The Role of a Buying Agent

When looking at properties, you might be inclined to contact (and subsequently negotiate with) the selling agent listed on the sign. But buyer beware: Selling agents have an obligation to achieve the best possible outcome for their client, the seller, and that means getting the best (read: highest) price for the home, and placing terms beneficial to the seller in the final agreement.

A buying agent is your partner in the home buying process, someone with connections in the real estate world and experience with the home buying process. They act as your researcher (tracking and presenting properties that fit your criteria) and filter (steering you away from homes that aren't a great match). They are honest tour guides, disclosing relevant details about the property (defects that may lower appreciation, neighborhood crime rates, etc). And, most importantly, they represent your interests in negotiations with the seller and their agent. They will seek the price range you want, and push for contractual terms and contingencies you request.

When first meeting an agent, they must present you with a disclosure outlining their role as a buying agent. Signing the disclosure doesn't legally bind you to the agent; it's simply your acknowledgement of the agent/client relationship. They may also present you with a Buyer Broker Agreement, which is legally binding. Not every agent uses broker agreements, and you don't have sign a contract to seek their counsel, but some agents may elect not to work with clients who don't sign. Either way, their services come without charge to you ? the selling agent pays their commission.