A True Real Estate Buyer’s Agent
| July 9th, 2009that will result in a better outcome on the deal of the property.
Exclusive real estate buyer’s agents are nearly always compensated from the commission a seller pays at closing, but the contract they sign with buyers usually stipulate that buyers will pay the commission if the agency cannot collect from a seller.
That’s not too different from the contracts used by buyer’s agents at a traditional real estate firm who work for both sellers and buyers. Having the buyer’s best interest at heart and knowing that they are receiving compensation from the buyer, a real estate buyer’s agent may solicit homes that are not on the market or show a buyer property being offered for sale by the owner.
Being an exclusive real estate buyer’s agent means that when your buyers become sellers, they will need to work with another agent. You will usually have fewer upfront costs than a listing agent, but you will need to be available to go show property on an ongoing basis. Most exclusive buyer agency firms are located in areas with a very active real estate market. Firms in smaller markets feel they need the income from both the buyer and the seller clients to make a living.
REBAC, the Real Estate Buyer’s Agent Council, is an organization that’s affiliated with the National Association of Realtors and offers its members a national convention and education opportunities through the Accredited Buyer Representative designation (ABR). Many agents that hold the ABR designation work for firms that only contract with buyers. Becoming associated with these organizations will benefit your business greatly. As a real estate buyer’s agent, you will be given the training and support needed to enhance and further your clientele. Take advantage of these associations and the opportunities they present throughout the year. You will come to realize how beneficial they are. There are also websites for buyers through the National Association of Exclusive Buyer Agents (NAEBA) for prospect and current agents. They also host an annual convention and offer agents much expertise and wisdom is this field.
Becoming an exclusive real estate buyer’s agent can have its ups and downs, just like any other business. Economy, market and other factors will play a part in your income and therefore cause you to stretch your ideas and be more creative when working with clients. Continue to strive and maintain an air of professionalism and upbeat optimism when dealing with your clientele at all times. They will come to view you as someone they want to deal with and share your name with family and friends. Your outlook on the real estate market can either bring them discomfort or peace. There are many books on creating an optimistic view on life and society that are at your fingertips if this is something you struggle with. Just as location, location, location is a key factor in real estate, so is; attitude, attitude, and attitude.
