in Naples, FL
TEAM PLATINUM of NAPLES retains ABR® Service.
Buying a home is no small matter. Besides being the largest financial transaction, you may ever undertake, it’s probably also the most complex.
There are many good reasons to work with a qualified real estate professional—especially a trained professional who has earned the Accredited Buyer’s Representative (ABR®) designation, representing best-in-class buyer services.
When you look for an ABR® before you look for a home, you’ll be served, not sold. Your interests become their interests. And you’ll be working with someone who has gone the extra mile by completing specialized training in delivering the best in buyer-representation services.
Plus, a REALTOR® who has an ABR® designation also has an established track record, with proven experience in representing the concerns of homebuyers.
The ABR® designation is awarded through the Real Estate Buyer’s Agent Council, or REBAC, which was founded in 1988 to promote superior buyer-representation skills and services. REBAC is affiliated with the National Association of REALTORS® (NAR).
A buyer’s representative (or simply buyer’s rep) is a licensed real estate professional who represents prospective home buyers in their property transaction.
Joe Rothstein, a speech pathologist, decided he was ready to become a homeowner in 2010. He wanted to live in a neighborhood of Los Angeles County that was close to his clients — and, oh yeah, close to the beach. Click on the video below to see why he chose to work with an Accredited Buyer’s Representative (ABR®).
If you’ve formalized an agency relationship, typically by signing a buyer’s rep agreement with a buyer’s rep, you can expect him or her to:
· Understand your specific needs and wants, and locate appropriate properties.
· Assist you in determining how much you can afford (pre-qualify your mortgage).
· Preview and/or accompany you in viewing properties.
· Research properties, to identify any problems or issues you should consider.
· Advise you in formulating your offer.
· Help you develop your negotiation strategy.
· Provide a list of potential qualified vendors (such as inspectors, attorneys, lenders, etc.) for other related services.
· Keep track of all the details throughout the entire transaction—to closing and beyond.
A buyer’s rep should make your home buying experience go as smoothly and successfully as possible.
But not all buyer’s reps are equal. A buyer’s rep who has earned the Accredited Buyer’s Representative (ABR®) designation has made an extra effort to raise the bar, with additional training and experience in serving you, the homebuyer. If you work with an ABR®, you can feel more confident that you’ll receive the highest level of buyer-representation services.
What services can I expect to receive from an ABR®?
This depends on what level of service you have established as a homebuyer. If you have not formed an agency relationship, you are probably considered a customer, rather than a client, and you will likely receive a lower level of service. The terms vary from state to state, and each buyer’s representative can set their own guidelines within their state parameters and their brokerage practices. So you should clarify, preferably in writing, the services you are entitled to receive before you start viewing properties.
It’s also important to understand that if you do buy a home, your buyer’s rep will probably receive compensation (through the listing broker), regardless of whether you are a customer or a client. So more times than not, it’s in your best interest to formalize an agency/representation relationship, so you’ll receive the highest level of service possible. (Learn more about agency relationships.)
Will I pay more to be represented as a buyer?
In the vast majority of cases, the answer is NO. When a house is listed for sale, the seller’s contract spells out the commission rate that will be awarded to a buyer’s representative. This is known upfront and typically covers all, or at least most, of your representative’s compensation.
If it doesn’t, the choice is yours. You can scratch this house off your list, or decide to view it, knowing that any remaining compensation will need to be addressed. But even if the seller’s listing contract doesn’t entirely cover your buyer’s representative’s compensation, and you must pay the difference, it’s quite possible that these relatively small differences will be more than offset by other purchasing terms negotiated with the seller.
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Brent Jeansonne MS, GRI, ABR
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