You need the right person to find a home that suits your needs.
So you've decided to buy one of the homes in Phoenix.
Purchasing real estate is a complex and major transaction with many details to be handled. Because of the laws in Arizona and the business arrangement you have with a licensed real estate agent, that listing agent may actually be negotiating for the seller, not you the buyer. At best the listing agent asks the buyer and seller to agree to a limited dual agency which means both parties waive their right to have a licensed agent to recommend what is offered or accepted. There are no negotiations. The dual agent cannot make recommendations to one party that would harm the other party's position. You are on your own during contract negotiations and then... good luck... with any repairs you want to be done after the inspection.
The best way to be certain an agent is working in your best interests is by signing a buyer representation agreement with a licensed Phoenix real estate agent who is an ABR® Accredited Buyer Representative trained to be your advocate to represent the best interests in your real estate purchase. And the seller, not the buyer, is going to pay the Buyer Agent to get the transaction closed.
So the question is not why should you have a professionally trained Buyer Representative to work on your behalf. The real question is WHY WOULDN'T YOU WANT BUYER REPRESENTATION?
Check out my testimonials and then CONTACT SAM for help with your real estate purchase now.
What is a Buyer Representative?
A real estate buyer's representative represents the buyer who is purchasing property in a real estate transaction. Research by the National Association of REALTORS® has shown that when a buyer's representative is used, the prospective buyer found a home one week faster and examined more properties than consumers who did not use a buyer's representative.
The buyer's representative works for, and owes fiduciary responsibilities to the real estate buyer and has the buyer's best interests in mind throughout the real estate process. I will:
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 ensure 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.
Why you should use an Accredited Buyer's Representative (ABR®)
Why should you look for the ABR® designation before looking for a home? These three letters after a REALTOR® name tell you that you will be working with buyer representative who is committed to your best interests. The ABR® Designation is awarded by REBAC® to those REALTORS® who have met the specific educational and experiential criteria needed to provide the high-level quality service required by REBAC® (Real Estate BUYER'S AGENT Council).
Sam Elam has practiced exclusive Buyer Representation as an ABR® since 1996 and earned the praise and appreciation from hundreds of happy Buyers he has represented. He is a skilled Phoenix real estate agent and Buyer Advocate representing buyers of homes in Chandler, Mesa, Gilbert, Phoenix, Scottsdale and Tempe, Arizona.
About the Real Estate BUYER'S AGENT Council (REBAC®)
The Real Estate BUYER'S AGENT Council, REBAC®, was founded in 1988 to promote superior buyer representation skills and services. An affiliate of the National Association of REALTORS® since 1996, REBAC's membership now numbers well over 40,000 and is the worlds largest organization of real estate professionals concentrating on buyer representation. Members who meet all course and professional experiential requirements are awarded the ABR® (Accredited Buyers Representative) - the only designation of its type recognized by NAR.
The ABR® designation is geared towards professional REALTORS® who wish to enhance their buyer representation skills and provides proof to prospective buyer-clients of their proficiency at servicing the special needs of buyers.
The Buyer Representation Agreement and Compensation
It is important for the buyer to discuss the buyer's representative's compensation in the initial interview. In all cases, it is imperative that the buyer and the buyer's representative agree to the terms of compensation prior to viewing properties and sign a written agreement based on those terms. The agreement will spell out the responsibilities of both parties throughout the real estate process.
Sam Elam DOES NOT CHARGE a buyer to represent them in a real estate transaction. Sam elects to be compensated for representing you in a real estate purchase 1) through the MLS commission sharing agreements between ARMLS broker members, 2) Builder compensation offered, 3) For Sale By Owner prior written commission agreement with me or 4) Trustee Sale Purchases by Auction with prior written commission agreement. We will have a buyer representation agreement we both sign that defines our separate and mutual duties and obligations under the buyer representation agreement. You will know what to expect of me and what I expect of you.
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.
Arizona law, at a minimum, requires a real estate agent present to the buyer for you to sign an Agency Relationship disclosure that defines who is representing you - if anyone is - and what duties and responsibilities the agent you are conversing with owes you.
Arizona law requires this agency disclosure be given to you as soon as you and the real estate agent have entered into a "meaningful" conversation about your plans to purchase a home and your desire for the agent to offer assistance in buying a home.