Dick and Nancy Gerber, ABR, GRI

ABR stands for Accredited Buyer Representative and is a professional designation awarded by the Real Estate Buyer's Agent Council (REBAC), a national real estate organization addressing all aspects of consumer representation in real estate. Those receiving the ABR designation must attend a two day seminar and also complete specified practical requirements and submit evidence of completed transactions in which they have functioned as a buyer representative before being accepted in the designation program. Less than one half of one percent of all Realtors hold this designation.

Don't Be Misled... You have the Right to Choose Your Representation When Purchasing Real Estate, the choice is yours -- customer or client. All Brokerage companies in the State of Arizona are subject to the same Common Laws of Agency.

Before entering into a real estate transaction, the real estate brokerage company has an obligation to discuss the legal relationship that will exist during the transaction. This relationship will determine whether you will receive client or customer level services.

Client Level Services:

When a real estate brokerage company represents the seller and not the buyer in a transaction the the seller is the client and the buyer is the customer of the seller's brokerage company. All fiduciary responsibilities & duties are due the seller under this set of circumstances... and only the seller.

Customer Level Services:

When the real estate brokerage company represents the buyer and not the seller in a transaction the buyer is the client and the seller is the customer of the buyer's brokerage company. The buyer and the brokerage company will enter into a Brokerage Employment Agreement or "Buyer Representation Contract." All fiduciary responsibilities/duties are due the buyer under this set of circumstances... and only the buyer.

What are Fiduciary Responsibilities or Duties to the client performed by the real estate brokerage company and why are they necessary?

Accountability
Obedience
Confidentiality
Full disclosure
Undivided loyalty
 

These guide lines are the "core" of the ethics and standard practice that ALL real estate professionals in the State of Arizona should adhere to in ALL real estate transactions.

Who's going to pay for the "Buyer's Agent's Fee?

Under most circumstances, the payment of the buyer's agent's fee has already been discussed by the listing agent at the time the listing was signed. The listing agent has pointed out the advantages of compensating the buyer's agent for his service in procuring a ready, willing and able buyer for the property. The fee is then printed in the multiple listing service.

The Real Estate BUYER’S AGENT Council is North America’s largest association of real estate professionals focusing specifically on representing the real estate consumer. There are more than 15,000 active members of the organization throughout the United States and Canada.

THE REALTOR® TRADEMARK REALTORS® is a registered trademark of the NATIONAL ASSOCIATION OF REALTORS®, whose members subscribe to a strict Code of Ethics. Although all REALTORS® are licensed real estate practitioners, not all licensees are REALTORS®. In fact, REALTORS® frequently take many more than the required hours of continuing education, and many hold designations signifying advanced education or specialization in particular areas of real estate practice.

THE REALTOR® TRADEMARK REALTORS® is a registered trademark of the NATIONAL ASSOCIATION OF REALTORS®, whose members subscribe to a strict Code of Ethics. Although all REALTORS® are licensed real estate practitioners, not all licensees are REALTORS®. In fact, REALTORS® frequently take many more than the required hours of continuing education, and many hold designations signifying advanced education or specialization in particular areas of real estate practice.