Alaska guide

MLS Compensation Rules Post-NAR Settlement: What Alaska Licensees Must Know

Q: Why can't I see how much the seller is paying the buyer agent on Alaska MLS listings anymore?

Since August 17, 2024, the NAR settlement bans publishing buyer agent compensation on or through the MLS platform in Alaska, so any offer from the seller's side now has to be communicated outside the MLS.

Q: Do I have to sign a buyer agreement before touring homes in Alaska?

Yes, under the NAR settlement practice changes, an Alaska agent affiliated with NAR rules must have a written and signed buyer agreement with you, listing their fee, before showing you any homes.

In Alaska, since August 17, 2024, you can no longer see buyer agent pay listed on the MLS when shopping for a home.

Reading as buyer.

TL;DR

In Alaska, since August 17, 2024, you can no longer see buyer agent pay listed on the when shopping for a home. You and your agent now agree in writing on what you will pay them before touring homes, and that fee can be covered by you, by a seller concession, or by an off- offer from the listing side. Always ask your agent to walk you through every source of their pay so nothing is hidden.

Before you start — 8 things to know

Since August 17, 2024, Alaska systems following rules no longer show or require an offer of pay from the seller's side to the buyer's agent.
Before touring homes with an Alaska agent, you must sign a written buyer agreement that spells out exactly how much your agent will be paid and who pays it.
Your agent's fee in Alaska can come from three places: a seller concession written into the purchase agreement, an off- offer from the listing brokerage, or money you pay directly out of pocket.
An Alaska listing agent is still allowed to offer to pay your agent, but that offer must come through a flyer, a website, a phone call, or another channel outside the .
You can ask the seller to cover your agent's fee as a concession inside your purchase offer, and the seller can accept, counter, or refuse that request like any other term.
Alaska law under AS 08.88 requires your licensee to clearly explain every source of their compensation before you sign the buyer agreement, not after closing.
If a buyer agent in Alaska secretly collects more from the listing side than what your buyer agreement says, that is a violation of AS 08.88 and you may have grounds for a complaint to the Alaska Real Estate Commission.
Agent fees in Alaska are not set by any group rule and are always negotiable between you and the agent you choose to work with.

The timeline — step by step

First, interview Alaska buyer agents and ask each one how much they charge, since rules no longer publish that number for you.
Next, sign a written buyer agreement with your chosen Alaska agent that lists the exact fee and who is expected to pay it before you tour any homes.
While you shop, have your Alaska agent check off- sources, such as the listing brokerage's website or property flyers, to see if the seller's side is offering to cover any of your agent's pay.
When you write an offer on an Alaska home, decide with your agent whether to ask the seller for a concession that will cover all or part of the buyer agent fee.
During contract negotiation in Alaska, the seller will accept, counter, or reject your concession request, and the final amount becomes a written term of the purchase and sale agreement.
Before closing, review the settlement statement with your Alaska agent and confirm every dollar of agent pay matches what your buyer agreement disclosed.
If you find that your Alaska agent collected pay you were not told about, file a written complaint with the Alaska Real Estate Commission under AS 08.88 standards.

Common questions

Why can't I see how much the seller is paying the buyer agent on Alaska [[MLS]] listings anymore?

Since August 17, 2024, the settlement bans publishing buyer agent compensation on or through the platform in Alaska, so any offer from the seller's side now has to be communicated outside the .

Do I have to sign a buyer agreement before touring homes in Alaska?

Yes, under the settlement practice changes, an Alaska agent affiliated with rules must have a written and signed buyer agreement with you, listing their fee, before showing you any homes.

Can I ask the seller to pay my buyer agent in Alaska?

Yes, you can write a request for a seller concession into your Alaska purchase offer, and if the seller agrees, that concession can be used to pay all or part of your buyer agent's fee.

What happens if no one is willing to cover my buyer agent fee in Alaska?

If neither the seller nor the listing brokerage offers to cover your agent's fee, then under your written buyer agreement you are responsible for paying that fee directly to your Alaska agent at closing.

Are buyer agent fees fixed in Alaska?

No, buyer agent fees in Alaska are always individually negotiated, and any group attempt to set a standard rate would violate antitrust law regardless of the settlement.

What can I do if my Alaska agent hides extra compensation they received from the listing side?

If your Alaska agent collects pay above what your buyer agreement disclosed and does not tell you, that violates AS 08.88 professional standards and you can report them to the Alaska Real Estate Commission for disciplinary action.

Glossary

3 terms

RECAD — Real Estate Consumer's Agency and Disclosure: The form that lays out, in plain terms, the agency relationship between you and the agent — whether they represent you, the seller, or both.
NAR — National Association of Realtors: The national trade group for real-estate agents. The 2024 NAR settlement is the legal deal that changed how buyer's agents get paid.
MLS — Multiple Listing Service: The shared database agents use to list and find homes for sale. Most homes you'll see online started here.

Sources

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