Buyer Representation--What Every Buyer Should Know!

 

 

So What Exactly is Buyer Agency?

When you're buying instead of selling, it's important to obtain representation.  Buyer Agency is a legally-defined working relationship in Colorado.  The Buyer's Agent is an advocate for the Buyer, while the Listing Agent typically represents the Seller.  Buyer Agency includes written fiduciary (legal) duties, including loyalty and confidentiality.  The Buyer's Agent works in the client's best interests throughout the transaction.  

Why Should I Use a Buyer’s Agent?

Most likely, the seller of whatever property you’d like to buy will be represented by a Listing Agent or Seller’s Agent.  Don’t you want the same kind of service as a buyer?  

Representing the homebuyer is a distinction that can save you time, money, and effort. Exclusive representation is AT NO COST to the Buyer (i.e. a percentage of the brokerage fee paid to the listing brokerage is offered to the Buyer's Agent through the cooperative MLS).    As your Buyer’s Agent I will:

  • Represent you as a true client, not just a customer
  • Show you the entire market with absolutely no bias
  • Provide property value studies and give you price advice
  • Research the seller or property to provide strategic insight
  • Disclose any reasons NOT to buy!
  • Pass on professional knowledge that will enhance your bargaining position
  • Help you write an offer with only your best interests in mind
  • Keep your bargaining and financial position confidential
  • Negotiate with utmost good faith, loyalty and fidelity

What is an Accredited Buyer Representative (ABR®)?

The ABR® designation represents 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 meets the specified educational and practical experience criteria.  Working with a Buyer’s Agent who is also an ABR® ensures the highest level of expertise and professionalism.  For more information, visit http://rebac.net/home-buying/FAQ