Every answer given to you, so far, is accurate but I'd like to expound further on a Buyer's Agent in relation with what this means when seeking a Realtor in the State of Florida (that may be different in other states).
A buyer's Agent is primarily more for the benefit of the agent who is securing YOU to be loyal to the agent, which means that. if a Buyer's Agent agreement is signed by you and the agent, you sort of promise that no matter what or how, you will have to buy a property strictly from that agent or his broker's firm within the period of time set in the agreement. Be careful, though, because Buyer's Agent Agreements are not a standard form. Buyer's agent Agreement are usually drafted by the agent or the Agent's broker office so the agreement could trap you to work with only that agent or his/her brokerage firm for a long, long time period or indefinitely. Some agents manage to not only get their customers to enter into a Buyer's Agent Agreement but they get you for compensation (work performed and earned) if at the end of the agreement you have not bought a property.
Also, when you seek the help of a professional Florida real estate licensee, that person is automatically, by default, a "Transaction Broker" (similar what used to be called "Dual Agency") which means, in laymen's terms, that when you engage in a contract for sale and purchase, the agent who represents you, either as a buyer or as a seller, then, he/she will have to be fair to the "transaction" (contract) and to all the people involved in that transaction (in any transactions, there are always two parties: a buyer and a seller). And this method is pretty much handled in about 90% of all transactions in the state of Florida, unless, there is another form of representation that a customer prefers - or feel - that is better for him.
There are a few other different representations: Single Agency, Buyer's Agent and Seller's Agent but, which ever capacity you chose, your agent will have to be honest, give you obedience, fiduciary and confidentiality. Each agency will have to be, however, disclosed to all co-broking agents by your own agent. However, every listing an agent acquires, that listing belongs to the Broker, not the agent (i.e. I, John Bourassa, is an Associate with RE/MAX First. RE/MAX first have a bunch of listing producing agents. You seek my services as a "Single Agency" or as a Buyer's Agent". After working together with you and I've shown you many houses. But the one you like best happens to belong to RE/MAX First brokerage. Therefore, even though you want me as a Buyer's Agent, I will have to switch our "agency" relationship from either Single Agent or Buyer's Agent to Transaction Broker because I will then be caught between two possibly conflicting interests.
Since the Transaction Broker Agency was implemented by the State of Florida back in 2003 (or about), that method has proven to be probably the best for Florida licensees which makes transactions sail smoothly for the benefit of both buyers and sellers to a successful and uneventful closing.
However, you can