Buyers Agent?

Could someone please explain the deal with Buyers Agents???

I thought that agents are really Sellers Agents, and the commission is paid by the seller (typically split - 1/2 for the listing, 1/2 for the sale).

If you have a Buyers Agent, are you then responsible for paying commission too?!?

Re: Buyers Agent?

ok, here's how buyers agency works.

in NYS you have the option to hire your realtor as a sellers agent, a brokers agent, or a buyers agent. as a sellers agent and a brokers agent the seller pays our commission. therefore, we are working in their best interest.

now here's the tricky thing about buyers agency. because its a buyers market right now, 99.9% of listings offer buyer agency compensation in which the seller still pays us but we work in the best interest of the buyer. BUT, that small chance that your agent, whos working as a buyers agent, shows you a house that doesnt offer any buyers agency compensation then there's 2 options. #1 - you pay them their commission. #2 - when they present your offer to the seller they say that X% is coming off the top of that offer amount as their pay (thats usually the most popular).

one thing to remember with buyers agency though, is that your are going to sign a contract that says you cant work with any other realtors.