Encyclopedia
Buyer's agent
A licensee who represents the buyer in a purchase. In BC, the representation is disclosed in writing.
For example: A first-time buyer of a commercial unit signs on with a buyer's agent who will negotiate for them and owes them duties under the rules. (Illustration only, not a real deal.)
Official source: Real Estate Services Rules (BC Laws)
Example only, not a real client. Say you are buying your first investment property. A buyer’s agent helps you find options, reviews the numbers, guides due diligence and negotiates terms, acting for you throughout.
What I’d tell a friend
Get your buyer’s agent agreement in writing and understand who they work for.
Why it matters to you
An agent who works for you owes you their loyalty and advice. Without one, you're relying on the seller's side to tell you what matters.
How to use it in your deal
Buyers should confirm representation in writing and understand how the agent is paid, often from the seller's commission, sometimes under a buyer agency agreement. A buyer's agent owes you duties like loyalty, confidentiality and full disclosure, which an unrepresented buyer doesn't get from the seller's licensee.
Ask about their experience with your property type and area. They should help you check comparable sales, coordinate due diligence, and work with your lawyer on contract terms. Tell them your budget, timeline and must-haves early. If the agent's brokerage also represents the seller, ask how that's handled, since BC restricts dual agency.
Don't expect a licensee to give legal, tax or environmental advice; get those from the right professionals. Read any buyer agency agreement for its term and what happens if you buy without them during that term. Ask in writing who pays the agent and when that payment is earned.
Mistakes I see
Not confirming representation. Not reading the agency agreement. Expecting legal advice.
In BC and Vancouver
The Real Estate Services Act and BC Financial Services Authority (BCFSA) rules require disclosure of representation.
Official sources: Real Estate Services Act (BC Laws) · Real Estate Services Rules (BC Laws) · BC Financial Services Authority
What it means
A buyer’s agent is a licensed agent who represents a buyer in a purchase. They owe duties to the buyer, such as loyalty and confidentiality.
In BC, agents must disclose who they represent before giving services.
What to ask
Ask about their experience with your property type and area, how they are paid and what services the agreement includes, such as market analysis and help with due diligence.
Discuss what happens if a property you like is listed by the same brokerage. BC rules limit when one agent can act for both sides, so ask them to explain how they would handle it.
Questions to ask before you sign
- Do you represent me?
- How are you paid?
- What does our agreement require?
- Who else should I hire?
Keep reading
Related terms: Agency, Dual agency, Tenant rep
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General information for British Columbia only. It isn’t legal, tax, accounting or financial advice, laws and rates change, and reading it doesn’t make you my client. Any numbers or scenarios are hypothetical. Check the linked official source and talk to a lawyer, accountant or other qualified professional before you act or sign anything. See the terms and disclaimer.