Home buyers have more representation in the home buying process, now that Buyer Agency is readily available through-out the greater New York area.
Until recently virtually all real estate agents were working for the homeowners who wanted to sell a house. They were Seller's Agents and their legal obligation was to get the best contract for the homeowner. That was often a source of confusion for home buyers who developed close working relationships with the real estate agents driving them around and showing them houses.
That confusion no longer exists. Today, Buyer Agency is standard practice in suburban New Jersey, New York and Connecticut. That means the real estate agent working with the home buyer is also working for the home buyer. The obligation of the Buyer's Agent is to work in the best interests of the home buyer, while still being fair to all parties involved.
The real estate agent who helps a homeowner sell their house is a Seller's Agent and is obliged to act in the best interests of the seller.
Now, the first step in the real estate process is for the real estate agent to explain the concept of agency to the consumer and ask them to declare whether they want a Buyer's Agent or a Seller's Agent. It is important that everyone involved-real estate agents, consumer and homeowner-all understand the agency relationship and whether a given agent is representing the buyer or the seller.
The availability of Buyer Agency means that real estate agents can provide their home buyers with service they could not offer as the Seller's Agent. A Buyer's Agent can tell a client if he thinks a house is overpriced, or she suspects a price reduction is imminent. She can point out deficiencies in a house a buyer might not have noticed that would effect it's resale value and can recommend one house over another. He can help the buyer negotiate a contract of sale.
In today's ever-changiing market, the Buyer Agent's knowledge about the most current sales data will assist the buyer in obtaining the house for the very best possible price.
Coldwell Banker spearheaded the change to Buyer Agency because we believe it is in the best interest of both buyer and seller.
Taking it one step forward, Debra has earned the "Accredited Buyer Representative" (ABR) designation in 2006!
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.
As a member of The Real Estate Buyer's Agent Council, Debra has tools available that the average Agent does not. One example, is:
The Homebuyers Toolkit. The Homebuyers Toolkit is packed with information to help your through the home buying experience.This kit contains easy-to-follow instructions and worksheets on everything from assessing credit, determining wants and needs in a home, selecting a vendor, all the way to packing for the move.Available in an 5 x 8" booklet, this is an excellent tool when dealing with a possible move. Call or email Debra today for a complimentary copy of this useful booklet.
