Utah County Home Buyer Representation - Buyer Agent vs. Seller Agent
During the past 25 or so years, Utah County home buyers have been able to choose between Buyer agents or the Sellers agent representing the Seller, to buy a home from. Many buyers didn't even know that they could use a buyer agent or even if they were available. Most home buyers assumed the agent showing the home represented them. Seller agents were obligated to represent the seller's interest unless they had a separate written agreement with the buyer to represent them.
The FTC did a study of the Real Estate brokerage industry in 1983 and determined that most home buyers actually thought that the Real Estate agent showing them homes was working in their best interest, the vast majority were wrong. The FTC started putting pressure on the states to have real estate agents disclose in writing to the consumers whose side they were representing. In the early 1990's most stated adopted agency disclosure laws requiring real estate agents to finally tell consumers the truth about who they were working for. The NAR endorsed buyer agency as an alternative in 1993.
Today agency is broken down into 3 categories. Seller, Buyer and Limited (Dual). The Real Estate agent has to disclose in writing, which he is representing in the transaction and the other party has to acknowledge their understanding of the representation during the process of buying and selling of a home.
There are three big advantages of having an Utah County Exclusive Buyers Broker agreement when you are purchasing a new home.
Unbiased view of the Utah County Real Estate Market
Seller agents want to sell you their own property that they have listed. Buyer agents want to show you as many properties as possible to help you make an educated decision.
Negotiate in Utah County Buyer best interest
Seller agents typically try to get the highest price they can for their seller client. The higher the selling price the larger their commission and happier their client is.
Savings on Loans and costs
Once a buyer agent has negotiated a purchase contract, then he works hard to save you money on loans, inspections, repairs and closing costs. The buyer benefits by having his agent focus completely on him and trying to make his experience a good one.
Why Use an Utah County ABR®: REALTOR® Experienced in Buyer Representation
Buying a home is no small matter. Besides being the largest financial transaction you may ever undertake, it's probably also the most complex. There are many good reasons to work with a qualified real estate professional-especially a trained professional who has earned the Accredited Buyer's Representative (ABR®) designation, representing best-in-class buyer services.
When you look for an ABR® before you look for a home, you'll be served, not sold. Your interests become their interests. And you'll be working with someone who has gone the extra mile by completing specialized training in delivering the best in buyer-representation services. Plus, a REALTOR® who has an ABR® Designation also has an established track record, with proven experience in representing the concerns of homebuyers.
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 an affiliate of the National Association of REALTORS® (NAR).
ABR® vs. Buyer's Rep: A REALTOR® Designation
A buyer's representative (or simply buyer's rep) is a licensed real estate professional that represents prospective homebuyers in their property transaction. If you've formalized an agency relationship, typically by signing a buyer's rep agreement with a buyer's rep, you can expect him or her to:
- Understand your specific needs and wants, and locate appropriate properties.
- Assist you in determining how much you can afford (pre-qualify your mortgage).
- Preview and/or accompany you in viewing properties.
- Research properties, to identify any problems or issues you should consider.
- Advise you in formulating your offer.
- Help you develop your negotiation strategy.
- Provide a list of potential qualified vendors (such as inspectors, attorneys, lenders, etc.) for other related services that may be needed.
- Keep track of all the details throughout the entire transaction-to closing and beyond.
In other words, a buyer's rep should make your home buying experience go as smoothly and successfully as possible.
But not all buyers' reps are equal. A Utah County buyer's rep who has earned the Accredited Buyer's Representative (ABR®) REALTOR® designation has made an extra effort to raise the bar, with additional training and experience in serving you, the homebuyer. If you work with an ABR®, you can feel more confident that you'll receive the highest level of buyer-representation services.
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High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing. 
