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.
A real estate buyer's representative represents the buyer who is purchasing property in a real estate transaction. The buyer's representative works for, and owes fiduciary responsibilities to, the real estate buyer and has buyer's best interests in mind throughout the process.
In some states, legislation has been enacted to protect the buyer to the point that, absent a written agreement, the buyer's representative represents the buyer throughout the real estate transaction.
The Real Estate BUYERS AGENT Council (REBAC) is a wholly-owned affiliate of the NATIONAL ASSOCIATION OF REALTORS® (NAR).
REBAC is the world's largest association of real estate professionals focusing specifically on representing the real estate buyer. There are
more than 42,000 active members of the organization world-wide.
Accredited Buyer Representative (ABR®) and Accredited Buyer Representative Manager (ABRMsm) designations are the "benchmarks of excellence in buyer representation" and the only buyer representative designations recognized by NAR.
Purchasing real estate is a complex and major transaction with many details to be handled. In the majority of cases the seller will be
represented by an agent.
A buyer's representative is responsible for protecting the buyer's best interests. Research by the NATIONAL ASSOCIATION OF REALTORS(r) has shown that when a buyer's representative is used, the prospective buyer found a home one week faster and examined three more properties than consumers who did not use a buyer's representative.
... Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
... Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and locale.
... Assist in viewing properties -- accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met.
... Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
... Advise the buyer on structuring an appropriate offer to purchase the selected property.
... Present the offer to the seller's agent and the seller on the buyer's behalf.
... Negotiate on behalf of the buyer to help obtain the identified property -- keeping the buyer's best interests in mind.
... Assist in securing appropriate financing for the selected property.
... Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
... Most importantly, fully-represent the buyer throughout the real estate transaction.