Buyer's agent
The agent who represents the buyer. They find homes, set up showings, write offers and negotiate. Since 2024 most need a signed buyer agreement before touring homes.
Also called: buyers agent, selling agent, buyer's broker, cooperating agent
Related terms
A contract between a buyer and their agent. It says what the agent does and how they get paid. Since August 2024, MLS rules require one before touring a home.
How the buyer's agent gets paid. It can come from the buyer, from the seller as a concession, or from the listing brokerage. It's set in the buyer agreement and offer.
The agent who represents the seller. They price the home, market it, handle showings and negotiate offers.
The 2024 settlement of commission lawsuits against NAR. Since August 2024, offers of buyer agent pay can't go in the MLS and buyers must sign an agreement before touring.
One agent or brokerage representing both buyer and seller in the same deal. It needs written consent from both, and some states ban it.