Home Buying Guide|
Use a Buyer's Agent...
In the early 90's there was a major change in the Michigan law regarding real estate agency disclosure. Prior to this change, Michigan law required all licensed real estate agents and brokers to work with customers as an agent of the seller. Even when the agent was helping a buyer with their home purchase, the agent was really working in the seller's best interest. Unfortunately, this fact was rarely disclosed to the buyer.
Michigan real estate agency law now allows an agent to represent their customer/client as either a Buyers Agent, Sellers Agent, Dual Agent or Transactional Coordinator. Michigan law also requires that the appropriate agency disclosure is made at the first point of contact with the customer.
When you work with an agent to find a home, you would naturally assume that the agent you are working with is representing your interest as a buyer's agent. Technically, this is the case if proper agency disclosure has been made to the customer/client. After all, according to Michigan agency law, any licensed agent can work on your behalf as a buyer's agent. You would also assume that the agent you are working with has had the necessary training and experience in buyer representation and buyer agency law to represent your best interest in the real estate transaction. Unfortunately this isn't always the case. Michigan law does not mandate or require that real estate agents, or brokers for that matter have any type of formal training in buyer agency law or buyer agency representation.
Your home purchase will be most likely be one of the most important and largest investments you will ever make. You shouldn't trust this investment with just anyone. Make sure you are being represented by an agent who has had the necessary training and experience to truly represent your interest in the transaction. The Real Estate Buyer's Agency Council (REBAC) in conjunction with the National Association of Realtors offers an in-depth course in Buyer Representation and Buyer Agency law. Real estate agents who complete the required class work, pass a written examination and provide detailed documentation of their experience in buyer representation are then awarded the coveted designation of Accredited Buyer Representative (ABR).
|Protect your future investment...|
Find an ABR...Work with an ABR...Buy with an ABR
Steve Hatfield is ABR!
Buyer's Guide Next Topic: Agency Disclosure
Click here for a full list of Home Buying Guide topics
Buying a Home? Fill out Steve's online Buyer Inquiry Form
Selling a Home? Fill out Steve's online Seller Inquiry Form
Back to Top
Return to Home Page
REALTOR® ABR, CRS, e-PRO Certified
CENTURY 21 Curran & Christie
25636 Ford Road
Dearborn Heights, MI 48127
Office: (313) 274-7200
Contact Steve Now
Text Message: www.TextSteve.com
Print Steve's Business Card
Licensed Realtor® Since 1987 (#6501221773)
Steve Hatfield, Realtor® provides professional real estate / home buying services to buyers and sellers in Dearborn Michigan, Dearborn Heights Michigan, the Wayne County MI (Southeast Michigan) communities of Livonia, Canton, Redford, Westland, Garden City, Plymouth, Northville and the Oakland County cities of Farmington / Farmington Hills and Novi Michigan.
In accordance with the law, the properties, real estate services and homes for sale featured on this web site are offered without respect to race, religion, color, creed, national origin, sex, physical limitations / disabilities or familiar status.
REALTOR® is a registered collective membership trademark that identifies a real estate agent / professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict code of ethics.
Century 21 Real Estate Corporation © and sm trademark and servicemark of Century 21 Real Estate Corporation. Equal Housing Opportunity. Each office Independently Owned and Operated.
Copyright © 1996 - Steve Hatfield
Graphics and content may not be reproduced or copied in any way with out written permission
from Steve Hatfield.