The National Association of REALTORS® (NAR) settlement reshaped how buyers and their agents work together. Two big changes matter most:
- Buyers must sign a written buyer agreement before touring homes.
- Offers of compensation to buyer agents can’t be communicated through the MLS anymore (they can still be negotiated off-MLS). National Association of REALTORS®+2National Association of REALTORS®+2
Why this happened
The settlement resolved nationwide litigation and includes both a monetary component and practice changes intended to increase transparency and make compensation more openly negotiated. National Association of REALTORS®+1
What buyers should expect now
- Sign before you tour: You’ll review and sign a written buyer agreement before in-person or live-video tours. It outlines your agent’s services and how compensation works—so there are no surprises later. (Effective Aug 17, 2024.) National Association of REALTORS®+1
- Compensation is negotiated, not broadcast: MLS listings no longer show blanket offers of compensation. If a seller chooses to offer concessions or consider buyer-agent compensation, that discussion happens off-MLS via negotiation. National Association of REALTORS®+2National Association of REALTORS®+2
- Clarity on costs: Your agreement should spell out how your agent is paid and from what source; you’ll approve the amount or rate in writing. Columbus REALTORS
How this affects Los Angeles & luxury buyers
- More transparency, same goal: In competitive LA and Valley submarkets, serious buyers already worked closely with experienced agents. The new rules formalize what top teams do: set expectations early, negotiate strategically, and protect client interests. (Early coverage stressed transparency and competition; market impacts vary by area and price tier.) AP News+1
- Discretion still matters: For high-profile and entertainment clients, private/off-market opportunities continue—now with compensation handled directly between the parties rather than via MLS fields. National Association of REALTORS®
Practical tips before you start touring
- Discuss services & scope — Make sure your agreement lists what your agent will do (searching, showings, negotiations, offer writing, etc.). National Association of REALTORS®
- Agree on compensation — Understand the fee, the cap or rate, and scenarios for who pays (you, the seller via concessions, or a blend) so you can budget confidently. Columbus REALTORS
- Plan for off-MLS possibilities — Ask how your agent sources private listings and how those negotiations will handle compensation and confidentiality. National Association of REALTORS®
How we work under the new rules
- Written clarity upfront so you know services, timelines, and fees before we tour a single home. National Association of REALTORS®
- Negotiation without friction — We handle compensation discussions directly with the other side, seeking structures that keep your total cost competitive while strengthening your offer. National Association of REALTORS®
- Luxury-market strategy — Our hands-on approach and network are built for high-end and entertainment-adjacent clients who need privacy, preparation, and precision.
