Buyer Agency and a real estate agent who represents buyers exclusively are known as a Buyer’s Brokers. I am just such an agent.
In the past the seller was the only person represented in a transaction, often by as many as two agents and two different companies. Very seldom was the buyer represented, unless it was through an attorney. Now it is possible for both parties to be represented in the transaction through the use of a Buyer’s Broker.
It works very similar to the seller’s listing contract with a broker. The difference is that the buyer, who chooses to be represented by a broker in the transaction, enters into a formal agreement with the broker to locate and negotiate the purchase of a property. Compensation can be structured in several different ways, but typically, the buyer’s broker receives compensation out of the seller’s funds at closing.
Whether this is will your first or 50th purchase, I welcome the opportunity to explain the benefits of Buyer’s Agency to you in greater detail. Do not hesitate to pick up the phone and call, it could mean the difference of thousands of dollars to you.