What is a Buyer Broker Agreement and why should I sign one?
A Buyer Broker Agreement is a contractual agreement between a buyer and real estate agent that precisely outlines responsibilities, representation, and compensation. By default, all real estate agents work for the seller (even if the agents and sellers have never met before), and have a legal obligation to protect the interests of those sellers. As such, the seller agents can provide information about particular properties to buyers, but their primary loyalty is to the sellers of the properties. A seller agent, cannot do anything that would be in the interests of the buyer rather than the seller. A Buyer Broker Agreement establishes that the real estate agent works for the Buyer exclusively and owes loyalty, honesty and fiduciary duties to the buyer alone. By signing a Buyer Broker Agreement, you allow your real estate agent to completely represent your interests. They can also talk to you about real estate in general (including providing information about potential market downturns an
