What changed in 2024 (and matters in 2026)
The NAR settlement in 2024 fundamentally changed how buyer's agents get paid:
- You must sign a buyer-representation agreement before your first showing.
- The seller no longer automatically pays the buyer's agent. The commission is negotiated between you, your agent, and the seller (usually still paid by the seller, but you're on the hook if not).
- Commission amounts and terms are more visible and negotiable.
The practical impact: read the buyer agreement carefully before signing. It's a real contract. If your agent quotes 3% and the seller only offers 2%, you may owe the 1% difference at close.
The five questions to ask every agent you interview
1. 'How many buyer clients have you closed in the last 12 months in this price range and area?' You want someone with recent, local, matched-tier experience.
2. 'Walk me through your negotiation strategy on a competitive offer.' Great agents have a clear framework (escalation, appraisal gap, timeline) — not just 'we'll offer strong.'
3. 'How do you handle the inspection period?' You want someone who's willing to walk if the inspection is bad, not push you to close.
4. 'What's your response time expectation?' In hot markets, an agent who takes 6 hours to reply costs you deals.
5. 'What are your loan officer relationships?' Agents who work with 3–5 solid LOs (not just one referral source) usually have more balanced advice.
The red flags to walk away from
- Pressures you to sign an exclusive agreement immediately without letting you interview others
- Won't provide references from recent buyer clients
- Doesn't ask about your finances early (a great agent qualifies you before wasting your time showing homes you can't buy)
- Only shows you homes at the top of your budget
- Refers you to only one lender and gets defensive about second opinions
- Has a long buyer-agreement term (>90 days) without an easy termination clause
Is this path right for you?
Frequently asked questions
Do I have to sign a buyer's agent agreement?
As of August 2024, yes — you must sign one before an agent shows you a home. Terms are negotiable; length and fee are the two most important lines.
Who pays the buyer's agent commission?
Usually the seller through the listing agreement, but you may be responsible for any shortfall between what your agent charges and what the seller offers. Confirm this in writing before you tour.
Can I fire my agent?
Yes — but read the agreement. Most allow termination with written notice, but some have protection periods where you owe commission if you buy a home the agent showed you.
Related guides
- The Complete First-Time Homebuyer's Readiness Guide
- How much home you can actually afford
- Pre-approval checklist
- Back to the Knowledge Base
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