Is a buyer broker agreement required?

Yes, as of August 2024, NAR rules require a written buyer representation agreement before an agent can show properties to a buyer.

Who pays the buyer's agent under the new rules?

Under NAR settlement rules, buyer agent compensation is negotiable. It can be paid by the buyer, offered by the seller as a concession, or negotiated as part of the purchase agreement.

What Is a Buyer Broker Agreement? 2026 NAR Settlement Update

Important Disclaimer

This article provides general information. Consult with your broker and legal counsel for guidance specific to your jurisdiction.

The August 2024 NAR settlement fundamentally changed how buyer's agents work with clients. One of the biggest changes: buyer broker agreements are now required before showing properties.

What's Changed in 2026

Two years in, the patterns have stabilized. A few things worth flagging:

Touring agreements are universal. Initial confusion about "do open houses count?" is largely resolved — most state associations now publish short-form touring agreements for first-tour use, then convert to a full buyer-broker agreement before any second showing.
Seller-paid concessions are still the norm. The feared shift to buyer-paid commissions hasn't materialized at scale. Roughly 80% of 2026 transactions still include a seller concession covering buyer-agent compensation, communicated off-MLS in showing replies and offer negotiations.
State-level reform is accelerating. Several states have proposed legislation that would supersede NAR's settlement terms with stricter disclosure rules. Track our forthcoming 2026 buyer-broker reform tracker for state-by-state updates.