REAL ESTATE ARTICLES
Why Hire An Exclusive Buyer Agent
In the Commonwealth of Massachusetts, an exclusive buyer agency agreement establishes an exclusive partnership between the home buyer and buyer agent. The buyer agrees to work exclusively with the buyer agent, similar to a Listing Agreement signed by a home seller and a listing agent hired to sell property. There are several advantages for the buyer and buyer agent.
Benefits To Home Buyer
* Buyer Agent represents the best interests of the buyer at all times, not the seller.
* Working with one agent makes most efficient use of time, avoids redundancy working with several buyer agents.
* Commitment from buyer agent to work for you in the town or towns designated in the agreement.
* Buyer Agent evaluates specific needs of the buyer and helps identify properties that best fit buyer specifications.
* Accompany buyer to property showings, and preview properties in advance to identify potential properties.
* Research property and help buyer perform due diligence to identify concerns.
* Help buyer make an educated decision prior to making an offer to purchase.
* Advise the buyer with offer process and all contingencies available for buyer protection.
* Negotiate on behalf of the buyer and offer proven negotiation strategies.
* Refer reputable service providers (movers, attorneys, carpenters, etc.) if needed.
* Help the buyer throughout the entire purchase and sale process until Closing.
Benefits to Buyer Agent
* Establishes formal working relationship between buyer and agent throughout the transaction.
* Commitment that the buyer will work exclusively with the buyer agent should the buyer decide to purchase a property.
* Ensures agent will be compensated for services provided in the form of commission if and when the buyer purchases property.
ABR Accredited Buyer Representative
The Accredited Buyer Representative ABR designation is the benchmark of excellence in buyer representation. This coveted designation is awarded to real estate practitioners by the Real Estate Buyers Agent Council (REBAC) of the National Association of Realtors who meet the specified educational and practical experience criteria. Visit their website rebac.net for more helpful information.
When you are ready to buy property, know your rights as a home buyer before interviewing several Realtor candidates to represent you as a Buyer Agent. Keep in mind that every Realtor works differently and may provide different levels of service to their clients, even within the same brokerage firm.
Copyright Tamela Roche, Realtor