Arkansas guide

Buyer Broker Agreement in Arkansas: Post-NAR Settlement Requirements

In Arkansas, you have to sign a written buyer agreement with a real-estate agent before they can take you to tour any home, and that rule kicked in after the NAR settlement on August 17, 2024.

TL;DR

In Arkansas, you have to sign a written buyer agreement with a real-estate agent before they can take you to tour any home, and that rule kicked in after the settlement on August 17, 2024. The agreement spells out exactly how your agent gets paid — a specific dollar amount or formula, not a vague "whatever the seller offers." You can still ask the seller to cover some or all of that fee, but it's negotiated separately as part of the purchase contract.

Before you start — 8 things to know

  • Before an Arkansas agent shows you any homes in person, you'll sign a written buyer agreement — this has been required since the settlement took effect on August 17, 2024.

  • The agreement has to list your agent's pay as a clear number or formula, like "2.5% of the purchase price" or "$8,000 flat" — open-ended language such as "whatever the seller is offering" is not allowed.

  • The rule applies to every buyer working with an agent who belongs to an Arkansas — first-time buyers and seasoned investors alike.

  • You can ask the seller to pay some or all of your agent's fee, but that has to be worked out separately and written into the purchase contract — it can't be advertised as a blanket offer on the Arkansas .

  • The agreement also names which property or what kind of property your agent will help you with, so read that section carefully before signing.

  • In Arkansas you'll also see a separate agency disclosure form under Rule 10.3 — that explains who the agent represents and is required in addition to the buyer agreement, not instead of it.

  • Everything in the buyer agreement is negotiable — the fee amount, how long it lasts, whether it's exclusive, and which areas or property types it covers. Don't be afraid to ask for changes before you sign.

  • Treat the signing as a real conversation: ask the agent to explain in plain English what services you're getting for the fee. A good agent will welcome the question.

The timeline — step by step

  1. Pick an agent you want to interview and set up a first meeting — this can happen by phone, video, or in person, and no agreement is needed just to talk.

  2. At that meeting, the Arkansas agent gives you the agency disclosure form so you understand who they legally represent.

  3. Review the buyer agreement together — focus on the compensation amount or formula, how long the agreement lasts, the area or property type it covers, and whether it's exclusive.

  4. Negotiate any terms you're not comfortable with — fee, length, and scope are all on the table before you sign.

  5. Sign the buyer agreement before any in-person home tours happen — Arkansas -member agents cannot show you homes without it.

  6. Start touring homes; when you find one you want, your agent helps you draft an offer that can ask the seller to chip in toward your agent's compensation.

  7. At closing, your agent's fee is paid according to what the buyer agreement and purchase contract say — from the seller's contribution, from you directly, or a mix of both.

Common questions

Do I really have to sign a buyer agreement just to look at houses in Arkansas?
Yes, if you want an agent to physically tour homes with you. The settlement requires Arkansas -member agents to have a signed written buyer agreement in place before any in-person showing, starting August 17, 2024. You can still browse listings online or attend open houses on your own without one.
Can I negotiate the fee in the buyer agreement?
Absolutely — every term in the agreement is negotiable, including the compensation amount, the length, and the area it covers. Talk through what services you're getting and what feels fair, and ask for changes before you sign. Agents expect this conversation now.
Does the seller still pay my agent in Arkansas?
Maybe — it's no longer automatic. The seller is no longer allowed to advertise a blanket co-op fee on the Arkansas , but you can still ask the seller to pay some or all of your agent's fee as part of the purchase offer. If they agree, it's written into the contract; if not, you cover the difference yourself.
What's the difference between the agency disclosure and the buyer agreement?
The agency disclosure under Arkansas's Rule 10.3 tells you who the agent legally represents — you, the seller, or both. The buyer agreement is a separate contract that hires the agent to work for you and sets the compensation. Arkansas requires both documents because they do different jobs.
Can I cancel the buyer agreement if I don't like the agent?
It depends on the cancellation terms written into your specific agreement, which is why those terms are worth reading before you sign. Look for how long the agreement lasts, whether it's exclusive, and what notice you need to give to end it early. If the language is unclear, ask the agent to explain or to add a cancellation clause.
What does "a definite amount or formula" mean for the agent's fee?
Under the settlement rules, the buyer agreement has to state the fee as a specific number — like "$7,500" or "2.5% of the purchase price." Vague phrases like "whatever the seller offers" or "market rate" aren't allowed. This is so you know upfront exactly what you might owe.

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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