Glossary

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Buyer Broker
A buyer broker represents the buyer exclusively. When a buyer broker is involved in a sale, the buyer agrees to pay the buyer broker the typical commission instead of the seller. During the home-buying process, the buyer broker exclusively represents the buyer's best interests. Buyers sometimes prefer this because the buyer broker is an advocate for the buyer throughout the entire process, including shopping for homes, inspecting property, negotiating a sales price and closing the deal. When a buyer broker is going to work with a new buyer, he or she will have the buyer sign an agreement that describes the commission that will be paid at the close of the transaction. At this time, buyers have the opportunity to decline the services and utilize the services of a real estate agent.