The Importance of a Buyer’s Agent
It is prudent that a Buyer looking for investment property or a different property for their business select a Broker that works specifically for them and who will locate, analyze and negotiate on their behalf with the confidence that their interests are being protected by a Buyer-Broker Agreement.
A Buyer may mistakenly believe that the Broker or Agent they are working with has the responsibility to protect their interests but without a signed Buyer-Broker Agreement Broker is actually a sub-agent for the selling Broker.
The Buyer’s Agent has the same responsibilities to the Buyer as a Listing Agent does to a Seller.
A Buyer Agency relationship is established in the same way as any other agency relationship: by contract or agreement.
An Exclusive Buyer Agency Agreement (or exclusive right to represent) establishes an employment contract between the Buyer and the Broker and binds the Broker to exclusively represent the Buyer in the search for properties and representing their client.