The Buyer's broker, and any sales person working for this broker, is representing the buyer's interests and has fiduciary responsibilities to the Buyer, but is obligated to treat all parties with honesty. The Buyer's broker, and any sales person working for this broker, without breaching the fiduciary responsibilities to the Buyer, may, among other services, provide a seller with information about the transaction. The Buyer's broker, and any sales person working for this broker, also has the duty to respond accurately and honestly to Seller's questions and disclose material facts about the transaction, submit promptly all offers to purchase through proper procedures, and serve without unlawful discrimination. 
The "spirit" of buyer agency is to provide the buyer with true representation in their transaction. Fiduciary responsibility to the buyer include Care, Obedience, Accountability, Loyalty, and Full Disclosure of known facts. 

It is our opinion that more than 95% of today's buyers, working with a real estate broker, are being represented by that broker as a buyer's agent. Though in the time line of real estate brokerage services buyer agency is a relatively new concept, it has caught on quickly and changed the way in which buyer's purchase homes today.

 
 
BUYER AGENCY & COMMISSIONS
Buyer agents can be compensated by either the buyer they represent or, more commonly, by the seller of the property that their buyer purchases. There are a variety of "buyer agency" contracts used by today's real estate brokers. As a consumer, this is an area in which you should become very educated.
 
 
 BUYER AGENCY & CONTRACTS
Like a seller, you too should interview a few agent/companies to see what services are offered to you as a buyer and what you are committed to when you sign a "buyer agency" contract. Here are some things to cautiously look for. 
1) Length of the agreement & cancellation rights of the parties. You don't want to be "locked" into an agreement with an agent/company that is not producing good results for you. Make sure you have an exit clause that enables you to cancel without penalty. 
2) For Sale By Owner. Be clear of the procedures and obligations you have to your agent with respect to FSBO's. Many buyer agent contracts protect the agent's commission even if the seller is unwilling or not responsible to pay your buyer agent a commission. Don't wait to address this possible scenario with your agent. It could cost you the home you want or a commission you don't want to pay. 
3) What services will be provided and how quickly can your request to see a property be accommodated? If it takes an agent too long to notify you of new listings on the market or takes too long to get you into see the property, you will lose out on the best homes in today's fast paced seller's market. 
4) What is the experience level of your agent? This is critical. If your agent has little experience or is not full time, your at a disadvantage from the onset. Whether you are hiring an attorney, surgeon, financial advisor, or a real estate agent, you certainly want someone who is experienced. It is their experience that will ultimately save you from making costly errors while helping you to achieve your real estate goals. 
5) Review and compare the contracts from various agents/companies. Hint: look for services that will be provided, length of the contract, financial commitments (retainer fees & commissions) CAUTION: Some buyer agent contracts require you to pay your agent's commission if the seller is not willing (FSBO) or contractually required to through the commission split offered on the Realtor's MLS.
 
 
LUKE REAL ESTATE POLICIES
 Properties Listed With Real Estate Companies 
As your buyer agent, we agree to accept whatever the predetermined commission spilt is on the home you wish to purchase. You are therefore not responsible for any commissions paid to us and are never responsible for a specified commission rate. 
For Sale By Owner Properties 
Many for sale by owner's are willing to pay a commission that they feel is "fair". If they are unwilling to pay us, we allow you to exit your buyer agency contract with absolutely no obligation and move forward on your own.