Buying a home may be the largest and most complex financial transaction you ever undertake. If you’re ready to buy a home, wouldn’t you prefer to work with the most qualified real estate professional you can find?
An Accredited Buyer’s Representative stands out in the crowd. If your Realtor holds the ABR designation, you can trust that they have the extra edge when it comes to KNOWLEDGE AND EXPERIENCE.
Why?
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-client’s interests. Before earning the ABR designation, buyer’s reps must also demonstrate proven experience in representing buyers. Further, they are committed to maintaining their professional edge by staying current on the latest issues and trends in buyer representation.
When you work with an ABR, you’ll be served, not sold. Your interests become their interests. They’ll make your home buying experience go as smoothly and successfully as possible.

You can expect your ABR 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
• Advise you in formulating your offer
• Help you develop your negotiating strategy
• Provide a list of qualified vendors (inspectors, attorneys, lenders, etc.) for other services you may need
• Keep track of every detail throughout the transaction-to closing and beyond

Not all buyers’ representatives are equal. Only a buyer’s rep who has earned the Accredited Buyer’s Representative designation has made the extra effort to raise the bar, with additional training and experience. If you work with an ABR, you can feel confident that you’ll receive the highest level of buyer-representation services.
The ABR designation is awarded by the Real Estate Buyer’s Agent Council (REBAC), a wholly-owned subsidiary of the National Association of Realtors (NAR) and this information was obtained through the REBAC website.
I have earned the distinguished ABR designation because it is important to me that I educate buyers and help them get the most house for their money and help them to make the best financial decision when purchasing a home.

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If you’ve started looking for a home-and a real estate professional to assist you-your buyer’s representative may ask you to sign a Buyer Representation Agreement. What is this form? Why should you sign it?
A Buyer Representation Agreement is a legal document that formalizes your working relationship with a particular buyer’s representative, detailing what services you are entitled to and what your buyer’s rep expects from you in return. While the language used in the document is formal, homebuyers should view it as an important and helpful tool for clarifying expectations, developing mutual loyalty, and most importantly, elevating the services you will receive.
1. Receive a higher level of service. If you’ve formalized an agency relationship with a buyer’s rep, you can expect to be treated like a client instead of a customer. What’s the difference? Clients are entitled to superior services, relative to scustomers. While the details vary from state to state, and from one buyer’s agent to another, you can generally assume that being a client means that you’ve formed a fiduciary, or agency, relationship with your buyer’s rep.
2. Get more without paying more. In almost every case, home sellers have already agreed to pay a buyer’s agent’s commission. If they haven’t you can ask your buyer’s rep to avoid showing you any such homes. Or you can still view the home, knowing that you’ll need to factor your agrent’s commission into any offer you may write. While buyers rarely pay rela estate commissions, this is an important details you’ll want to discuss with your buyer’s rep and clarify in their representation agreement.
3. Avoid misunderstandings. A Buyer’s Representation Agreement clarifies expectations, helping you understand what you should and shouldn’t expect from your buyer’s rep, and what they will expect from you, which usually centers on loyalty.
4. Agency relationships are based on mutual consent. While most representation agreements specify a time period, they can be terminated early if both parties consent. Most buyer’s reps are willing to end the agreement early if the working relationship isn’t going well. Some buyer’s reps also offer representation agreements for as little as one day, for the purpose of giving both parties a brief trial period to explore working together.
5. Strength as a team. When you and your buyer’s rep work together within a formalized agency relationship, you have created a team dedicated to helping you achieve the best possible home-buying experience.
The ABR designation is awarded by The Real Estate Buyer’s Agent Council (REBAC), a subsidiary of the National Association of Realtors (NAR). This information was obtained from the REBAC website. Note that not every state requires a signed Buyer’s Representation Agreement to create an agency relationship. In some cases, an agency relationship can be formed if both parties simply behave as if one exists. I hold the ABR designation because I feel it is so important for my buying clients. I want to represent them better than anyone else can!

