Buying a home may be the largest and most complex financial transaction a person ever undertakes. Home buying is more than just finding a mortgage and picking out a house. The transaction involves offering a price that does not insult the seller. It’s about being fair to both sides. It’s about being sure the house has no uncorrectable defects. Simply stated, it’s about dotting every “i” and crossing every “t.” So how does a buyer do just that?
Given the opportunity, most homebuyers would prefer to find the most qualified real estate professional to help them navigate the complexities of the purchase. So who is the most qualified?
An Accredited Buyer’s Representative stands out in the crowd. The ABR® designation means that REALTOR® has the extra edge when it comes to knowledge and experience in representing the buyer in a real estate transaction.
Professional Requirements – The ABR® designation is only awarded to licensed real estate professionals who complete specialized training that gives them the edge in understanding a buyer’s perspective and protecting and promoting their buyer-clients’ interests. They must pass a written examination. But an understanding of classroom theory is just not enough.
Before earning the ABR® designation, a REALTOR® must also demonstrate proven experience in representing buyers. That means they must close a certain number of transactions. Those experiences give a buyer the assurance that the ABR® has a proven track record of success.
Maintaining the ABR® also means a personal commitment to maintaining their professional edge by staying current on the latest issues and trends in buyer representation. They do this by enrolling in continuing education that exceeds state licensing requirements. These courses all focus on issues of concern to a real estate buyer.
Served Not Sold – Buyers that work with an ABR® find themselves served rather than sold. Buyer interests become the interests of your ABR® REALTOR®. No real estate transaction is ever free of unexpected problems or unforeseen challenges. An ABR® uses experience to either eliminate those problems or reduce the stress associated with those challenges.
Buyer Expectations – Below are just some of the services that an ABR® provides to buyer-clients.
• Understands specific buyer needs and wants to locate appropriate properties.
• Assist buyers in determining how much house is within available within financial limitations (mortgage pre-approval).
• Accompany the buyer-client on all property previews.
• Advise buyer-clients in formulating a reasonable purchase offer.
• Develop and outline the parameters for the negotiating strategy.
• Provide a list of qualified vendors to complete the transaction. These include the home inspector, closing attorney, mortgage lender and so forth. A vendor could also include other key businesses based on unique transaction specific needs.
• Keep track of every detail throughout the transaction—to closing and beyond. This insures the transaction closes on schedule and completion of post-closing actions.
Not All Buyer’s Representatives Are Equal – Only a buyer’s rep who has earned the Accredited Buyer’s Representative designation made the extra effort to raise the bar with additional training and experience. It is a violation of the REALTOR® Code of Ethics to claim a designation not legally awarded or certified.
A homebuyer can feel confident of receiving the highest level of buyer-representation services, when working with a REALTOR® that possesses the ABR® certification.
The Real Estate Buyer’s Agent Council (REBAC), a wholly-owned subsidiary of the National Association of REALTORS® (NAR) awards the ABR® designation. REBAC can help any buyer locate an ABR®
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Andy Kalinowski is a REALTOR® and an Accredited Buyer’s Representative® with CENTURY 21 Doris Hardy and Associates, LLC in Columbus, Mississippi. He is also a member of the National Association of Realtors®. Contact him by cell (or text) phone – 662.549.3421 or by e-mail – andyk@dorishardy.com. He is also available for web video chat.
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