Roles
What is buyer's agent?
A buyer's agent represents the purchaser in a property transaction, owing them fiduciary duties and advising on price, terms, negotiation and process — as distinct from the listing agent, who represents the seller.
The practical work is search, access, comparative judgement and negotiation: identifying properties that fit, arranging viewings, assessing value against comparables, and structuring an offer that balances price against terms.
How buyer's agents are compensated has changed materially in several markets, moving from compensation offered automatically through the MLS toward direct written agreements between buyer and agent. The direction of travel is toward explicit, negotiated fees.
The distinction from a listing agent is not seniority or skill but which side of the table the duty runs to.
Related terms
A listing agent represents the seller, taking responsibility for pricing, preparing and marketing the property, managing enquiries and viewings, and negotiating offers on the seller's behalf.
Fiduciary duty is the legal obligation an agent owes a client to act in that client's best interest — including loyalty, confidentiality, full disclosure, obedience to lawful instruction, and reasonable care.
Dual agency is when a single agent or brokerage represents both the buyer and the seller in the same transaction, creating an inherent conflict between two clients with opposing interests.
A commission split is how the fee from a transaction is divided — between the brokerages on each side, and then between each brokerage and its individual agent.