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 BUYER’S AGENT Council (REBAC) of the National Association of REALTORS® who meet the specified educational and practical experience criteria.
It is my opinion that buyers and sellers deserve full representation. If you are looking to buy, you should insist on full representation and not settle for limited service from the seller’s agent.
Until you sign a Buyer’s Representation Agreement, the agent you meet at the open house, the listing agent, or the agent that is showing you houses is actually working for the seller. The non-listing agent is known as a sub-agent. Both the listing agent and a sub-agent have a duty to disclose any information shared by a potential buyer to the seller.
When the same agent is working for the seller and the buyer, this is called dual agency. A dual agent cannot share information or give full advice to either party because it might diminish the other side’s standing. This limits the service they can provide to both the seller and also to the buyer. When it comes to negotiating, this is especially true.
When you are considering buying a home, it is important to find an agent with whom you can work and one who knows buyers need their own representation. In California, you may get the representation you need without any additional fee, because it is the practice for the seller to pay for the buyers agent services. It just does not make sense not to have someone fully committed to your side through the entire real estate process – and especially during negotiations.
Mikel Springer has both the (ABR) as well as the Senior Real Estate Specialist (SRES) designations. He is a full time Realtor (for more than 7 years) is in the Windermere Rancho Mirage Office and works in the communities from Palm Springs to La Quinta. Contact information:www.MikelSpringer.MyWindermere.com and email address firstname.lastname@example.org