William Brokhof is an Accredited Buyer Representative (ABR) - also referred to as a Buyer's Agent, and a member of the Greater Boston Real Estate Board, the Massachusetts Association of realtors, the National Association of Realtors and REBAC.

The ABR Designation
The ABR designation is the benchmark of excellence in buyer representation. This coveted designation is awarded to agents by the Real Estate Buyer's Agent council (REBAC) of the National Association of Realtors who meet the specified educational and practical experience criteria. To learn more about the indepth requirements an agent needs to fulfill to be awarded the ABR designation, I invite you to visit the Buyer's Agent Council web site.

What is the cost of contracting an Accredited Buyer's Agent?

Maybe you should ask yourself, "what is the cost if I don't"? You wouldn't go to court without a lawyer would you? Purchasing a home without representation is probably the biggest financial risk you can take. Failure to assess the actual value of the property or discover defects could be very costly. A buyer's agent can guide you through every step of the transaction seamlessly. As your buyer's agent you can ask for advice and I can act proactively on your behalf. The actual fee in Boston is typically between 2.5% - 3%.

Who pays the buyer's agent fee?

The Buyer's Agent fee comes from the proceeds of the sale. The total commission is split between the Seller's Agent and the Buyer's Agent. The Buyer and the Seller pay no more than they would have without the Buyer being represented. In other words, it is your legal right to have highly qualified, professional representation working on your behalf in any real estate transaction and it costs you nothing.

Why should I work with an Accredited Buyer's Agent?

I am an expert in the field of real estate with a broad knowledge of the Boston area and the ability to expedite your home search and eliminate your stress by quickly and effortlessly exposing you to the best properties on the market. Once you have narrowed your search I can give you back ground information on the area, prepare a Comparative Market Analysis (CMA) as a point of reference to establish value and then strategize and negotiate on your behalf. My main job is to educate you on both the property and the transaction, effectively eliminating the pitfalls that regularly cost buyer's money.

Will an Accredited Buyer's Agent get me a better deal?

After careful examination of the market, a Buyer's Agent can often negotiate a better price armed with data from recent sales, active properties and those currently under agreement. However, there's more to a real estate transaction than money. A Buyer's Agent is obligated to get their client the best value with the best terms. Just as important, it is their job to make sure their clients get the house they want. Sometimes that entails a more aggressive strategy as is the case in a bidding war. To summarize, an Accredited Buyer's Agent is more likely to get you into your dream house, for a fair price, with good terms, and keep the deal together.

Why would an Accredited Buyer's Agent want me to get a better deal? Doesn't that lower their commission?

Let's look at your typical Boston condo sale. A two bedroom, 1000SF unit goes for around $350,000. The difference between 350K and 340K to the buyer's agent is about $150-175.00 at the end of the day. A happy client means referrals, which is far more valuable.

Why would other agents want to work with an Accredited Buyer's Agent?

Realtors in Boston understand the value of working with a highly trained professional. Transactions are expeditious and mutually satisfactory. Also, in the past buyers were often introduced to property by agents who did not have exclusive buyer contracts. These agents were called "sub-agents" and technically worked for the seller. It turns out that these agents carried too much vicarious liability. After all, how could an agent who had never met the Seller or been inside a property speak for the Seller? When a problem arose, guess who got sued?

Why not use the Seller's agent as a Buyer's agent?

It's not possible. It is a conflict of interest. The Seller's agent would out of necessity become a "dual agent". Dual Agency negates the agents ability to advocate on behalf of either party. They essentially become "paper pushers".

Do I have to sign a contract?

It depends on the agent. The Home Team requires a contract once a customer decides they wish to engage our services. It can be for just one property or indefinitely. You decide. The contract serves multiple purposes – it protects the Buyer's Agent and the time they have spent working for a client and ensures the client that the agent is working in their best interests. A contract can be dissolved at any time, instantly, for any reason.

What does the Buyer's Agent get out of this relationship?

Loyalty. It's much easier to work for someone when you know your hard work will be rewarded. Suppose you went to work one day and your boss said, "Bob, you did a great job this week, you're our best employee. Unfortunately, we can't pay you…". How long would you keep that job? In addition, signing a contract helps to avoid conflict over procuring cause. (Who introduced the client to the property)

What can I expect from a Buyer's Agent?

Loyalty, Disclosure, Confidentiality, Obedience, Care and Diligence, and Accounting of Funds. (See agency disclosure) Beyond these duties, a good agent should offer you personal service. This is where you have to choose the best Buyer's Agent. Who is going to serve you the best. Download my Buyer's Homefinding Proposal to get a glimpse at some of the services I offer. I provide unparalleled customer service as my former clients will attest to. Let's grab a coffee and sit down to talk about how I can help you.