What is a "buyer’s agency"?

A buyer’s agency is a professional relationship in which an agent represents the buyer in a real estate transaction. This arrangement establishes a fiduciary duty to act in the best interest of the buyer, providing them with guidance, support, and advocacy throughout the purchasing process. The agent assists the buyer in finding suitable properties, negotiating offers, and navigating the complexities of (often) the legal and financial aspects of acquiring real estate.

In this context, it is important to recognize that the agent’s loyalty is to the buyer, ensuring that their needs and preferences are prioritized. This can lead to a more favorable outcome for the buyer, as the agent’s expertise can help locate properties that meet the buyer's criteria, negotiate terms that align with their interests, and represent their interests during inspections and contracts.

Other options, such as relationships representing the seller, agreements without agents, or partnerships of multiple agents, do not accurately define the scope of a buyer's agency or the exclusive focus and responsibilities of the agent towards the buyer.