyer document. I can strike phrases and sentences and check boxes that
better serve your interests. The NWMLS forms committee members are resisting the idea that when an
buyer's agent picks up a buy/sell agreement that agreement needs to primarily represent
the buyer.
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The Accredited Buyer Representative (ABR) designation is awarded to those
members who have completed a prescribed 4-module course, passed a written examination and
a review board has examined and approved documentation of history of buyer
representation experience. Only
one-half of one percent of real estate practitioners nationwide have earned the coveted
ABR designation. Only 12,000 of us have spent the time and money to learn more about what
our buyers need from us as we enter the new millenium.
Members receive a monthly newsletter and
are included in a special membership directory which provides detailed information for
buyer agency referrals.
An annual education conference helps keep
us on our buyer agency toes.
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