Kaplan Inc., the global educational services company, has created the Buyer Agency Professional (BAP) designation for buyer agents in the post-Sitzer/Burnett real estate environment.
“On a scale of one to 10, the National Association of Realtors’ decision to change how commissions are secured is a 10,” said Toby Schifsky, vice president of real estate education at Kaplan. “This is by far the biggest change to hit the real estate industry in more than 30 years, and has added a new dimension of uncertainty among agents on how they are going to secure their fees when representing buyers. That’s not good for them, their clients, or the market. The Buyer Agency Professional designation not only educates agents on the best processes and tactics to use when securing their fees, but also teaches them how to compete and market their services to get ahead on this significantly different landscape.”
The BAP designation requires an eight-hour live online course that covers the responsibilities of a buyer agent, including how to demonstrate value to potential buyers, how to secure professional fees in the wake of the new commission structure, and how to craft a professional service agreement.
“We also believe that potential buyers are going to look to hire agents who have this designation, as it demonstrates both their command of the new buyer representative/agency model and commitment to excellence,” added Schifsky.
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