Since the NAR settlement practice changes took effect on August 17, 2024, agents who work through a multiple listing service must have one signed before touring a home with you, in person or virtually. It’s also where you and your buyer’s agent settle how much they’ll be paid and who
What does a buyer agency agreement include?
Most agreements cover the same core terms: who the agent and brokerage are, how long the agreement lasts, the area or kinds of homes it covers, what the agent will do for you, and how it can end. Many also say whether it’s exclusive, meaning you’ll work only with this brokerage
The pay terms get the most attention. Under the rules NAR adopted in its settlement, the agreement must state the amount or rate the agent will receive, or exactly how it will be figured. NAR’s consumer guide gives examples like $0, a flat fee, a percentage or an hourly rate. It can’t be open-ended or a range, and the agent can’t take more than that amount from any source,
The agreement also sets the relationship: whether the agent represents only you, and what happens if you want a home their own brokerage has listed, which can lead to dual agency. Your state’s agency disclosure explains the options
When do you have to sign one?
Before you tour a home with an agent who belongs to an MLS. NAR’s guide says this applies to tours in person or virtual. You don’t need one to walk into an open house on your own or to ask an agent
The requirement comes from NAR and MLS rules, and state law can add its own terms, so the form you see depends on where you buy. Ask for a copy ahead of your first tour so you have time
Who pays the buyer’s agent?
You’re responsible for what the agreement says you’ll pay. But a seller can still agree to cover some or all of it. NAR’s guide says buyers can still request, negotiate for and receive compensation for their agent from the seller or
That request usually goes in your offer. You might ask the seller to pay your agent’s fee directly or to give a seller concession toward your costs. If the seller agrees to less than your agreement promises, the agreement should say whether you
What these offers can’t do anymore is appear on the MLS. Since August 17, 2024, offers of compensation to buyer brokers have to be made
Can you negotiate or cancel a buyer agreement?
Yes, the terms are negotiable. Commissions aren’t set by law, and you can ask for a shorter term, a smaller area, a single property or a different fee
Read the termination section closely. Some agreements let either side end it with written notice; others run to a set end date. Some include a protection period: if you buy a home the agent showed you within a set time after the agreement ends, you may still
This is general information. For questions about a specific agreement, talk to a real estate attorney or your state
Common mistakes
- Thinking the seller always pays your agent. You owe what the agreement says unless the seller
agrees to pay. - Signing without reading the term, the end date and
any protection period. - Assuming there’s a standard fee. It’s negotiable, and the agreement must state a specific
amount or rate. - Believing you need an agreement to visit an open house on your
own. You don’t.
Questions
Do I have to sign a buyer agreement to see a house?
If an agent who belongs to an MLS is showing you the home, yes: they need a written agreement before the tour, in person or virtual. Visiting an open house on your own
Can I ask the seller to pay my agent?
Yes. You can request it in your offer, either as a direct payment to your agent or as a concession toward your costs. The seller can agree,
Can my agent be paid more than the agreement says?
No. Under the NAR settlement rules, an agent working with a buyer can’t receive more from any source than the amount or rate in
Does signing mean I can only work with one agent?
Not always. Some agreements are exclusive for a term, while others are non-exclusive or cover only certain homes. The document
Sources
- NAR: Consumer guide to written buyer agreements
- NAR: Settlement FAQs
- NAR: What the settlement means for home buyers and sellers
Written and checked by the Broker & Agent team on October 2, 2026. General information, not legal, tax or lending advice. Something out of date? Tell us.