Buyer agent compensation
How the buyer's agent gets paid. It can come from the buyer, from the seller as a concession, or from the listing brokerage. It's set in the buyer agreement and offer.
Also called: co-op commission, co-op fee, cooperating compensation, buyer agent fee
Related terms
The 2024 settlement of commission lawsuits against NAR. Since August 2024, offers of buyer agent pay can't go in the MLS and buyers must sign an agreement before touring.
A contract between a buyer and their agent. It says what the agent does and how they get paid. Since August 2024, MLS rules require one before touring a home.
Money the seller agrees to put toward the buyer's closing costs, prepaid items or rate buydown. Loan programs cap how much a seller can contribute.
What agents are paid when a deal closes, usually a percent of the sale price. It's always negotiable. It goes to the brokerage, which pays the agent their share.
The agent who represents the buyer. They find homes, set up showings, write offers and negotiate. Since 2024 most need a signed buyer agreement before touring homes.