Why Do I Need to Sign a Buyer-Broker Agreement Before Looking at a Home?

If you’re planning to buy a home in North Central West Virginia, you may be surprised to learn that you’ll need to sign a Buyer-Broker Agreement before touring homes with a REALTOR®. This is a new step for many buyers, but it’s now a requirement under the rules of our local Multiple Listing Service (MLS) and my brokerage. These changes came after the National Association of REALTORS® (NAR) settlement rules took effect on August 17, 2024.

Why Is This Required?

Before August 17, 2024, you might have toured homes with an agent without signing any paperwork. Today, however, the MLS and my brokerage require a written Buyer-Broker Agreement before I can represent you as a buyer and show you properties. This is not a federal law, but a local and brokerage policy designed to clarify representation and ensure transparency for everyone involved.

Listing Agent vs. Buyer’s Agent: Who Represents You?

• The listing agent represents the seller. Their primary duties and loyalty are to the seller.
• The listing agent may open a home for an unrepresented buyer, but their responsibility remains with the seller.
• If you want an agent to represent your interests as a buyer, you’ll need to sign a Buyer-Broker Agreement. This ensures you have someone advocating for your needs throughout the process.

Types of Buyer-Broker Agreements

• Single-Property Buyer-Broker Agreement: Covers just one specific property. Ideal if you only want to tour a particular home.
• Exclusive Buyer Representation Agreement: Covers your entire home search for a set period, area, or property type. This is the most common agreement for active buyers.
• Nonexclusive Buyer Agreement: Allows you to work with more than one brokerage, but can create confusion about representation and compensation.

What to Review Before Signing

Before you sign any agreement, make sure you review and understand the following:

• Length of the agreement
• Area covered
• Exclusivity—does it commit you to one agent or allow you to work with others?
• Compensation—how your agent will be paid. Commissions are negotiable.
• Cancellation terms—how you can end the agreement if needed
• Protection period—any time frame after cancellation when compensation may still be owed

It’s important to know that signing a Buyer-Broker Agreement does not require you to buy a home. It simply clarifies your relationship with your agent and ensures your interests are protected as you search for the right property.

Benefits of Having a Buyer’s Agent

• Expert guidance through every step of the home-buying process
• Advocacy—your interests come first in negotiations and contracts
• Access to the latest listings and market insights
• Skilled negotiation to help you get the best possible terms
• Support with paperwork, inspections, and closing details

Having a dedicated buyer’s agent means you’re never navigating the process alone. I’m here to answer your questions, explain your options, and make sure you feel confident every step of the way.

Contact Me

Derek Hart, REALTOR®
eXp Realty
304-940-6014

If you’re ready to start your home search or just want to learn more about the process, reach out anytime. I’m here to help!