- Buyer's Agent
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The buyer's agent is the individual that represents buyers when they purchase a home. This agent negotiates with listing agents representing home-sellers to come to a final sale price agreed upon by both the buyers and the sellers. The buyer's agent is paid once a deal closes through a selling office commission determined by the sellers of the home.
In the real estate agent community, the buyer's agent is often referred to as the "selling agent." This is pretty confusing to most of us, since you'd think that selling agent refers to the agent that helps sellers sell their the home. The term was coined back in the 1970's when it became common to have different agents representing the buyers and the sellers. Before, only one agent represented both parties, also known as dual agency. The term selling agent still used to track a real estate transaction's progress in the Multiple Listing Service (MLS,) so you may find that real estate agents still refer to the agent helping buyers purchase a home as the selling agent.
