Accredited Buyer's Representative Class was a Great Investment of Time and Money

ABR LogoI was a little tentative about taking the Accredited Buyer's Representative (ABR) classes.  I have my CRS the granddaddy of designations and felt the ABR may be a CRS light. 

There were three things that changed my mind and helped me make the decision to go for my ABR and take the classes:

  • The predatory practices of several agents in the area.
  • Professionalism; is it professional to work with a client without clearly spelling out your relationship in writing?
  • The need to demonstrate to the public that I take my business serious.

I have resisted using buyer's agency contracts in my business for several reasons.  The number one reason was I like the ability to stop working with a client who I decide I do not want to work with.  Many of you out there understand why I feel that way.  Although most of my clients are wonderful, there are some for various reasons that it is not going to work out with.

The class I took was attended by about 60 or so local agents from the Honolulu area of which I knew several.  Included in the group is new agent Lielane Peralta, from my office.  Lielane is one of my a former clients. She has her first listing, co-listed with me.  I was happy to see her making the commitment to take on professional development as party of her business plan.

The instructor was Curtis V. Hall from Arizona.  Curtis is known in the industry as a revolutionary in the subject of buyer's agency.  Curtis did a great job of presenting the material and taking away any doubt I had for using buyer's agency agreements.  The three day class covered working with buyer's, issues of professionalism and was intertwined with the REALTOR® Code of Ethics.

Here are a few of positive reasons for going to a Buyer's Agency Agreement:

  • It formalizes your relationship with the buyer.
  • It is a much more professional way of doing business.
  • You treat your buyers the same way you already treat your sellers, with a signed contract.
  • It makes it much harder for other agents to poach your clients, with predatory practices.

Yesterday I got a call in the office from a potential client who was unhappy with her current agent and wanted to seek other representation.  I let her know that I could only work with her if she did not have a relationship with another agent.  Here response was she had nothing in writing.  I asked her to let the other agent know that she was not going to be working with them anyway.  I would have appreciated the same call.  But what she said sounded almost like our instructor sent her to me.  It did strengthen my resolve to change my business practices when working with buyers.

A big Mahalo (thank you in Hawaiian) to Curtis V. Hall a great instructor.  Hopefully a future Active Rainer.

 
This post has been included in Hawaii Information

56 Comments on Accredited Buyer's Representative Class was a Great Investment of Time and Money

I recieved my ABR designation earlier this year and learned much from that class.  My Elective class was "Short Sales and Foreclosures".  In my market which is South Florida we have a tremendous amount of Mortgages going into default thanks mainly to those 1% Negative Mortgages. 

I learned how to structure these deals and coordinate with the banks and I had my first closing of a "Short Sale" last month.  That alone has paid for the class not to mention all the great stuff I learned.  I am working on my CRS and that is going to take a little bit of time.  Good Luck with your new skills!

 

 

 

07/31/2007 07:42 PM by Kathy Hyatt, abr-chms-ahwd (ERA ACE Realty & Investments, Inc.)


Good to know.....I have considered taking the ABR course myself, but was told that it was no big deal.  It's good to hear a positive review. Now I will reconsider getting the designation.

07/31/2007 07:45 PM by Tiffany L. Young - South Florida Luxury Realtor (EWM Realtors)


I have been working with a buyer agency contract for over 10 years.  You can add a provision that you can give notice to the buyer if things are working out.  Have a lawyer help you draft some language.

07/31/2007 07:49 PM by Joan Whitebook, ABR, e-Pro, CEBA (Buyer's Option Realty Services)


I thought that the ABR was a very interesting and information series of classes and I have my CRS too.  I think in the current market every agent should take this one.

07/31/2007 08:00 PM by Miriam Bernstein, CRS, Westchester County, NY (RE/MAX Prime Properties)


Been wanting to take this.. you just convinced me..

07/31/2007 08:02 PM by Manhattan Beach CA/ e-PRO..... Kaye Thomas... (Real Estate West)


Kathy - I am sure the new skills from this class will more than pay for it.  You will get so much from the CRS classes.  I have the designation and still continue to take the classes.

Neal - I am sure you will like it.

Tiffany - I had heard the same thing.  I am glad I took it.  If you get one good idea that is put in place all classes become worth it.

