How to hire the best buyers agent in Tennessee
The default position for a real estate licensee in Tennessee is called “facilitator” or non-agency status.
Unless you have a signed agency agreement between you and your licensee that licensee cannot, by Tennessee law represent you as “your agent”.
You can read all about the nuts & bolts at:
http://www.knoxvillemls.com/agency.htm
Every Tennessee licensee has 7 duties to consumers, no matter what their agency status or non status.
- To use professional skill and care.
- To disclose any adverse facts.
- To maintain confidentially.
- To provide services with honesty and good faith
- To provide timely and accurate information.
- To account for funds and property
- To not engage in self dealing or conflicts of interest.
When you hire a licensee as your agent they then owe you 2 additional duties:
- To obey all of your lawful instructions.
- To be loyal to your interests by placing those interests above all others.
I find that most buyers want this agency level of representation in what is usually the biggest financial transaction in their lives.
Another thing to look for in a buyer’s agent is the ABR or, “Accredited Buyer Representation” designation awarded by the National Association of REALTORS.
Agents who have earned the ABR designation have received additional specialized education to enable them to better represent today’s homebuyers.
In order to earn the ABR a Realtor must:
- Successfully complete the ABR course.
- Successfully complete one other elective course.
- Complete & close 5 real estate transactions acting as a buyers agent.
- Be a Realtor and a member of the Real Estate Buyers Agent Council (REBAC)
Look for a Realtor with the ABR designation to represent you in your next real estate purchase.
