What must occur for a broker to officially be a buyers agent?

For a broker to officially act as a buyer's agent, it is essential for them to have the buyer sign a buyer agency agreement. This written agreement establishes a formal relationship between the broker and the buyer, delineating the responsibilities and obligations of both parties. It outlines the scope of services the broker will provide, including fiduciary duties such as loyalty, confidentiality, and full disclosure, ensuring that the buyer’s interests are prioritized throughout the real estate transaction process.

Without this signed agreement, the broker does not have the legal authority or formal designation as a buyer's agent, which protects both the buyer and the broker in their interactions and transactions. The agreement should detail the expectations, the duration of the agency, and any compensation details, providing clarity and legal standing to the representation.

The other options, such as representing multiple buyers, obtaining a commission, or having a verbal contract, do not satisfy the necessary requirement to establish the official agency relationship. While these may be elements of a broker’s business operations, they do not fulfill the formal requirement that comes with being a recognized buyer's agent in Montana real estate practice.