Buyer agency agreements after the NAR settlement

It's a written contract that sets out how you and your buyer's agent will work together. It used to be optional in many markets. After the 2024 National Association of REALTORS® settlement, a written agreement is generally needed before an agent tours homes with you.

• The services the agent will provide
• How much the agent will be paid and who pays
• How long the agreement lasts
• Whether it's exclusive or not
• How either of you can end it

The agreement states what your agent will earn. A seller may still offer to pay some or all of it, and you can ask for that in your offer. If the seller pays less than the agreed amount, the agreement says whether you would owe the difference, so read that part closely.

• What exactly will you do for me, from search to closing?
• How are you paid, and what happens if the seller offers less?
• Can I end the agreement if it isn't working out?
• Does the agreement cover only certain areas or home types?

An exclusive agreement means you work with one agent for a set period. A non-exclusive one may let you work with more than one agent. Know which one you're signing, especially if you've already toured homes with someone else.

Tell any new agent if you've signed an agreement or toured homes with another agent. Overlapping exclusive agreements can lead to two agents expecting payment on the same purchase. Reading both agreements first helps you avoid that.

• Is the length reasonable, and can it be shortened?
• Is compensation a flat fee or a percentage?
• What happens if you buy a home you found on your own?
• How do you end the agreement, and is there a fee?

Where we offer realty services, you may get a Realty Purchase Credit of up to 0.5% of the purchase price when you buy with a CapCenter REALTOR® (see Offer details). Your agent will walk you through the buyer agreement before you tour.