What Is a Buyer's Representation Agreement?
A Buyer's Representation Agreement is a document that formally establishes a working relationship between a homebuyer and their real estate agent (also called a Buyer's Agent).
What It Means for You as the Buyer
By signing this agreement, you're agreeing to:
- Work exclusively with your chosen agent for your home search
- Communicate openly and honestly throughout the process
- Notify your agent before visiting or contacting builders or other sellers
- Allow your agent to guide and represent you in all negotiations
- Respect the time, effort, and expertise your agent brings to the transaction
What Your Agent Will Do
- Help you search for and evaluate homes
- Negotiate on your behalf
- Guide you through inspections, financing, and closing
- Protect your interests every step of the way
- Provide you with market insight and updates
Who Pays the Agent?
In most cases, the seller pays the buyer's agent's commission, which is split with the listing agent. You typically won't owe your agent anything out-of-pocket — but the agreement may explain exceptions, just in case.
How Long Does It Last?
- The agreement will include a start and end date
- If you find that it's not working out, most agents are open to releasing you early — just communicate!
Bottom line: This agreement gives you a dedicated advocate in your home search — and ensures you've got someone truly on your side.