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The NAR settlement: what changed for buyers

By HomeHunterGuide editors · Updated · About HomeHunterGuide

The NAR settlement: what changed for buyers
Photo: jill, jellidonut, CC BY-SA 2.0, via Wikimedia Commons

Rules for working with a buyer’s agent changed in August 2024 after a settlement by the National Association of Realtors.

What changed

  • Written agreements first. Agents who are Realtors need a written agreement with you before you tour a home with them.
  • Pay must be stated. The agreement must say how much the agent will be paid, as a fixed amount or percentage, and the agent cannot receive more than that from anyone.
  • No offers of compensation on the MLS. Sellers can still offer to pay buyer agents, but not through the MLS listing.

What it means for you

  • Read the agreement before you sign. Check the length, the services and the pay.
  • Fees are negotiable.
  • You can ask the seller to pay some or all of your agent’s fee as part of your offer.
  • Budget for the possibility that you will pay some of it yourself.

Questions to ask an agent

  1. What exactly will you do for me?
  2. How are you paid, and is it negotiable?
  3. How long does the agreement last, and how can I end it?
  4. Will you show me homes where the seller is not offering to pay you?

Frequently asked questions

Do buyers have to pay their agent now?

Not necessarily. Buyer agent pay is negotiable and can still be paid by the seller if agreed. But buyers should be ready for the possibility of paying some of it.

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