The real estate landscape has shifted—and if you're buying a home in 2025, you're entering a new era of transparency and negotiation. Thanks to the landmark 2024 NAR settlement, written buyer agreements are now mandatory before touring any property. But what does that mean for you as a buyer? Let’s break it down.
What Is a Buyer Agreement?
A buyer agreement (also called a Buyer-Broker Agreement or BBA) is a written contract between you and your real estate agent. It outlines:
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The services your agent will provide
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How much you’ll pay them (if anything)
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The duration and scope of your relationship
Before August 2024, many buyers toured homes without signing anything. Now, you must sign a buyer agreement before stepping foot into a listing—even virtually.
Key Changes You Need to Know
Here’s what’s new under the 2024 rules:
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Written agreements are required before touring any home listed on an MLS that opted into the settlement.
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Compensation must be clearly stated—no vague ranges or “bonus” clauses.
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Commissions are negotiable and not set by law.
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Buyers now set their agent’s commission, which is no longer automatically paid by the seller.
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MLS listings no longer show buyer agent compensation, so you’ll need to discuss fees directly with your agent.
How to Navigate the New Landscape
Here’s how to protect your interests and make smart decisions:
1. Understand the Scope
Decide whether you want an exclusive agreement (you work with one agent) or non-exclusive (you can work with multiple agents). Exclusive agreements often come with deeper commitment and better service.
2. Negotiate the Commission
You now have the power to set your agent’s fee. Research market rates (typically up to 3%) and ask what services are included. Remember: commissions can’t be rolled into your mortgage, so plan for upfront costs.
3. Review the Fine Print
Look for:
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Duration of the agreement
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Termination clauses
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Whether the agreement covers one property or a full search
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Any “carryover” clauses that could trigger fees after termination
4. Ask the Right Questions
Before signing, ask:
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What services are included?
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Can I cancel if things don’t work out?
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How will you communicate with me?
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Are there any additional fees?
5. Touring Agreements vs. Full Service
Some agents offer “touring agreements” with $0 compensation just to show homes. If you want more support—negotiation, paperwork, closing help—you’ll need a full-service agreement.
Final Thoughts
The new rules are designed to empower buyers—but only if you know how to use them. At 1 Percent Listings, we believe in clarity, fairness, and putting you in control. Whether you're buying your first home or your fifth, we’ll help you navigate the new terrain with confidence.
