In most US states, until the 1990s, buyers who worked with an agent of a real estate broker in finding a house were customers of the brokerage, since, by most common law of most states at the time, the broker represented only sellers. Only in the last fifteen years or so have states passed statute law to create buyers' agency.

Today, if the buyer is working with a broker other than the brokerage which "lists" the property, he may choose to enter into a buyer-brokerage agreement to be represented. (In some cases where dual agency is permitted by law, even the listing broker may represent the buyer). If the buyer does not enter into this agreement, he/she remains as a customer of the broker who is then the sub-agent of seller's broker.

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With the increase in the practice of Buyer Agency, agents (acting under their brokers) have been able to represent buyers in the transaction with a written "Buyer Agency Agreement" not unlike the "Listing Agreement" between brokers and sellers (often referred to as seller agency).

The real estate professional, upon entering into a written agreement with a Buyer, agrees to work solely for the buyer, and, in return, the buyer agrees to exclusive representation.

At this point, a real estate brokerage owes the buyer the duties of:

• Loyalty to the buyer by acting in the buyer's best interest.
  
  
• Confidentiality by not disclosing facts that could influence the buyers ability to negotiate the best terms.
  
  
• Disclosure to other parties in the transaction that the licensee has been engaged as a buyer's agent.

The broker negotiates price and terms on behalf of the buyers and prepares standard real estate purchase contract by filling in the blanks in the contract form. The buyer's agent acts as a fiduciary for the buyer.

To learn select a Buyers Agent, you can seach our member directory by, clicking here.