How do I choose a buyer’s agent?

Choose a buyer’s agent with the ABR or EBA (Exclusive Buyer Agent) designation after his or her name; ‘‘EBA’’ means the agent doesn’t ever represent sellers. The ABR designation is awarded to real estate practitioners by the Real Estate Buyer’s Agent Council (REBAC) of the National Association of REALTORS who meet the specified educational and practical experience criteria. The National Association of Exclusive Buyer’s Agents (www.exclusivebuyersagents.com) has a ‘‘find an agent’’ section. The group says its agents provide full fiduciary services to their clients and advocate the right of consumers to be fully represented when purchasing real estate.
The National Association of Exclusive Buyer’s Agents suggests that all future home owners ask their agents the following questions before making their selection:
❑ How long have you been representing buyers as a buyer’s agent?
❑ Do you, or the company you are with, take listings? Do you practice dual agency?
❑ What percentage of your personal business and what percentage of
your company’s business is representing buyers? Is the balance of that representing sellers?
❑ Will you try to sell me one of your listed properties before you show me listings from other real estate companies?
❑ Do you have information about FSBO properties?
❑ How many buyers have you successfully represented in the last six months? Can I have the names and phone numbers of three to six of your most recent buyer clients?
❑ What training have you taken that specifically relates to being a buyer’s
agent and representing buyers? Do you have any specific buyer’s agent professional designations?
❑ Do you know the six fiduciary, client-level duties you would owe to me if I chose to hire you as my buyer’s agent? (These duties are confidentiality, accountability, reasonable skill and care, undivided loyalty, obedience to lawful instructions, and full disclosure.)
❑ What is your commission? Or do you have hourly rates or a set fee?
❑ Will there be a written contract?
❑ Do you have a list of home inspectors, insurance agents, and reputable lenders for me to consider?
❑ What clauses will you incorporate in our offer to protect me as a buyer?
❑ How will you help me save money?
❑ Specifically, how will you protect my interests, and why should I hire you rather than another agent?