BUYER AGENCY in NEW HAMPSHIRE
What You Need to Know
What Is Buyer Agency?
Buyer agency is a legal relationship between a homebuyer and a real estate agent, ensuring that the agent represents the buyer’s best interests throughout the home-buying process. When you enter into a Buyer Agency Agreement, your agent is obligated to advocate for you, negotiate on your behalf, and provide expert guidance—all with your best interests as the priority.
The Buyer Agency Agreement & 2024 NAR Settlement
As of 2024, the National Association of Realtors (NAR) settlement requires that homebuyers must have a signed Buyer Agency Agreement in place before viewing homes with a real estate agent. This change ensures transparency, clarifies the agent’s role, and protects both buyers and agents in the transaction.
A Buyer Agency Agreement outlines:
- The duties and responsibilities of your real estate agent
- The scope of representation and commitment from both parties
- How the agent is compensated, which may include seller-paid or buyer-paid commissions
- The duration of the agreement and any specific terms you agree upon
Benefits of Having a Buyer Agency Agreement
✅ Exclusive Representation – Your agent is committed to advocating for your best interests, not the seller’s.
✅ Negotiation Power – Your agent will negotiate price, terms, contingencies, and repairs on your behalf.
✅ Market Expertise – A knowledgeable buyer’s agent provides insights into local market trends, pricing, and home values.
✅ Access to Homes & Off-Market Properties – Get priority access to listings, including coming-soon properties and private showings.
✅ Guidance Through the Process – From financing options to inspections and closing, your agent ensures a smooth experience.
Frequently Asked Questions (FAQs)
Q: Why do I need to sign a Buyer Agency Agreement before seeing a home?
A: The new NAR settlement requires buyers to have a signed agreement before touring properties. This ensures both the buyer and agent understand their commitments and roles from the start.
Q: Do I have to pay my buyer’s agent?
A: Compensation is typically discussed in the Buyer Agency Agreement. In many cases, the seller pays the buyer’s agent’s commission, but alternative structures may apply depending on the situation.
Q: Can I work with multiple agents?
A: No, a Buyer Agency Agreement is an exclusive contract with one agent or brokerage, ensuring dedicated representation.
Q: What happens if I find a home on my own?
A: Your agent can still help you negotiate, ensure legal protections, and guide you through the purchase, even if you find a home independently.
Q: Can I cancel a Buyer Agency Agreement?
A: Yes, agreements often include termination clauses. If you’re unhappy with your representation, discuss options with your agent.
Want to learn more?
National Association of Realtors
Important Documents
- Exclusive Buyer Agency Agreement (NH)
- Brokerage Relationship Disclosure Form
- Note: We practice Designated Agency in almost all our transactions. If this is not the case in your transaction, we will discuss your options with you.
Ready to Start Your Home Search?
At Woods & Water Realty, we take pride in offering expert representation and guidance for our buyers. If you’re ready to start your search, let’s connect and discuss how we can help you find your perfect home—while ensuring you’re fully protected and informed every step of the way.
📩 Contact us today to schedule a consultation!