Real estate investors are smart about protecting themselves from unnecessary risk and expense. They’re also smart about positioning themselves to earn as much as possible on their investment properties.
When you acquire a new Dayton investment property, are you working with an accredited buyer’s representative? If not, you should be.
What is an Accredited Buyer’s Representative (ABR)?
An Accredited Buyer’s Representative (ABR®) is a designation that real estate agents can earn. It identifies them as buyer’s agents who are focused on working directly with clients who are in the market to buy a property. They help the buyer navigate every part of the purchase process, whether they’re buying as owner/occupants or investors who are planning to rent out the home once the deal is closed.
The ABR® designation is awarded through the Real Estate Buyer’s Agent Council, or REBAC, which was founded in 1988 to promote superior buyer-representation skills and services. REBAC is affiliated with the National Association of REALTORS® (NAR).
What’s the Purpose of Working with an Accredited Buyer’s Representative?
By working with an Accredited Buyer’s Representative, you know that your agent has the benefit of valuable real estate education that has improved their knowledge, skills, and understanding of how a home buyer approaches the market.
When agents earn this designation, they’re provided with specialized information, specific programs, and regular updates that keep them knowledgeable on the issues and trends facing home buyers.
But, is there really a difference between an ABR Realtor® and any other Realtor?
An ABR® Realtor must:
- Keep your personal, financial, and consumer information confidential.
- Disclose what they know about the seller and the property.
- Negotiate on your behalf with only your interests in mind.
- Negotiate solutions to problems that are the buyer’s and not the seller’s.
- Focus on your specifications of what you are looking for in a home.
An ABR certified Realtor has extra training that qualifies them to specifically help buyers. These agents are not only committed to the industry, but to the individual buyers they are representing. It’s about more than simply adding up sales and gathering commissions.
How Real Estate Investors in Dayton Can Benefit
A first-time home buyer surely needs all the extra support and resources they can get. But you, as an experienced investor, can probably forget about the extras and just get through the deal, right? Yes, but why not gather all of the expertise you can? Why not have an agent who is completely dedicated to you, and not necessarily working as partners with the seller or the seller’s agent.
The ABR relationship provides you with a level of exclusivity that you cannot find by working with any agent. You get a dedicated partner who is committed not to pushing the sale through, but to ensuring all of your needs and expectations are met when you’re buying an investment property.
Here’s what we like about the ABR designation and the focus on buyers:
- Investors can access a skilled agent who is completely on their side. There’s no conflict and no competition. With buyer representation, you have a local real estate agent and buying expert who is obligated to promote and protect your interests, including disclosing information that might help you and keeping certain information confidential. Without these protections in place, you could find that your agent is working on behalf of the seller, too.
- Your dedicated ABR® will have special training in representing the buyer. This allows you a competitive advantage over other investors, who are working with a generalized agent and unable to leverage the special skills and training that’s available to these buyer representatives.
- There’s an added simplicity to the real estate transaction you are embarking upon. As an investor, you have been through many of these. You’ve seen them go smoothly and you’ve watched them go down in flames. With your buyer’s agent present, you can expect that even complex real estate contracts such as disclosure forms and mortgage applications will be less challenging and easily managed.
- You’ll have the benefit of innovation and the latest technology. This agent is an expert who is up to date on all the laws, best practices, and strategies employed by the best real estate agents in the country. An ABR® certified Realtor has completed special training and a certification test to represent the buyer. Additionally, these agents make it a point to stay up-to-date on the latest trends in buyer representation. Professional development is encouraged and practiced, which gives you extra resources as a buyer and investor.
- You can expect better negotiations. Get the results you want. Deciding on the offer you’re going to make to a seller involves looking at a long list of factors, such as what similar homes in the neighborhood are selling for, and what the prices were on recently sold homes. Your Realtor will know how long a property has been on the market and if there have been a lot of other offers. This means that you’ll have assistance coming up with the best offer, and you’ll also get astute advice on various contingencies. They will also present your offer to the seller in a positive light and help you navigate counter offers.
When you work with an ABR, ® you’ll know that your Realtor has already had a certain amount of success in real estate. They’ve likely been an agent for a while, and this is the logical next step in their career. As a result, it’s clear you’re getting an experienced Realtor who is prepared for even the most competitive marketplace.
Enjoy a higher level of service. Usually, the buyer’s agent’s commission is paid out of the seller’s proceeds. Sometimes, sellers try to negotiate the buyer’s contribution to a commission. Your ABR® certified Realtor won’t let that happen. This is one of the areas in which they are specifically trained, and it should be something you discuss as you approach the closing date.
If you’re smart about investing in Dayton real estate, you’ll want to work with an ABR® certified Realtor. We can make sure you have one. Contact our team at ManCo Property Services, and we’ll help in whatever way we can.