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A buyer agency agreement is a contract between a real estate broker and a potential home buyer, wherein the broker agrees to show homes to the buyer in exchange for a commission. This video explains the role of a buyer's agent, which includes researching listings, showing homes, and negotiating purchases on the buyer's behalf. The broker earns a commission from the sale price. It also discusses the difference between exclusive and non-exclusive agency agreements. In cases where there is a listing agent, the commissions can be split between agents. Dual agency, where one agent represents both buyer and seller, is mentioned as a potentially illegal practice in some states if certain conditions aren't met.