What is the common type of agency relationship between a buyer and a real estate agent?

The most common type of agency relationship between a buyer and a real estate agent is referred to as buyer's agency. In this relationship, the real estate agent acts as a representative for the buyer, working in their best interests throughout the home purchasing process. This includes negotiating offers, providing market analysis, and guiding the buyer through the complexities of transactions.

Buyer's agency ensures that the agent advocates specifically for the buyer, often resulting in personalized service tailored to the buyer's unique preferences and needs. In this context, the buyer is typically required to sign a contract that formalizes this relationship, granting the agent the responsibility to uphold fiduciary duties such as confidentiality and loyalty.

Other types of agency relationships, like seller's agency, involve the agent acting on behalf of the seller and are therefore not applicable to a buyer-agent relationship. Dual agency can occur when the same agent represents both the buyer and the seller, which can lead to conflicts of interest because the agent must balance the interests of both parties. Exclusive agency refers to a listing type more suited for sellers rather than buyers, as it pertains to rights to sell the property given to an agent. Thus, buyer's agency is clearly the most appropriate and common relationship in the context of representing buyer interests in real estate