What is a Buyer Agency Agreement?

“A written contractual agreement in which an agent commits to provide services necessary to secure a transaction and the purchaser commits to working exclusively with that agent for a specified time period.”

With the advent of “Buyer Agency” (Buyer Brokerage) in the early 1990s as opposed to seller agency, a real estate Agent/Broker agrees and contracts to represent the Buyer in his/her purchase of a home/property. Buyer Agency Agreements were developed to set out the terms and conditions of this representation. They are similar to the written “Listing Agreements”, required between Listing Agents and Sellers (property owners). Buyer Agency Agreements set out the main conditions of the relationship between the Buyer Agent and Buyer Client including such things as the duration of the agreement, the commission to be earned/paid, and the various rights, duties and obligations of the parties.

Many Hillsdale County REALTORS® have earned a Buyer’s Agent Designation by attending special classes to learn how to properly provide such services to their clients.