📝 Why Buyer Agreements Are Now Required — And Why That’s a Good Thing for You

As of August 2024, the way you tour homes with a real estate agent has officially changed — and for the better.

✅ The New Rule

Under a new rule from the National Association of Realtors (NAR) they came about from a $418 million antitrust settlement, buyers are now required to sign a written agreement before viewing homes with an agent.

You might be thinking:
"Wait… I have to sign something just to look at houses?"
Yes — and here’s why that’s actually a great move for you.

🛡️ Not All Agents Represent You

One of the biggest misconceptions in real estate is that the person showing you homes is automatically working for you.
They’re not.

Unless you’ve signed a buyer agreement, that agent could be:

• Working directly for the seller

• Obligated to disclose your conversations to help their client (not you)

• Legally bound to get the best deal for the seller — even if it costs you money

🤝 A Buyer Agreement = Real Representation

When you sign a buyer agreement, you’re formally hiring an agent to represent your interests — just like the seller hired their listing agent.

That means you get:

• Fiduciary protection (your agent must act in your best interest)

• Loyalty and confidentiality

• Strategic advice built around your goals, not someone else’s

🚫 It’s Not Red Tape. It’s a Safety Net.

This rule wasn’t created to make things harder — it was designed to make things safer.
For too long, buyers have toured homes without understanding who’s actually on their side. Now, there’s no more gray area.

🔍 Not Ready to Buy Yet? That’s OK.

Signing an agreement doesn’t mean you’re locked into anything forever. It just means you’ll know who’s representing who if you start touring homes.

It can be customized for your timeline, price range, or even just a few showings. The point is: you deserve clarity and protection from day one.

💵 Who Pays the Agent? Let’s Clear That Up.

One of the biggest questions I get is:
“If I sign a buyer agreement… does that mean I have to pay you out of pocket?”

The short answer? Not necessarily.
Here’s how it works:

• Most of the time, I’m still able to negotiate for the seller to cover my fee — just like they’ve done for years.

• Your buyer agreement will outline the total fee, and it will also show that I’ll first seek compensation from the seller side.
  If the seller or listing agent offers it, great — you owe nothing extra.

• If they don’t? We’ll talk through your options before writing any offers, so you always know what to expect.

✅ The goal is full transparency — and to make sure you get real representation without surprises.

📲 Want to Learn More? Let’s Talk.

If you’re thinking about buying — even if you're just starting your search — I’d love to walk you through what this change means and how I can help you navigate it confidently.

Jacob Phillips, Broker-Associate, ABR®, CRB, PSA
📱 660-238-5332 (cell)
📞 660-886-3388 (office)
🌐 jacob.mywaypointhome.com

🔗 Want more info straight from the National Association of Realtors? Here's a helpful FAQ for consumers.