What is REBAC and ABR?
The Real Estate Buyers Agent Council, REBAC, was founded in 1988 to promote superior buyer representation skills and services. An affiliate of THE NATIONAL ASSOCIATION OF REALTORS, (NAR), since 1996, REBAC’s membership now numbers well over 40,000 and is the world’s largest organization of real estate professionals concentrating on buyer representation. Members who meet all course and professional experiential requirements are awarded the ABR (Accredited Buyers Representative). This is the only designation of its type recognized by NAR.
The ABR designation is geared towards agents who wish to enhance their buyer representation skills, and provides proof to prospective buyer-clients of their proficiency at servicing their special needs. REBAC supports its members through a variety of benefits and publications designed to keep members informed of developments in buyer representation and to assist members improve their business. REBAC also promotes the advantages of professional buyer representation to consumers.
Why use an Accredited Buyer Representative?
Depending on the laws in your state and the business arrangement you have with a licensed real estate agent, that agent may actually be negotiating for the seller, not you the buyer. The best way to be certain that an agent is working in your best interests is by signing a buyer representation agreement with a Realtor.
A buyer’s representative represents the consumer who is purchasing property, not the seller. Although state laws vary, a buyer’s representative usually works for and owes fiduciary responsibilities to the real estate buyer. It is the buyer representative that has buyer’s best interests in mind throughout the entire real estate transaction.
Why should you look for the ABR designation before looking for a home?
These three letters after a REALTOR’s name tell you that you will be working with a buyer representative who is committed to your best interests. The ABR designation is awarded by REBAC to those REALTORS who have met the specific educational and experiential criteria needed to provide the high level quality service required by REBAC.