Written Buyer Agreements Required

Effective Aug. 12, 2024 with the new Mandates from NAR MLS Policy changes which require a written Buyer Representatives Agreement BEFORE touring a property. This applies to all MLS Now members both REALTOR® and non-realtor.  

NEW NAR POLICYSTATEMENT 8.13
Written Buyer Agreements Required
Unless inconsistent with state or federal law or regulation, all MLS Participants working with a buyer must enter into a written agreement with the buyer prior to touring a home.
The written agreement must include:
a. a specific and conspicuous disclosure of the amount or rate of compensation the Participant will receive or how this amount will be determined, to the extent that the Participant will receive compensation from any source.
b. the amount of compensation in a manner that is objectively ascertainable and not open-ended.
c. a term that prohibits the Participant from receiving compensation for brokerage services from any source that exceeds the amount or rate agreed to in the agreement with the buyer; and
d. a conspicuous statement that broker fees and commissions are not set by law and are fully negotiable