What should a licensee ensure when practicing buyer agency?

In buyer agency, the primary responsibility of a licensee is to advocate for the buyer's best interests. This fiduciary duty requires the agent to prioritize the buyer's needs, preferences, and goals throughout the real estate transaction. The licensee must provide guidance, negotiate on behalf of the buyer, and ensure that the buyer is informed and empowered to make decisions that ultimately serve their interests.

This advocacy relationship is established to ensure that the buyer receives fair representation in the purchasing process, which can involve various aspects such as pricing, conditions of the sale, and negotiation strategies. By focusing on the buyer's needs, the agent helps to navigate the complexities of real estate transactions effectively, ensuring that the buyer is well-supported in their decisions.

Remaining neutral, having the most listings, or charging lower commissions may not serve the buyer's interests effectively and could potentially undermine the agency relationship. Fostering strong business relationships is important, but this should not come at the expense of the buyer's representation and advocacy. Similarly, while having numerous listings or competitive pricing can be beneficial in certain contexts, they do not directly relate to fulfilling the agent's obligation to act in the buyer's best interests as a fiduciary.