Is the Buyers Agent Accredited, Certified and/or Exclusive?
Self-Proclaimed Buyers Agents – So what are their credentials? Are they Exclusive, Certified or Accredited? You need to find out to protect yourself and avoid the limitations of “Dual Agency” which is basically a conflict of interest on the part of some “self-proclaimed buyer agents”. You will also find it helpful to ask up front if the REALTOR® claiming to be a Buyer’s Agent has additional training and is a home buyer specialist.
You may also want to ask if this so-called Buyers Agent will be trying to sell you one of their own company’s listings. Of course you want to see all listings that match your needs, but be aware of the obvious conflict of interest if your so-called Buyers Agent is hanging their license with one of those large well know “Traditional” real estate companies that have a lot of properties listed for sale. The larger the company and the more listing they carry, the greater chance they will be in the position of trying to represent you and the seller at the same time. Not Good! Not Really Possible!
You really have 2 good choices for a Buyers Agent:
An Accredited and/or Certified Buyers Representative, also known as an ABR or CBR is an excellent choice, particularly if they work at a small independent company that has less that 1% of the listings on the market. This way you know you have at least a 99% chance they can provide 100% loyalty and the very best presentation when you are buying your home or other real estate. Importatly, the agent in The Real Estate Savings Center Network have also earned other Designations such as ePRO real estate professional and Graduate of the Realtor Institute (GRI) so they are well prepared to assist you if you need to sell before or after buying your property.
Your other good choice is an Exclusive Buyers Agent, (EBA). They can offer you 100% loyalty on all properties because their company doesn’t take any listings at all. The biggest drawback with this type of buyer’s agent is that they can’t help you sell before you buy or sell later when it is time to make a move.
Each Buyer’s Agent associated with The Real Estate Savings Center Network is an accomplished real estate professional. There are Accredited, Certified, and/or Exclusive. The big bonus here with a Buyers Agent associated The Real Estate Savings Center is that in 40 states and Canada they can provide you with a significant Cash Rebate and/or Credit at the Closing of your sales transaction. Please Bookmark and check back often as we continue to add a top buyer’s agent to our network in cities across North America.
So, why do you need a Buyers Agent? Because, unless you have extensive experience buying homes in your local area or your destination city, a Buyers Agent offers you a much more secure and cost-effective way to buy a home or other real estate. A Real Estate Buyers Agent or Buyer’s Broker can work as your advocate to save you time and money throughout the entire real estate transaction.
How Much Does a Buyers Agent Cost? – Nothing Extra, and that’s another benefit! The price you pay for the home or other real estate you choose typically includes a fee for two Agents: the agent representing the seller (Listing Agent) and the agent representing the buyer (Buyer’s Agent). Since the price of the property you are purchasing normally includes a commission for both agents, it makes good sense to take advantage of this typical MLS (Multiple Listing Service) arrangement by selecting a Buyer’s Agent to work as your Realtor and real estate advocate.
If you are thinking you can go it alone and save a Buyers Agent commission you may be right, but probably not. Even if your can strike a deal with the listing agent or the seller for a 2.5% or 3% discount because you are not working with an agent, chances are you will be leaving a lot of money on the table that a good buyer’s agent would have saved you, and you won’t know until the deal is done.
Real Estate Buyers Broker – A Buyers Agent ( These excerpts from Wikipedia, the free encyclopedia have been edited):
A Real Estate Buyers Broker represents the best interest of buyers of real estate and attempts to not only find the best property to meet the buyer’s needs but also is obligated to work as the buyer’s advocate and to get the buyer the best price and the best terms on the property that best suits their needs. In the United States, the relationship was originally established by reference to the English common law of agency with the broker having a fiduciary relationship with his buyer clients.
Other real estate brokers and their sales people (commonly called “real estate agents”), assist sellers by listing and marketing their property, and then selling it for the highest possible price and best possible terms. When acting as a Buyers Agent with a signed agreement, these Realtors assist buyers by helping them purchase property on a level playing field. Always make sure you have a written buyer agency agreement, because if you do not then Realtors, Brokers, and Agents may assist buyers in the acquisition of property while representing the seller and the seller’s best interests. SO IT IS VERY IMPORTANT THAT ASK YOUR AGENT FOR A WRITTEN AGREEMENT THAT PROTECTS YOU FROM CONTRACT TO CLOSING!
In most states, until the 1980s, buyers who worked with an agent of a real estate broker in finding a house were customers of the brokerage, since the real estate brokers represented only sellers. Today, state laws differ. Buyers and/or sellers both may be represented. A written “Buyer Brokerage” agreement is typically required for the buyer to have proper representation (regardless of which party is paying the commission).
Buyers as Clients – A real estate brokerage attempts to do the following for the buyers of real estate only when they represent the buyers with some form of written Buyer Brokerage agreement:
1. The buyer’s agent acts as a fiduciary for the buyer.
2. Find real estate in accordance with the buyers needs, specifications, and affordable.
3. Takes buyers to and shows them properties available for sale.
4. When deemed appropriate, pre-screens buyers to ensure they are financially qualified to buy the properties shown (or uses a mortgage professional to do that task).
5. Helps to negotiate price and terms on behalf of the buyers and prepares standard real estate purchase contract by filling in the blanks in the contract form.
Also Consider this about Real Estate Agents: In many jurisdictions, particularly those in the United States, a person is required to have a license in order to receive remuneration for services rendered as a real estate broker. In particular, any of the following descriptions could refer to a real estate broker in the USA:
– A licensed person owning, managing, or being in charge of a real estate brokerage firm, even if the broker just works for him – or herself.
– The real estate brokerage itself: the brokerage is the firm or business of the broker which can also be called a real estate agency.
– A licensed real estate professional who has obtained a broker’s license (which entitles them to operate a real estate brokerage). By default, a real estate broker of this kind has already met the requirements of “salesperson” or “agent” licensing. A real estate broker can still be designated as such without owning a real estate brokerage.
– Some people may refer to any licensed real estate agent as a real estate broker. However, a licensed real estate agent is a professional who has obtained either a real estate salesperson’s license or a real estate broker’s license. Sales people work under the guidance of a Broker who is ultimately responsible for the salesperson’s actions as an agent. Therefore real estate agent are agents of the broker who is the real agent for the client.
– A Realtor is a real estate agent or a real estate broker who has taken their professionalism to the next step by committing to a Code of Ethics. Only about 50% of real estate agents are Realtors. The choice it up to you! Do you want to work with a real Realtor or a real estate agent?
A Buyer’s Agent, A Seller’s Agent, Best Home Search, The MLS Search Engine, Best House Builders and the Best Mortgage Loans are some of our network website domain names all working together as integral parts of The Real Estate Savings Center Netwrok. As a network, we are designed to provide real estate consumers with a “One Stop” solution for a better deal when buying a home or other real estate just about anywhere in the United States or Canada. If we are not yet in your local area, you can fill out a short request form below and we will add a Savings Center for you city promptly as long as it has a population of 50,000 or more people.
IMPORTANTLY – If you are already under contract with another Realtor, Buyer’s Agent or Relocation Company, please stay with them, as this website and the information provided herein is not a solicitation to get you to change real estate agents or companies.
If you are not working with another real estate professional, you may want to submit this short form to find out about the significant savings being offered in your hometown or your destination city.