A Buyer Brokerage Agreement is a legal document that outlines the relationship between a buyer and a real estate broker. This agreement is used when a buyer wants to work with a broker to help them find and purchase property.

As of August 17, 2024, Real Estate Agents working with a buyer must enter into a written buyer agreement before the buyer can tour a home, whether in person or virtually. The practice changes do not require an agency agreement or dictate any type of relationship.

When signing a contract with their agent, buyers will need to discuss and negotiate the commission. However, this doesn’t necessarily mean that the buyer will be responsible for covering the agent’s fee. The question of who pays the buyer’s agent can become an additional point of negotiation when the buyer submits an offer to the seller.

Now more than ever, it’s essential to choose a Realtor® who is knowledgeable, trustworthy, and professional to guide you through your home search. In today’s fast-paced and often unpredictable real estate market, having an expert by your side can make all the difference. A knowledgeable Real Estate Agent not only understands the nuances of the market but also stays updated on the latest trends, regulations, and neighborhood dynamics. This expertise enables them to provide valuable insights that help you make informed decisions, whether you’re a first-time buyer or a seasoned investor.