07/31/2007 08:05 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Joan - Good tip, thank you.

Miriam - I agree completely.

Kaye - Let us know how your class goes, when you take it.

07/31/2007 08:06 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy, congratulations on completing the class. Now this is not time to rest, which one is NEXT!!!

07/31/2007 08:52 PM by George Souto (McCue Mortgage Co.)


Randy

it seems that you had fun and you learn a lot :) keep the good study my friend.

Ray Saenz

07/31/2007 09:24 PM by Aurora Colorado Real Estate Ray Saenz, Colorado Realtor (United Property Brokers, INC)


I'm glad there was positive feedback...even the epro one you are taking....good going,

07/31/2007 09:29 PM by Celeste "SALLY" Cheeseman (RA), HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Randy, sounds like a great class and you learned quite a bit.  I need to start looking into incorporating the buyer broker agreement into my business.  Might take this class.  thanks for sharing!

07/31/2007 09:44 PM by Pasadena CA Real Estate - Irina Netchaev (Keller Williams International Realty)


We liked ABR too. The best we've ever seen is at the Group Inc. in Ft. Collins, CO. Think of it as a think tank where many of the CRS instructors come to brainstorm and share ideas. Our favorite CRS class had to do with Buyers too.  Thanks for sharing this with all of us. We think we all should be CRS and ABR certified. 

Thanks 

07/31/2007 10:38 PM by Gary Bolen (CRS) Lake Tahoe Real Estate Information (Dickson Realty - South Lake Tahoe)


Hey Randy, great to hear that.  Those are some of the very reasons I am going for my ABR as well.

Didn't take much arm twisting to convince me to use buyer agency contracts, and this post confirms my thoughts on that!

Mahalo!

07/31/2007 10:45 PM by John Contabile Claremont California Real Estate (Coldwell Banker Town & Country - Claremont)


Randy - this is a good summary for someone to read who is thinking about the ABR but perhaps has not yet decided. I agree with everything you said - got my ABR during my first year in real estate and have never regretted it. Congratulations on your success.

Jeff

08/01/2007 01:25 AM by Jeff Dowler ~ Carlsbad Real Estate (RE/MAX Associates)


Lisa H - Thank you

George S - I have started the e-Pro. I will then rest.

Ray - Thank you

08/01/2007 03:33 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Sally - I just started the e-Pro.  I probably won't do much for a week or two on it.  I have gotten real busy lately.

Irina - I recommend it to everyone.  Even if you decide not to use buyer's agency agreements it is still a good course.

Gary - I liked all but one of the CRS classes I have taken.  I plan to continue to take them and attend Sell-a-bration each year.

08/01/2007 03:37 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


John - I resisted using them, but now realize the error of my ways.

Jeff - Thank you, I am really glad I finally took it.  Well done course, it will help me make more money and be a better professional.

08/01/2007 03:39 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Congratulations Randy.

I think so often agents forget that the designation classes also count as continuing educataion hours. You can update your hours and get the accreditation.  It's a win-win.

08/01/2007 06:07 AM by Chris Elizabeth Griffith ~ Bonita Springs Fl Real Estate (Keller Williams Elite Realty, Bonita Springs, FL)


Glad you took it and ejoyed it. My wife Monika has just recently passed the instructors portion and is now qualified to teach it.

In a down market I have seen agents wait to take continuing educational classes and forego extra training and educational opportunities.

08/01/2007 06:58 AM by Jay McGillicuddy~Real Estate Broker (Prudential Verani Realty)


Chris - I always collect a stack of CE credits.  I make a point of attending a few classes a year.

Jay - A down market is the time to increase marketing and training.  Congratulations to Monika, one of my goals is to teach.

08/01/2007 08:41 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy,

Nice post! If it's a buyers market maybe we all should be focusing on handling Buyers "Professionally".  Congrats on joining the Ranks! 

08/01/2007 08:57 AM by Suburban Chicago Illinois Real Estate (Suburban Village Realty)


I am glad that you liked the class.  I have my ABR and had Curtis Hall as an instructor for the course. I recommend anyone who is thinking of taking the class, find out where and when Curtis will be teaching it and attend his class.  He has a great way of thinking  of things and will change your perception of Real Estate Marketing.  Take His Class!

