Buyer representation agreement
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.
Also called: buyer agreement, buyer broker agreement, exclusive buyer agreement, BRA
Related terms
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.
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.
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 form that tells a buyer or seller who the agent works for. Most states require it at or before the first real conversation about a property.