What am I signing in a buyer representation agreement?
An exclusive contract making that agent your representative for a set term and geographic area, with a holdover period afterwards during which you may still owe commission on properties they showed you.
Four terms decide whether this agreement is reasonable.
The term. Six months is commonly presented and thirty to ninety days is perfectly negotiable for a first agreement with someone you have just met.
The territory. If it says the entire Greater Toronto Area and you are shopping one neighbourhood, narrow it.
The commission. See what happens if a listing offers less than the stated percentage.
The holdover. After expiry, you can still owe commission if you buy a property the agent introduced you to. Check the length and make sure it applies only to properties they actually showed you.
The duties your agent owes you once you sign are set by the Real Estate and Business Brokers Act and its code of ethics, not by the form. Those duties are the reason the form is worth reading rather than a substitute for reading it. Ask for the agreement by email and read it before you are standing in a hallway at a showing.
Next questions
Who pays my real estate agent?
Normally the seller, out of the commission set in their listing agreement, which is then shared with your agent. If a listing offers less than your representation agreement specifies, you can be responsible for the difference.
Ontario
What should I ask before hiring a buyer's agent?
Ask how many buyers they closed in your target area and price band in the last year, how they price a property, whether they will ever represent both sides, and what the shortest term they will accept is.
Market practice