Guides · Buying & selling
Who pays the real estate agent now?
Since August 2024, buyers sign an agreement with their agent and commissions are agreed in writing. Here is what that means for you.
What changed in 2024
After a national settlement involving the National Association of REALTORS®, two rules took effect in August 2024 for agents who belong to NAR-affiliated MLSs. Offers to pay the buyer's agent can no longer be posted on the MLS, and agents working with a buyer must have a written agreement with that buyer before touring a home.
Commissions were always negotiable, and they still are. Nothing sets a standard percentage.
If you are buying
Your buyer agreement says what your agent will be paid and how. The seller may still agree to cover some or all of it — your agent can ask for that in your offer — and whatever the seller doesn't cover is up to you.
Read the agreement before you sign it: how long it lasts, which homes or areas it covers, the amount, and how you can end it.
If you are selling
Your listing agreement sets your own agent's pay. You can also decide whether you are willing to contribute toward a buyer's agent, and you can respond to that request offer by offer.
Common questions
- Is there a standard commission?
- No. Fees are set by agreement between you and the agent and vary by market, home and services.
- Do I need to sign before an open house?
- Generally you can walk into a public open house on your own. The written agreement applies when an agent works with you to tour homes.
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General information only, not legal, tax or financial advice. Rules differ by state; check with a licensed professional.