08/01/2007 09:10 AM by Brian Myers ~ Scottsdale & Paradise Valley, AZ Real Estate Agent (Signature Properties in Scottsdale, AZ)


Great post!  One of my goals this year is to take the ABR class.  

08/01/2007 09:50 AM by Omaha, NE Real Estate -- Steve Lauver (DEEB Realty)


OK, Randy how much is it going to cost to be able to use the designation each year?

08/01/2007 10:52 AM by Jeff Geoghan MBA - Lancaster PA Real Estate Expert (Coldwell Banker Select Professionals)


Randy - I have my ABR and found it to be a great class too... many people complain about the yearly dues.... but.... in all reality - I think it is worth it. Congrats

08/01/2007 11:02 AM by Central Oregon Real Estate | Thesa Chambers, Broker (RE/MAX Sunset Realty La Pine)


I have had my ABR for several years and continue to see its worth year in and year out as a means to distinguish myself from the many other agents out there who don't have the accreditation (I tell prospective buyers about its significance and let them make up their own minds.)

I have been on the fence about the signed contract for some time, like you, because I wanted the right to cut my buyers loose if they are not a fit, but on at least one occasion, it was the guarantee of a commission vs. none at all in the instance of a buyer who was willing to strike a deal with the listing agent by cutting me out of the deal. The contract insured that this did not happen.

08/01/2007 11:37 AM by Irene Potter (John L. Scott)


Randy - Your comments only reinforce my determination to attend the ABR course. After 4 years I can see the need ever so clearly. Thanks!

08/01/2007 12:33 PM by Gary Waters - Real Estate Agent Viera Suntree (Century 21 Baytree Realty www.moving2brevard.com)


I have been tempted, but now will resolve to take the class the next time it is offered in my area.  Thanks for reminding me!  By the way, e-PRO is worth the time to take.  I have been an e-PRO since the early days and it has helped my business and understanding of online marketing, as well as providing a great data base of net savy agents to refer to!

08/01/2007 12:40 PM by Vicki Lloyd ~ MBA, ACRE, e-PRO, Realtor Lake Forest, California (The Real Estate Professionals)


Randy,

Great job! Thanks for sharing, you are a great source of inspiration! :)

08/01/2007 02:39 PM by Suzanne Sands-Somerset, MA Real Estate (Century 21 Associates Realty)


After my post about the stinky buyer I encountered I made up my mind to go for this one.  I've already looked into it and am looking forward to the class.  Congratulations on your new designation!

08/01/2007 02:41 PM by Palmetto Bay | Redland Real Estate | Maggie Dokic (EWM Realtors)


Congrats Randy and welcome to REBAC. I too am an ABR and CRS.  I teach Buyer Broker Representation in California.  What is really interesting is that most agents need more convincing than buyers when it comes time to sign a contract.  ABR is also a great source for referrals from one ABR to another too.  Randy you are now my buyers agent in HI. 

08/01/2007 02:51 PM by Directors Realty


Paul & Michelle - Thank you

Brian - Curtis was really good.

Steve - It is always good to take professional development classes.  This one was pretty good.  It started a little slow because of the ethics material (only exciting for lawyers) very necessary though and then picked up as it went.

08/01/2007 05:17 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Jeff- I didn't look until you asked.  $110/ year

Thesa - I pay annual dues for CRS, both local and National, not to mention three Realtor organizations.  It is the cost of doing business.

Irene - I like the idea of having our relationship formalized to prevent that and to let the clients know exactly where we stand.

08/01/2007 05:58 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Gary - I took me a long time to come around also.

Vicki - Thank you for the feed back on e-Pro.  Once I get a little break in the action, I will focus on completely it.

Suzanne - Thank you for those kind words

08/01/2007 06:01 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Maggie - I won't officially have it for a couple of weeks.  Possibly by then I can finish the e-Pro.

C J - Thank you for the vote of confidence.  The number of ABRs on Oahu was less than 300 out of over 6200 Realtors and the number with both CRS and ABR must be tiny.  Like a few others said, it is a way of distinguishing yourself from the field.

