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Consumers what does the real estate ABR mean to you?

By Jennifer Fivelsdal

Real Estate Broker/Owner with JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 10491201242

April 27, 2007 05:56 AM

Recently I was asked by a prospect what the ABR on my card meant. So here was an opening for some consumer education.

ABR - Accredited Buyer Representative

This is a designation awarded to Realtors who have taken classes on how to best represent a buyer. The classes typically covers the Agency Disclosure form which in New York State is required to be signed by both buyer and agent once it has been discussed. The class also covers other disclosures forms such as the property and lead disclosure. Agents are also taught how to improve their negotiation skills to better save their clients thousands of dollars. And with the information age, instruction is also given on how to work best with Internet buyers.

When you meet with the agent, besides signing the agency disclosure you will also discuss your needs and expectation, a formal contract will be completed detailing the scope of work, the length of your relationship, your availability for looking at properties, who will pay commission, and how the offer will be presented.

The agent will also have certain expectation of you. If you see a For Sale By Owner you should write the information down and contact your agent who will gladly investigate further. It is also expected that if you find properties online you will pass the information on to the agent. Remember your agent has skillfully negotiated real estate deals before and as your representative is able to save you money by handing the negotiation. You will also be expected to disclose to all other agents that you are represented.

I find working with a buyer in a relationships like this beneficial to us both and leads to a more satisfying experience.

So as you start your real estate shopping this spring consider an ABR, someone who has your best interest at heart.

If you are looking to buy in the Hudson Valley (Columbia, Dutchess & Ulster) call Jennifer Fivelsdal 845-758-6842

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Patricia Aulson

BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH

Realtor - Portsmouth NH Homes-Hampton NH Homes

Most people don't give a darn what all the letters/designations mean, really. I've been a REALTOR for almost 2 decades and can't remember a time I was asked what they meant.

PatriciaAulson/REALTOR/ME,NH, MA

Apr 27, 2007 06:16 AM

Jennifer Fivelsdal

JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY

Mid Hudson Valley real estate connection

Patricia - thank you for your comment. I would say that was a true statement some years ago, but just like the technological changes the real estate industry is undergoing the expectation of clients have also changed.

I can't speak for your marketplace but in mine I have been asked about ABR especially fom prospect coming from the New York City area, I guess they have been paying attention to the articles in the newspaper and reading books giving real estate advice.

Apr 27, 2007 06:25 AM

Ron Mienk

Coldwell Banker - Schmidt - Saint Ignace, MI

Jennifer

Very good and informative info. You really covered all bases with that. Rarely does anyone ask me about designations or what certin things mean. The info you you provided I wish I could print it off and hand it to every prospective Buyer or seller that I hand a Agency Disclosure to. Great post keep up the good work.

Apr 27, 2007 07:02 AM

Ron - If this is explained upfront it makes for a better relationship with the client. And they will feed you FSBO info and any other listings they come across.

Apr 27, 2007 11:45 AM

George Souto

George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT

Your Connecticut Mortgage Expert

Jennifer since I am not a Realtor, I often wonder what some of the abbreviations stand for, so thanks for explaining this one.

Apr 27, 2007 03:29 PM

George _ I am glad the explanation helped. I know I personally ask people I meet in other industries what their designation meant and what had to be done to get it. That simple question can go very far.

Apr 27, 2007 03:45 PM

Rich Quigley

Chicago, IL

Good post, Jennifer. It's true that consumers (and sometimes other Realtors) don't know what any of the designations mean. I think if we use them in our marketing and explain them as well as you did in your post, it gives those of us with designations some more credibility with consumers.

Apr 30, 2007 01:12 AM

Rich..

I truly believe if the consumer understood what the designation meant it would certainly give us more credibility. When I answered the question the person asking the question was impress with the fact that I took my profession seriously and schedule the time for classes.

Apr 30, 2007 02:47 PM

Missy Caulk

Missy Caulk TEAM - Ann Arbor, MI

Savvy Realtor - Ann Arbor Real Estate

Jennifer, do you think consumers really care what all our designations mean ? I always write them out on my email signatures.

e-Pro Certified Internet Specialist

GRI Graduate Real Estate Institute

etc...

Jun 10, 2007 01:30 PM

DDR Realty

DDR Realty - Newburgh, NY

Orange County NY

Hi Jennifer and Good Post. Being relatively new to AR, it's taking me time to reveiw past comments made by the thousands of members. I doubt if I get to them all. But I'm glad I got to this one. I agree that our designations are of interest to the consumer more so today than in the past. I have had many ask me, what does the ABR and GRI, after your name mean.

Jul 28, 2007 01:50 AM

Missy- I think some do especially if they really put alot of effort into choosing an agent. I am alway curious about designation, trust me even in the doctor's office I read all the credentials posted.

Derrick - I agree that now more than ever people will ask. Sometimes just wearing the pin can get a conversation going.

Jul 28, 2007 09:16 AM

Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for the post. There are statistics that show that agents who have designations earn more than agents without designations. But there are many agents who have no designations who are doing great. I wonder how they get so much business .

Aug 09, 2007 11:40 PM

Karen Kruschka

RE/MAX Executives - Woodbridge, VA

- "My Experience Isn't Expensive - It's PRICELESS"

Actually, I think it is more important to REALTORS. When they look for agents to refer a client they have a good idea as to the educational level of the agent

Aug 31, 2007 01:31 AM

Nancy Siau

The Lachicotte Company An Exclusive Affiliate of Christie's - Pawleys Island, SC

Selling Coastal SC

I agree with Karen. Just this week I was doing some research on getting my ABR certification. This is a timely post for me. Thanks for giving me food for thought.

Aug 31, 2007 05:27 AM

Consumers what does the real estate ABR mean to you?

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Jennifer Fivelsdal

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