What must a buyer's agency agreement clearly state?

A buyer's agency agreement must clearly state that all commissions are negotiable. This is important because it establishes transparency in the relationship between the buyer and the agent. It signifies that the buyer is not bound to pay a predetermined commission and that there is room for discussion and potential adjustment based on various factors, such as the services provided or market conditions.

The understanding that commissions are negotiable encourages open communication between the buyer and the agent, fostering trust and allowing buyers to feel empowered in the process. When buyers are aware that they can negotiate, it can lead to more favorable terms and a better overall experience.

Additionally, it is crucial that such agreements clarify payment terms and conditions, ensuring both parties understand their rights and obligations. This avoids potential disputes later in the transaction.