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In this video, the speaker, a mortgage lender licensed in 48 states, explains buyer agreements for first-time home buyers and those considering purchasing in another state. Emphasizing their perspective from experience rather than as a real estate agent, they clarify that a buyer agreement formalizes the relationship between a buyer and an agent for a specified period. This agreement specifies that the buyer will exclusively work with that agent, ensuring the agent receives compensation if the buyer successfully finds and purchases a home. The speaker acknowledges the unfairness to agents when buyers work with multiple agents simultaneously, which justifies the need for such agreements.
