Straight terms
How we work, and how we are paid.
Real estate changed in 2024. Most of the industry would rather not talk about it. Here is the whole thing, in plain language.
The rules now
Four things, in writing.
01
Everything in writing first
Since August 2024, buyers nationwide sign a written agreement with their agent before touring homes. It names the services, the term, and the compensation, specifically. You read it before anything else happens.
02
Compensation is negotiable
Agent compensation is not set by law and never has been. The agreement states it as a specific number or formula, never an open-ended amount, and you agree to it before the work starts.
03
Who pays gets negotiated too
A seller can offer to cover some or all of the buyer agent's compensation, or offer concessions toward it. It can also be negotiated into the offer, or paid by the buyer. The deal decides, in writing.
04
You see what we see
Net sheets for sellers before listing. Payment math for buyers before offers. Auction terms published before bidding. The numbers arrive before the signatures, every time.
Asked constantly
The 2024 changes, answered.
01Why do I have to sign something before touring homes?
Because the rules changed in August 2024. Agents who belong to the REALTOR association are required to have a written agreement with a buyer before showing homes. It protects both sides: you know exactly what the work costs and what you get for it before anyone opens a door.
02Is the commission a fixed percentage?
No. Compensation is negotiable between you and the brokerage, and the written agreement has to state it specifically: a flat fee, a percentage, or another formula. Anyone telling you there is a standard rate set by law is wrong.
03Can the seller still pay my agent?
Often, yes. Sellers can offer concessions or agree in the purchase contract to cover buyer-agent compensation. What changed is where such offers appear and that nothing is assumed: it gets negotiated and written down in the deal itself.
04What am I signing exactly?
A buyer representation agreement: the services provided, how long it lasts, what the compensation is and how it can be satisfied, and how to end it. Bring questions; walking through it line by line is part of the job.
Plain-language guidance, not legal advice. The written agreements control.
Selling instead? How listings work here / How auctions work
Questions