Accredited Buyer Representation Allow me to work for you, not just with you
As an Accredited Buyer Representative (ABR), I have received advanced training in protecting Buyer’s interests in real estate transactions. The Real Estate Buyers Agency Council (REBAC) also sends me a monthly newsletter so I can stay current with laws and issues that may affect my clients. I pay it forward by emailing a monthly newsletter to my clients and past clients to help educate them on real estate matters that will affect them now or in the future. When I provide helpful information to past clients or the general public, this level of service is defined as “customer-level service” where there is no commitment from either party. I offer many customer-level services such as a free personalized list of available homes and free notification of new listings and price reductions. When prospective Buyer’s subscribe to this “early notification service” they have an edge because they may see listings days before they propagate to public MLS sites. Also I provide Buyer educational emails to customers regarding many aspects of buying homes and investment property. When I become your Buyer’s Agent, you are entitled to a higher level of commitment where I can also provide advice and guidance (client-level service). Once you become my client I will advise and protect you as your agent. There is no charge for me to represent you, but as with all real estate agreements, it must be in writing. A client relationship is required before I can submit offers; negotiate in your behalf, etc. You don’t pay my fee, the Seller’s Listing Brokerage does. Consider the table below to be my timely disclosure and explanation of buyer agency. The full disclosures are contained in the Utah form titled “Exclusive Buyer-Broker Agreement & Agency Disclosure”. The tables below are excerpts from the National Association of Realtors® Accredited Buyer Representation Participant’s Manual. If you have questions about agency, please call me at 801-706-1707.
Responsibilities to Both Clients & Customers | Honesty | No statement or action can result in fraud or misrepresentation. All laws and regulations pertaining to the transaction must be obeyed including the disclosure of material facts. | Disclosure of Agency and Material Facts | Disclosure of agency relationships, including an explanation of the difference between a customer and principal/client relationship, must be made in a timely fashion so that customers can protect their own interests (e.g. reveal any confidential information). Material facts about properties must be disclosed. | Accounting | The agent is required to promptly report to the principal all money and property received and paid out, and upon request to tender an account of these actions. This duty also requires the agent to safeguard money or property held on behalf of the principal. | Reasonable Skill & Care | The agent must comply with state real estate licensing laws to provide services that are neither misrepresentative nor fraudulent. | Fiduciary/Statutory Duties to a Principal/Client | Undivided Loyalty | The agent is prohibited from advancing any interests adverse to the principal’s interests or conducting the principal’s business in such a way as to benefit a customer, a subagent, the agent or any other party to the detriment of the principal’s interest. | Obedience | The agent is required to act, following and abiding all lawful instructions, subject to the principal’s continuous control, but not exceeding the scope of authority conferred by the principal. That is, don’t make decisions for the principal. | Reasonable Care & Diligence | The agent is required to protect the principal from foreseeable risks of harm, recommending that the principal obtain expert advise or assistance when the principal’s needs are outside the scope of the agents expertise. | Confidentiality | The agent is prohibited from communicating personal information about the principle that was given in or acquired by the agent within the scope of employment as an agent to the principal. Personal information must be kept confidential unless the client releases the agent, or subagent, from his duty. However, the material facts and defects of a property are NOT confidential. | Full Disclosure | The agent is required to disclose affirmatively and honestly all information concerning the transaction (and property) which might affect the decisions a principal makes, informing the principle what the agent knows. | Accounting | The agent is required to promptly report to the principal all money and property received or paid out, and upon request, to tender an account of these actions. This duty also requires the agent to safeguard money or property held on behalf of the principal. |
Please review the comparison in the tables above to help you decide if it’s time for you to formalize our relationship by signing an “Exclusive Buyer-Broker Agreement & Agency Disclosure”. I can represent you on both residential and income property transactions. As your Buyer Representative I work solely for you and have no obligation to the Seller except to be honest and professional. In the not so distant past, Buyer’s of Utah real estate were at a real disadvantage because all agents worked for the Sellers. I can also represent you on the purchase of For-Sale-By-Owner properties where the seller is unrepresented. You will need to tell me about you and your family and what features are important to you. I will then help you categorize and prioritize your list of requirements and diligently use the MLS and other sources to locate homes that closely match your criteria. Each time I show you homes and you give me feedback I will gain more insight to find better matches the next time. Once you become my client I will need additional personal information so I can advise you on financing options and other important real estate matters. I have access to information that the Seller may not want you to know. I have experience with residential, commercial, new construction, vacant land, HUD homes, short sales and bank foreclosures. Additionally I can search my proprietary database of potential Seller’s who are “just thinking” about selling. Once you have found a property you like I will provide you with additional information and do a comparative market analysis (CMA) to help you decide what price to offer.
Once your offer is accepted is when a lot of details must be taken care of in a short period of time. Many deadlines specified in the contract that must be met or you could loose your earnest money or the purchase contract could be voided. It is common to experience some turbulence along the way and my role is to work hard to protect your interests and skillfully guide you to a succesful closing and beyond.
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