08/01/2007 06:06 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Hi Randy -- Congratulations on your new designation.  I am amazed at how few there are here.  Aloha

08/01/2007 06:19 PM by Bruce Bourgault, Vice President, Mpro (Central Pacific Home Loans)


I was surprised when the instructor gave us the numbers.

08/01/2007 06:54 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Good job Randy. The designation is nice but the info you learned to apply to your business is much better. Using the BBA is going to make you a much stronger REALTOR(R). I'm happy for you Randy. We can never stop learning in this business.

08/01/2007 07:04 PM by Bryant Tutas-Tutas Towne Realty, Inc


B.B. - Sometimes it takes longer to teach an old dog a new trick.  I eventually get it though.

08/01/2007 07:12 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Good for you Randy!  In Knowledge there is power. The power of knowledge we acquire serves our clients and ourselves in the mutual benefits of becoming better at what we do. Good for you-good luck and sell well!

08/02/2007 05:55 AM by Allison Stewart REALTOR ®St. Cloud Florida (Florida Pines Realty, Inc)


Congrats on the new designation.....knowledge is power.  That was the same instructor that I had last year when I received my ABR. 

08/02/2007 12:51 PM by 1SG (Ret) David J. Kucic Hawaii Relocation/VA Expert (Tropic Lightning Real Estate)


Randy,

Congratulations on the new designation!!!  My decision to get the ABR designation was twofold: One was to learn more about consumer protection, and two was to give my buyers the knowledge that I was looking out for their best interests.  Keep on learning!!

08/02/2007 01:12 PM by Harold Watts' Palm Springs Real Estate Blog (Lyle Realtors)


David - I really enjoyed Curtis's class.  He really made me look at buyer's agency differently.

Harold - Both good reasons to take the classes.

08/02/2007 03:19 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy - Obtaining my ABR was one of the best business decisions I have made.  It helps me stand apart from other agents especially with first time buyers.  As for the benefit of additional education, we should strive to learn something new everyday, whether it is a course for a new designation or keeping up on local goings on in ones community.  Time and again I have found that by doing this, it reassures my clients that I have the currents skills and knowledge to help them. 

08/02/2007 04:21 PM by Jayne Weaver, ABR (Century 21 Sherlock Homes, Inc)


Jayne - I am sure it will have similar effects for me.  Thank you for sharing your positive experience.

08/02/2007 04:45 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy, you're a class act, of course we already knew that. The buyer's agreement is a great thing and I'm glad to see you're using it. Great post!

08/02/2007 11:54 PM by Ryan Hukill - Edmond Realtor® (Hukill Group - Paradigm Realty)


Ryan - I will be the first in my office, but I am sure others will follow.

08/03/2007 12:03 AM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy, Congratulations....... I have used the Buyers Contract/Agreement many times.  I was the first one in my old Brokerage to use it, and the Broker didn't know what it was.....we had to go buy forms from the Board......but I figured right off the bat that if I was going to give the client that much work, I wanted to make sure everyone was on the same page.

Yes, and the e-Pro is also well worth it. In my area there are only 2, myself and one other.  Maybe I should at least use it on my cards, and signature :)

08/03/2007 10:58 PM by Kathy McGraw ~ Calif Broker (CELLing Realty)


Kathy - If there are only two it definitely differentiates you from the pack.

08/04/2007 04:26 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Hi Randy-  I took the class back in April and enjoyed it also. 

I just got notification today that I officially have the ABR.  I got busy after they sent me the first letter and just recently got all the documentation in to them to get the designation.

08/21/2007 09:17 PM by Marchel Peterson Spring TX Real Estate E-Pro ABR (Results Realty)


Marchel - Congratulations, I got my papers in the mail, I have to file for it today.

08/23/2007 05:27 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Real Estate Agent: Randy L. Prothero  - Hawaii REALTOR® (Century 21 Liberty Homes)
Randy L. Prothero - Hawaii REALTOR®
Mililani, HI
More about me…
Century 21 Liberty Homes

Cell Phone: (808) 384-5645
Email Me

Links

Tags (Tag Cloud)

Archives

RSS 2.0 Feed for this blog
ATOM 1.0 Feed for this blog

Find HI real estate agents and Mililani real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved