If you’ve started working with a real estate agent recently, you may have noticed a change: agents are now asking buyers to sign a written agreement before touring homes, rather than operating on a more informal, verbal understanding. This shift followed industry-wide changes in 2024 that reshaped how buyer representation and agent compensation are handled across the country, including here in Centerville, Ohio. Here’s what that agreement actually covers and what’s worth asking about before you sign one.
Why Buyer’s Agents Now Ask for a Signed Agreement
For a long time, many buyers worked with an agent without ever signing anything until they were ready to write an offer. Industry-wide changes adopted in 2024 made written buyer representation agreements the standard practice before an agent shows homes, rather than an optional step. The intent is to make clear, in writing and up front, what services the agent will provide and how they’ll be compensated, so there’s no ambiguity later in the process.
What the Agreement Typically Covers
A buyer representation agreement generally spells out the scope of the agent’s services, the duration of the agreement, and the geographic area or type of property it applies to. It will also address compensation — how much the agent is being paid and by whom, since that can vary from one transaction to the next. Some agreements are exclusive, meaning you agree to work with that one agent during the term of the contract, while others may be more limited in scope. It’s worth reading through these terms rather than skimming past them, since they define your working relationship for the length of your home search.
How Agent Compensation Works
Compensation arrangements can differ by situation. In some cases, a seller offers to cover the buyer’s agent’s compensation as part of marketing a listing; in others, the buyer may be responsible for paying their agent directly, depending on what’s negotiated. Because this can vary by listing and by agreement, it’s a good idea to ask your agent directly, early on, how their compensation works for the specific homes you’re considering, rather than assuming it works the same way on every property.
Questions Worth Asking Before You Sign
Before signing a buyer representation agreement, it’s reasonable to ask how long the agreement lasts, whether it’s exclusive, what happens if you want to end the relationship early, and exactly how compensation is structured for your situation. You can also ask what services are included, such as scheduling showings, helping negotiate the offer, and coordinating with the title company. A good agent should be comfortable walking through these terms with you point by point rather than asking you to sign quickly without discussion.
What This Means Day to Day for Buyers
In practice, this change mostly affects paperwork and timing rather than the overall experience of searching for a home in Centerville or Washington Township. You’ll likely sign an agreement earlier in the process than buyers did in years past, and conversations about compensation now happen explicitly rather than behind the scenes. Once that’s settled, the rest of the process — touring homes, making an offer, working through inspection and closing — looks much the same as it always has.
Frequently Asked Questions
Do I have to sign a buyer representation agreement just to look at a house?
Policies can vary by brokerage and by individual listing, but it has become standard practice for agents to have a signed agreement in place before touring homes together. If you’re unsure why you’re being asked to sign at a particular point, ask your agent to explain it — a straightforward answer is a reasonable thing to expect.
Can I negotiate the terms of a buyer representation agreement?
Yes. Like most contracts, the terms are generally negotiable between you and your agent, including the duration and scope. If something in the agreement doesn’t sit right with you, it’s worth raising it before signing rather than after.
What if I want to switch agents partway through my search?
This depends on the specific terms of the agreement you signed, including whether it’s exclusive and what the cancellation terms are. Reading that section before you sign, and asking your agent directly about it, is the best way to understand your options if your situation changes.
Does this change affect sellers too?
Sellers have generally worked under written listing agreements with their agents for a long time, so this change is mostly about bringing buyer representation to a similar, formalized standard. If you’re buying and selling at the same time, your agent can walk you through how each side of the transaction works.
Kelly Nation is a real estate agent with RE/MAX Alliance serving Centerville, Ohio, Washington Township, and the greater Dayton area. Thinking about buying or selling in the area? Reach out to Kelly Nation with RE/MAX Alliance at 937-609-5852 to get started.
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