This is a document the law requires be provided to a potential client at the first meeting to see a property or evaluate a home (if Seller). It is not a contract, it does not obligate you to work with the Agent. It simply states they explained Agency to you and you understand how they are representing you for the showing(s).
Prior to my first meeting with a potential client, I have a brief conversation with them about the home buying process and reassure them that this isn't the only conversation we'll have.
A Buyer Agent's job is to guide and advise you from start to finish. Providing a comparable market analysis when you've found the home and discussing strategy with you. Ultimately the decision on what to offer is yours.
A good Buyer Agent has a list of professionals in related industries that they can recommend to you, should you need one - for example Loan Officers and Home Inspectors. Your Buyer agent attends the Home Inspection with you and helps you understand and analyze the Home Inspection Report.
A Buyer Agent's job does not end once the Purchase & Sales document has been signed. Knowing when your Loan Commitment Date is and making sure an Extension has been signed, if that date is not going to be met, is just another piece of the job.
I love attending the Closing, while the process is complete, I still want to be there to see them realize their dream has come true...
Best of luck!
There is a lot of good advice that was offered to you, but if you haven't already you should get preapproved before you go out and look at properties with an agent. That way you know what you can afford and the agent knows the price range to find homes in for you.
Here's the 3-step preapproval process if you have not done this already: http://www.brooklinemortgage.com/3-step-preapproval/
Good luck! - Jarred
Whoever you're using as a Buyer's Agent should be doing that with you as much for your benefit as theirs. In a market like we're seeing right now, if you're not prepared for each step you may not be able to respond quickly enough to get the home that you're looking for as many properties are receiving multiple offers at a a time.
Communication is always key between an agent and their client.
Best wishes in your home search.