Buyer's Agent
Real estate · Reinvent NY glossary
A buyer's agent is a licensed real estate professional who exclusively represents the buyer in a property transaction. Their duties include property search, market analysis, offer strategy, negotiation, and guiding the buyer through closing. In most US markets, the seller historically paid both agents' commissions (typically 5-6% split). After the 2024 NAR settlement, buyer representation agreements are now required, and commission structures are evolving. Buyer's agents familiar with international clients can assist with Foreign National Loans, FIRPTA planning, and cross-border tax implications.
Related Terms
Related Articles
- →The Surrey Residences: Condos Above a Corinthia Hotel
The Surrey Residences at 20 East 76th Street: 14 condominium homes above a 1926 Upper East Side hotel, and what buying one as an overseas purchaser involves.
- →109 East 79th Street: A Steven Harris Condominium
109 East 79th Street, between Park and Lexington Avenues: a limestone and brick condominium by Steven Harris Architects, and what buying there involves.
- →70 Vestry: Robert A.M. Stern's Tribeca Waterfront Condo
70 Vestry, 70 Vestry Street in Tribeca: Robert A.M. Stern's 14-storey limestone condominium facing Hudson River Park, and what buying there involves.
- →760 Madison Avenue: The Giorgio Armani Residences
760 Madison Avenue, The Giorgio Armani Residences: ten condominiums above the Armani flagship at East 65th Street, and what buying one from abroad involves.
Keep reading
Looking at a specific building or budget?
Talk to us about it