Found 2 blog entries tagged as buyer representation.

Do You Have to Sign a Buyer Agreement Before a Realtor Shows You a Home in Florida?

In most private-showing situations, yes. If an MLS participant is working with you as a buyer, a written buyer agreement generally must be in place before an in-person or live virtual residential tour. The agreement does not have to be exclusive, statewide, or long-term. Its scope, services, duration, and compensation are negotiable.

The August 2024 change was an MLS practice requirement arising from the National Association of Realtors settlement—not a new Florida law requiring everyone who enters a home to sign the same contract. Florida law separately regulates brokerage relationships and disclosures. Understanding both layers prevents confusion.

Key…

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The recent settlement between the National Association of Realtors (NAR) and several plaintiffs have significantly changed real estate practices, effective August 17, 2024. These changes aim to increase transparency and reduce potential conflicts of interest, reshaping how agent compensation and buyer agreements are handled across the industry.

Key updates include:

  1. Compensation Changes: The most impactful change is the prohibition of listing brokers or sellers offering commission to buyer agents on Multiple Listing Services (MLS). This effectively ends the common practice where sellers paid both the listing agent and buyer’s agent commissions, leading to greater transaction clarity. MLS platforms will now remove any fields related to buyer-agent…

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