Buyer Representation

A real estate brokerage representing a buyer must do what is best for the buyer.

A written contract called a buyer representation agreement, creates an agency relationship between the buyer and the brokerage and establishes buyer representation. 

It also explains services the brokerage will provide, establishes a fee arrangement  for the Realtor's services and specifies what obligations a buyer may have.  typically, buyers will be obliged to work exclusively with that brokerage for a period of time.

Confidences a buyer shares with the buyer's agent must be kept confidential.  Although confidential information about the buyer cannot be disclosed, a seller working with a buyer's agent can expect to be treated fairly and honestly.

Dual Representation

Occasionally a real estate brokerage will represent both the buyer and the seller. The buyer and seller must consent to this arrangement in writing. Under this dual representation arrangement, the brokerage must do what is best for both the buyer and the seller.

Since the brokerage's loyalty is divided between the buyer and the seller who have conflicting interests, it is absolutely essential that a dual representation relationship be properly documented.  Representation agreements specifically describe the rights and duties of everyone involved and any limitations to those rights and duties.