Buyer's Agent?

Technically all agents work for the seller and have a duty of ethics to the buyer.

A buyer's broker is someone who is paid by the buyer.

In NYC - the term buyer's broker is referencing the broker working with the buyer. Technically they are not a buyer's broker since the seller is paying and the listing agreement spells out the brokerage relationship...but in NYC the functioning is different on the street.

You can work with either...working with the seller's agent means he'll get more money for the deal so make sure he is competent to assist you. Just make sure whomever you work with - is competent, honest, effcient and will help you with your best interests at heart.

To amplify on what tdemsker said, agency is not about money -- it is contractual. In most of America "buyers' brokers" actually sign contracts with their clients making their agency very clear -- here in NYC, it's more like you meet a broker that you like and you shop with them.

While this does give them responsibilities towards the seller, they still have fiduciary duties of care, confidence, etc. towards you.

Whether you want to work with the NYC version of a buyers' broker is a matter of debate -- some will argue that a first-timer would benefit from having someone "in their corner" -- others would argue that you want to cozy up to the sellers' agent and try to get them to give you a commission break based on the fact that they're taking "both halves."

You might want to check in with urbandigs -- he is a frequent poster on this board who has a buyer-focused practice.

ali r.
{downtown broker}

Definitely do check out Noah's website (urbandigs dot com) -- very informative on this subject.

you can either find apartments yourself (here or nytimmes)and motivate the seller's broker to go with you since they don't have to split the commission -- Or - get a broker you like to do the footwork for you.

Your choice.

In this market -- the buyer runs the game. Good luck.

Sadly, even buyer's brokers are not on your side. They will claim they will be, but remember, the only time they make money is when you buy. I think that fact tells you all you need to know, regardless of what they are legally obligated to do, or what they say, or even feel, they are doing. The only person with your true interests in mind is you. Buyer beware applies to buyers brokers too. The more you learn to do on your own, the better end result you'll get. That has been my experience, anyway. With all agents and brokers, my experience has been BAD, and it was clear their interest is in making money, and the only way they do that is to convince you to buy. I trust none of them now further than I could through them. My 2 cents.

I like to consider myself a buyer's agent, and my fiduciary responsibilities are to my client, the buyer. I managed the process with reasonable care, skill, and diligence, I am loyal, accountable, and obedient, not to mention my focus on research so that I am able to disclose any pertinent information that is helpful in the context of the transaction, for the buyer's best interest. I offer comparables to make an educated offer, I am available 24/7, professional, respectful and creative in my offers. Those are just a few things I offer as a buyer's agent. There isn't a deal that I have done that I regret.

What, exactly, would a "type three secretion" be?