By Hillel Fried, Licensed Associate Real Estate Broker (NY license 10301213249), founder of The Hillel Team at Compass. Updated November 2026.
Quick answer
A buyer's agent is a licensed agent you hire to represent you, and only you, when you buy. New York State spells out what that agent owes you: "reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account."
The same form says a buyer's agent "does not represent the interest of the seller." That's the point of having one. Apart from your attorney, everyone else in the deal answers to someone other than you.
You deal with the listing agent directly. That agent's job is to get the seller the best price and terms they can.
You can still expect honesty. Under the state form, a seller's agent dealing with a buyer should "deal honestly, fairly and in good faith," and has to disclose known facts that affect the property's value. What you won't get is advice on what to offer, where the price is soft, or when to walk away.
Some buyers end up on a second path without meaning to. The listing agent offers to represent them as well. That's dual agency, and New York only allows it with written, informed consent from both buyer and seller. The form is blunt about the trade: by agreeing, buyer and seller "are giving up their right to undivided loyalty."
Your own buyer's agent | The listing agent only | |
|---|---|---|
Who the agent works for | You | The seller |
Undivided loyalty | To you | To the seller |
Advice on what to offer | Yes, from recent sales in and around the building | No. Their job is the seller's price |
Off-market apartments | Your agent asks other agents | You find them yourself |
Co-op board application | Built with you, and you're prepped for the interview | Mostly on you |
What you pay an agent | Set in your buyer agreement; the seller may cover it | Nothing of your own |
Some buyers do fine alone. Usually they already know the building, they know what similar apartments sold for, and they have a real estate attorney they trust. If that's you, you may not need us.
For most people, though, it's a lot to take on. Especially a first purchase in Manhattan, and especially a co-op, where the board application and interview come on top of the deal itself.
You'll know the cost before you start. Since 1 January 2024, REBNY has required any payment from the seller to go to your agent directly. Since 17 August 2024, your fee has to be written into a buyer agreement before your first tour. Our guide to buyer's agent commission in NYC covers who pays what.
Whether it's worth it comes down to two things: what your agent gets you on price and terms, and how much work they take off your plate.
We've worked in New York since 2014, across 800+ transactions and $1.3 billion in sales, and we've been named the #1 Team at LGF Compass eight times. Hillel represents buyers about three times as often as sellers.
Here's what our buyers say about it:
"When it came to negotiating he did an amazing job, achieving a significant reduction of the initial price." Amarto Rajaram, first-time buyer, Gramercy, 2019 (Zillow review)
"His responsiveness to our detailed questions was amazing, and his deep knowledge of the New York City market was incredibly reassuring for us as first-time buyers." Simran Virdi, buyer, 2024 (Zillow review)
"He listened to what I wanted and helped me find what I was looking for in my price range, as well as be very involved and proactive throughout the entire process." Nicole Eggold, first-time buyer, Fort Greene, 2016 (Zillow review)
The fourth one matters more than people expect. It's one of the things our own clients mention most in their reviews.
No law requires one. But the listing agent represents the seller, so a buyer's agent is the only agent working for you.
You deal with the listing agent, who represents the seller. They have to deal honestly with you, but they won't advise you on price or terms.
Only as a dual agent, with written, informed consent from you and the seller. Both of you give up the right to undivided loyalty.
Only if the seller pays the whole fee. Your buyer agreement sets what you owe if the seller pays less.
Yes. A New York State disclosure form that explains the agent's role and says at the top "THIS IS NOT A CONTRACT", and a written buyer agreement before your first tour.
No one requires it. A co-op does add a board application and an interview, and a buyer's agent puts that together with you.
If they get you a better price or better terms, yes. Before you sign, ask any agent how they've done that for other buyers.
Thinking about buying in Manhattan or Brooklyn? Call us. We'll tell you plainly whether you need an agent for what you're buying.