Buyers' Market

Learn what a buyer’s agent is in Canadian real estate, what they do, and how they help homebuyers navigate property searches and negotiations.

Buyers' Market

May 22, 2025


What is a Buyers' Market?

A buyer’s agent is a licensed real estate professional who represents the interests of a homebuyer in a real estate transaction. Their role is to help the buyer find a property, negotiate terms, and navigate the purchase process.

Why a Buyers' Market Matters in Real Estate

In Canadian real estate, having a dedicated buyer’s agent can greatly enhance the home buying experience, particularly for first-time buyers or those unfamiliar with the local market. A buyer’s agent works exclusively for the buyer, offering expert advice, conducting property searches, arranging showings, and negotiating the best possible deal.

Unlike a listing agent—who represents the seller—a buyer’s agent has a fiduciary duty to the buyer, including loyalty, confidentiality, and full disclosure. This means they must act in the buyer’s best interests at all times.

Buyer’s agents are typically compensated through the commission paid by the seller, which is split between the listing agent and the buyer’s agent. This makes their services accessible to buyers at no direct cost in most cases.

Choosing the right buyer’s agent is crucial. Buyers should look for professionals with local expertise, strong negotiation skills, and a clear understanding of their client’s needs and financial limits. The relationship may be formalized through a Buyer Representation Agreement (BRA), which sets the terms and expectations of the working relationship.

Example of a Buyers' Market

A couple moving to Halifax hires a buyer’s agent to help them find a family home. The agent schedules property tours, evaluates neighbourhoods, and negotiates a successful offer on a house within their budget.

Key Takeaways

  • Represents the buyer’s interests in a real estate transaction.
  • Provides expert guidance on property searches, negotiations, and closing.
  • Compensated via seller-paid commission in most cases.
  • Legally obligated to act in the buyer’s best interests.
  • Often works under a formal Buyer Representation Agreement.

Related Terms

  • Buyer Representation Agreement
  • Dual Agency
  • Listing Agent
  • Firm Offer
  • Agreement of Purchase and Sale

Additional Terms

Public Realm Improvements

Public realm improvements are enhancements to public spaces such as sidewalks, parks, plazas, and streetscapes, often funded or contributed by. more

Mortgagee in Possession

A mortgagee in possession is a lender who takes control of a property after borrower default, but before foreclosure or power of sale. The lender. more

Lease Surrender Agreement

A lease surrender agreement is a negotiated contract between a landlord and tenant that ends a lease before its scheduled expiration. Terms may. more

Green Infrastructure

Green infrastructure refers to natural or engineered systems that manage stormwater, reduce heat, and improve sustainability in developments.. more

Escrow Holdback

An escrow holdback is a portion of funds withheld at closing and held in escrow until specific conditions are met, such as completion of repairs,. more

Underused Housing Tax

The Underused Housing Tax (UHT) is a federal annual 1% tax on the value of vacant or underused residential property owned by non-resident,. more

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