The Massachusetts Association of Buyer Agents (MABA) is a non-profit association made up of exclusive and single agency offices. They are all licensed real estate agents. All offices are dedicated to the best interests of buyers. You may visit their website by clicking on the logo or going to http://massbuyeragents.com. The association was founded in 1991. MABA, in collaboration with Skyfor, Inc.recently released an important video for consumers to understand if they have a loyal real estate buyers agent or something else. The “something else” may surprise you.
In the late 1980’s and earlier, it was common practice for real estate agents to represent both the buyer and the seller in the same transaction. The founding members of MABA knew that was not in the best interests of consumers, and so set about to help transform the real estate industry.
This state not-for-profit association is one of the oldest in the country. Its founding members initiated the concept of single buyer agency. Single agency is the representation of only one party in the real estate transaction, much like practices of law offices. Many of the members of MABA are also attorneys. Those who are not attorneys themselves, work closely with qualified real estate attorneys to make sure their buyers are well represented. MABA broker/owners have extensive experience in advocating for home buyers.
Even though designated agency is legal in Massachusetts, all MABA members commit to never practice designated agency. Instead they serve only the needs of the buyer.
MABA members pledge the following to buyers when they join the association:
As a MABA Agent, I promise that I and my firm will:
• ALWAYS put the Buyer Client’s interests first and negotiate for the lowest price and most favorable terms possible.
• ALWAYS disclose any potential conflicts of interest as soon as they arise, including any relationships with property sellers, i.e. for sale by owner advertising, facilitator agreements, or represented sellers, before entering into a service agreement with a prospective Buyer Client.
• ALWAYS disclose any interest I and/or my firm may have in real property that may be for sale during the term of a Client’s service agreement that would be located in my service area before entering into a service agreement with a prospective Buyer Client.
• ALWAYS disclose any interest I and/or my firm may have in any other real estate firm located in my service area before entering into a service agreement with a prospective Buyer Client.
• NEVER represent both the Buyer and the Seller in the same transaction.
• NEVER accept incentives to show or to sell any specific property/ies without full disclosure and specific informed consent of the Client.
• NEVER accept incentives to refer a Buyer Client to any specific lender, inspector, lawyer or any other service provider without the full disclosure and specific informed consent of the Client.
• NEVER ask a Buyer Client to waive his/her right to full buyer representation.
For more information on this association, go to the Massachusetts Association of Buyer Agents website.