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The ABR offers it’s members a Buyer’s Rep publication that provides members with industry news and updates each month. In the February 2010 edition there’s an article written by Melanie McLane, who is both a broker and a residential appraiser. Her insight is very informative, so I want to share it with my readers. I have summarized her article below.
The work of appraisers has been turned upside-down over the last year due to changes in the industry forced on them by the mortgage crisis taking place nationwide. Most of the changes in policies, procedures, and regulations over the past year have been detrimental for the appraisal industry. This also causes problems for real estate agents and their buyers.
How did this happen? First, in 2007 New York Attorney General Andrew Cuomo filed a lawsuit against First American Mortgage charging they allowed WaMu (Washington Mutual) to improperly pressure appraisers who would appraise at the value needed. In March 2008 Fannie Mae and Freddie Mac agreed to adopt new loan appraisal policies. May 1, 2009 The Home Valuation Code of Conduct (HVCC) became effective for all single-family mortgages (except government-insured loans) delivered to Fannie Mae and Freddie Mac. Feb 15, 2010 was the effective date for HUD’s version of HVCC. November 1, 2010 the original HVCC agreement is set to sunset on this date.
HVCC was designed to improve the integrity of the appraisal process, but several unintended negative consequences have occurred. Appraisal Management Companies take about 40% of the fee from appraisers and expect the appraisals to be completed quickly. This is leaving many appraisers disgruntled. The AMC’s send out bulk requests and the job goes to whoever applies first, which might not be the best appraiser for that particular area. AMC’s, for the most part, remain unregulated in most of the country. To make matters worse, most AMC’s are owned by banks! So are they really a firewall between the lenders and the appraisers?
So how does all of this affect you, the consumer? The quality of appraisals is down, so some buyers may overpay for houses. On the other hand, some appraisals are off in the other direction, causing sellers to lose money. Having an outside party AMC is actually slowing down the appraisal process and causing appraisals to take longer and closings to take longer.
You can learn more about HVCC at http://www.realtor.org/hvcc . I encourage my buyers to use lenders I recommend because I know those lenders because using a lender you don’t know anything about, could cost you your next home. Do not use internet lenders for a something as important as a mortgage! You can ask your lender, when looking for the best loan option, whether they use AMC or do they have an independent appraisal department. Also, how is the lender going to ensure an appraiser with geographic competency. Have local appraisers refused to work for your AMC and if so, why? These are all things you, the borrower, can ask your lender before they order an appraisal.
As a courtesy to my sellers, I include a list of upgrades for the appraiser. I also have the appraiser contact me to schedule the appraisal visit, so that I can talk to him and get his email address and send him a copy of the contract so he knows the purchase price. I also want to know if that appraiser is familiar with the area and has done appraisals in that area before. I want to be able to contact him directly if the house does not appraise in case he overlooked something.
The National Association of Realtors and others have been working to implement a moratorium on HVCC, but right now it is still set to go into full effect on November 1, 2010.

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1. Homes are bought by comparison. I have a large inventory at my disposal through MLS while you have an inventory of one.
2. I am very familiar with competitive houses so I can help you position your home well.
3. It is hard negotiating for yourself. I have ltos of experience in writien contracts and can negotiate agressicely on your behalf.
4. Buyers are not always forthright about their financial situation. I insist on pre-qualifying before I even bring you an offer.
5. My lender contacts and mortgage experience help buyers get the financing they need.
6. Most buyers don’t want to tell the seller why they don’t make an offer. I can probe the buyer or his agent for that information.
7. Any follow up you do with a buyer can be seen as desperation I follow up as part of my job so that you are not perceived in a compromising light.
8. I can showcase your improvements better so that you don’t apprea like you are “selling.”
9. Most sellers who spend their time as a For Sale By Owner end up by listing in the end. A recent NAR survey found that only 11% of sellers nationally ended up selling by owner. Why spend your time and money if in the end you will hire a Realtor?
10. Unqualified buyers can tie up your home. I make sure that doesn’t happen.
11. Personality conflicts with a buyer can get in the way. I comne between the buyer and the seller so that personalities don’t enter it.
12. Most buyers use a Realtor, which increases the number of buyers who will see your home.
13. I can mobilize my company agents and other area Realtors on your behalf.
14. An NAR survey of recent closed sellers found that Relator-assisted sales brought in 20% more sales price than For Sale By Owner sales.
15. A FSBO sign makes you vulnerable for any curious seeker or unsavory character. When you list, only buyers accompanied by a Realtor will get into your home.
16. Being accessible to show your home limits your personal time and cuts down the available showing time. When you list, your property will be available during normal showing hours and the prostpect will always be accompanied by me or another Realtor.
17. Additional exposure through MLS and the Internet brings you a higher price.
18. I orchestrate the contract-to-closing process, including the appraisal, buyer-loan process, title, inspections, pest control, survey, etc., by taking this burden off of you.
19. I make sure that you are compliant with all laws relating to the sale of your home.
20. I only get paid when I get the job done.

I have access to this information and much more because I am a Realtor and I have obtained the GRI (Graduate Realtor Institute) Designation. This information is from the Texas Association of Realtors Website.

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Ever wonder what the new home trends are going to be?  Well, the National Association of Home Builders (NAHB) surveyed builders earlier this year and learned that 9-foot ceilings on the first floor were one of builders’ top ten priorities.  The research conducted found that whole-house efficiency is important to consumers and that has meant the death of the two-story family room atrium.  Open floorplans are still desirable and builders are adding larger laundry rooms and additional mud rooms which are helping to bring much-desired order to life at home.  For energy efficiency, consumers want low-e windows, programmable thermostats, and energy-efficient appliances.  Walk in closets are still in demand as well as seperate tub and showers in the master suite.  However, you won’t be seeing many outdoor kitchens or fireplaces, sunrooms, butler’s pantry, or media rooms. 

This information was extracted and paraphrased from the Buyer’s Rep – A publication of the Real Estate Buyer’s Agent Council, Inc. which is part of the National Association of Realtors. 

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