Last updated: November 2026
The quick answer: A buyer's agent represents you, the buyer, from the first conversation to the day you get the keys. In New York City that means researching what your budget can realistically buy, setting up and touring homes with you, building a complete offer, advocating for you through due diligence, and keeping your attorney, lender and building moving until closing.
Most first-time buyers think a buyer's agent sends listings and books appointments. That's the smallest part of the job. I think of the job as getting you home, and that involves far more than most people realize. Here's what it looks like, step by step.
How a buyer's agent gets you home, step by step
1. Market research on what you need
When I meet a new buyer, my first step isn't sending listings. It's research: what does history tell us is realistic for what you want? Have 6 homes like this sold in your target area in the past year, or 36? Does what you're looking for exist there at all? If you want a prewar co-op in Dumbo, for example, that doesn't exist. This research helps me understand what you like, and it lets us set expectations together before you fall for something that isn't out there.
2. Touring
Once we're touring, my job is to make your life easier. I set up listing alerts so nothing new slips past you, and we keep an eye on the market together, including what sells and for how much. I set up the showings, often several in a day, and we visit many properties together. Seeing so many homes side by side, I can help you spot what you might be missing: the layout that won't work with a crib, the building issue the listing doesn't mention, or the apartment that's priced better than it looks.
3. Making an offer
One of the biggest misconceptions is that an offer is just about price. What matters most is a complete package with strong terms. That means understanding the levers a seller cares about, like your financing, your down payment, your timing and how ready you are for a co-op board, and presenting all of it clearly. A strong package can beat a higher number.
4. Due diligence and contract
In New York City, an accepted offer isn't binding. Your attorney reviews the building, the financials and the contract before you sign and put down your deposit, usually 10%. During that window I'm your advocate, making sure the sellers want to work with us and keeping the deal on track while your attorney does the review.
5. Financing and board approval
After contract, communication with every team is key, every day: your lender, your attorney, the seller's side and the managing agent. In a co-op, that includes building your board package and prepping you for the board interview. When something stalls, I apply pressure to management and other stakeholders so your closing date holds.
6. Closing and moving in
I schedule the final walk-through, answer closing cost questions, and help with move-in details from the building. Then you get the keys.
What's different about buying in New York City
- Your agent and your attorney are a team. A buyer's agent doesn't replace a real estate attorney. In NYC, the attorney handles the contract and legal due diligence, and the agent handles the search, the offer, the negotiation and everything that keeps the deal moving.
- Co-op boards. Most NYC co-ops require a detailed board package and an interview, and many set their own rules on down payment and how much cash you keep after closing.
- New development. Buying from a developer means a sponsor contract and an offering plan, and new development comes with different closing costs and contract terms than a resale. As your buyer's agent, I understand which levers to push to get you the best deal and terms.
The buyer agreement you'll sign before touring
Since January 13, 2025, REBNY has required a written buyer agreement before an agent can show you a home listed on its Residential Listing Service, following the national NAR settlement rules that took effect in August 2024. In practice, most NYC agents will ask you to sign one before your first showing.
That agreement can be short and non-exclusive (StreetEasy offers a short-term touring agreement, for example), or a longer exclusive agreement with one agent for your whole search. Either way, it should spell out:
- How your agent will be paid, and how much
- Whether the agreement is exclusive, and for how long
- What happens if the seller doesn't offer compensation to the buyer's agent
- What your agent is responsible for, and what you are
New York also requires agents to give you an agency disclosure form that explains who they represent. Ask any agent you're considering to walk you through both documents before you sign. Nothing here is legal advice, and your attorney can review the agreement too.
Frequently asked questions
What does a buyer's agent do?
A buyer's agent represents the buyer through the whole purchase: researching what's realistic for your needs, setting up and touring homes, building and negotiating your offer, advocating for you through due diligence, and keeping the attorney, lender and building on track through closing.
Does buying without an agent save money?
Many buyers think so, because without a buyer's agent, the 1 to 2% that would have gone to one could be passed back as a lower price. The reality is that there's probably money left on the table in other areas, like the price itself, the terms and credits, and issues that come up in due diligence, that an experienced agent knows how to negotiate.
Do I need a buyer's agent to buy in NYC?
No, it isn't required. But NYC purchases involve co-op boards, attorney-led due diligence and offers that aren't binding until contract, so most buyers find an agent's help worth it, especially the first time.
Who pays the buyer's agent in NYC?
It's negotiable. Your buyer agreement states how and how much your agent is paid. Sellers often still offer compensation to the buyer's agent through the listing broker, but it is no longer automatic, so read that part of the agreement closely.
Do I have to sign an agreement before touring a home with an agent?
In most cases, yes. Since January 13, 2025, REBNY has required a written buyer agreement before an agent shows you a home listed on its Residential Listing Service. It can be a short, non-exclusive touring agreement.
What's the difference between a buyer's agent and a listing agent?
A listing agent represents the seller and works to get the highest price and best terms for them. A buyer's agent represents you and works to get you the right home at the right price and terms.
Does a buyer's agent replace a real estate attorney?
No. In New York City, buyers hire their own real estate attorney to review the contract and the building. Your agent works alongside the attorney and often recommends one.