ABR® Basic Course Details
Four topic sections that offer real depth.
Here are details on material to be covered at the instructor's
discretion in each section of the Accredited
Buyer Representative® (ABR®) designation
two-day course from Polley
Associates:
Module 1: Agency Theory and Practice
- I. Objectives
- II. History of Real Estate Timeline
- Real Estate’s “Culture of Cooperation”
- Evolution of Buyer’s Representation
- Identifying advantages for buyer representation
- III. Agency Relationships in a Real Estate Transaction
- Parties to agency relationships
- Sub-agency and its decline
- Group Activity 1-1: Duties to Clients
- Fiduciary/statutory duties to a principal/client
- Responsibilities to a customer
- Group Activity 1-2: Duties to the Client
- Group Activity 1-3: Responsibilities to Customers
- Potential penalties for breach of fiduciary duties
- IV. Relationships Between Real Estate Brokerage Companies and Consumers
- V. Office Policy, Standard of Care and Risk Management
- Group Activity 1-5: Office Policy Case Studies
- Brokerage relationships
- Individual Activity 1-6: Your Office Policies
- VI. Creating an Agency Relationship
- Express agreement
- Implied agreement
- Group Activity 1-7: Creating Agency Relationships
- VII. Agency Conflict
- Controversy
- Vicarious liability
- Group Activity 1-8: Vicarious Liability
- Imputed (assumed) knowledge
- Group Activity 1-9: Imputed Knowledge
- Imputed notice
- VIII. NAR’s Policy on Agency Disclosure
- Timely
- Group Activity 1-10: Timeliness Requirement
- Meaningful
- Written
- IX. Risk Reduction Tips for Module 1
- X. Module 1 Review
- XI. Module 1 Self-Assessment Questions
Module 2: Service Delivery
- I. Objectives
- II. How We Work With Buyers
- Group Activity 2-1: Identifying the Level of Service
- III. Buyer Services Provided in a Real Estate Transaction
- IV. Five main stages in a real estate transaction
- Comparing services provided to clients and customers
- Group Activity 2-2: Making Customers Your Clients
- Individual Activity 2-3: Identifying the Level of Service
- Services Buyers Want
- V. Reasonable Care and Diligence to Protect the Buyer-Client
- VI. Properties
- Group Activity 2-4: Identifying Information About Properties
- Resources to find properties
- VII. Recognizing Conflicts of Interest
- Single Agency
- Group Activity 2-5: Single Agency
- Disclosed dual agency
- Group Activity 2-6: Dual Agency and Conflicts of Interest
- Group Activity 2-7: Dual Agency and Servicing the Client
- Group Activity 2-8
- Handling unique circumstances
- VIII. Changing an Agency Role
- IX. Risk Reduction Tips for Module 2
- X. Module 2 Review
- XI. Module 2 Self-Assessment Questions
Module 3: Buyer Consulting Services
- I. Objectives
- II. Understanding Services and Protecting the Broker
- Common Provisions in a Buyer Representation Agreement
- Paying the Brokerage Fees
- II. Building Your Buyer Representation Business
- Group Activity 3-1: Identifying buyers’ needs for representation
- Locating qualified buyers
- Reaching out to potential clients
- Using your ABR® designation to build your business
- IV. Marketing Strategy
- V. Initial Meeting with the Buyer
- Developing a buyer counseling session
- Group Activity 3-3: Preparing for your presentation
- Presenting yourself to the buyer
- Interview and presentation strategies
- Buyers to avoid
- VI. Fair Housing and the Buyer’s Representative
- Group Activity 3-4: Who is Protected by Fair Housing Laws
- VII. Which Law Prevails?
- Market diversity
- How will you handle it if the buyer says:
- Statement of fair housing policy
- Fair housing self-assessment questionnaire
- VIII. Maintaining Your Buyer Representation Business
- Understanding your market as it changes
- Group Activity 3-5: Expanding your services
- IX. Risk Reduction Tips for Module 3
- X. Module 3 Review
- XI. Module 3 Self-Assessment Questions
Module 4: Offers and Negotiation
- I. Objectives
- II. Working Towards a Purchase Contract
- Protecting the buyer-client’s interests through the negotiating process
- Presenting your buyer-client’s offer to a seller-customer
- III. Negotiating as a Buyer’s Representative
- Negotiating opportunities
- Tips for successful negotiations
- Creating a negotiating strategy that tilts the scales in your buyer-client’s favor
- Assessing your buyer’s negotiating position checklist
- Group Activity 4-1: Negotiating Scenarios
- IV. Adhering to the REALTORS® Code of Ethics
- V. Risk Reduction Tips for Module 4
- VI. Module 4 Review
- VII. Module 4 Self-Assessment Questions
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