Colorado guide

Colorado Buyer Brokerage Agreements After the NAR Settlement (Post-August 2024)

Starting August 17, 2024, if you want a Colorado real estate agent to show you any home, you have to sign a written buyer agreement first.

TL;DR

Starting August 17, 2024, if you want a Colorado real estate agent to show you any home, you have to sign a written buyer agreement first. The agreement has to spell out exactly what you'll pay the agent — a specific dollar amount or percentage, not vague wording. This rule comes from the settlement and applies nationwide; Colorado uses a state-approved form called the Buyer Listing Contract to satisfy it.

Before you start — 8 things to know

  • You'll sign a written buyer brokerage agreement before any Colorado agent tours homes with you, whether the tour is in person or virtual.

  • The agreement must list a specific dollar amount or specific percentage for the agent's fee — open-ended language like 'whatever the seller offers' is not allowed.

  • In Colorado, brokers typically use a state-approved form called the Buyer Listing Contract that already satisfies the written-agreement requirement.

  • If the seller's side doesn't offer enough to cover your agent's fee, you may owe the difference out of your own pocket — so read that section carefully before signing.

  • Real estate agent fees are negotiable in Colorado — you can discuss the amount and terms with the agent before you sign anything.

  • After the settlement, an agent who belongs to an is not allowed to tour homes with you without a signed written agreement on file.

  • The rule covers any agent who's a member of a Colorado such as REColorado or IRES — so it applies to most agents you'd realistically work with.

  • The compensation talk has to happen up front — before you start touring — not later in the process.

The timeline — step by step

  1. You reach out to a Colorado agent and tell them you want to start looking at homes.

  2. Before any tours, the agent walks you through the Buyer Listing Contract and explains how their fee works.

  3. You and the agent agree on a specific fee — a flat dollar amount or a set percentage — and write it into the buyer agreement.

  4. You both sign the written buyer brokerage agreement before any home tour takes place.

  5. With the signed agreement in place, the agent can now show you homes — in person or through virtual tours.

  6. When you find a home, your purchase offer spells out who covers your agent's fee — you, the seller, or some mix of the two.

  7. At closing, your agent's compensation is paid out based on what's in the buyer brokerage agreement and what the seller agreed to in the purchase contract.

Common questions

Do I really have to sign something just to look at a house with an agent in Colorado?
Yes. Since the settlement took effect on August 17, 2024, any agent who belongs to an has to get a written buyer brokerage agreement signed with you before any home tour. This applies to in-person showings and virtual tours alike. The rule covers Colorado and the rest of the country.
How much will my agent's fee actually be?
Whatever you and your agent agree to in writing. The fee has to be a specific number — a flat dollar amount or a set percentage of the purchase price — and vague phrases like 'whatever the seller offers' aren't allowed. In Colorado, you'll see this number written on the Buyer Listing Contract form.
What if the seller covers my agent's fee — do I still owe anything?
It depends on what your buyer agreement says. Most agreements credit any compensation the seller offers against the fee you owe your agent. If the seller's offer falls short of the amount in your buyer agreement, you may have to pay the difference yourself at closing.
Can I negotiate the fee, or am I stuck with whatever the agent quotes?
You can absolutely negotiate. Agent fees aren't set by Colorado law or the settlement — they're whatever you and the agent work out before signing. The Buyer Listing Contract has a blank space for the number you settle on, so feel free to discuss rates and terms.
What happens if I refuse to sign?
An agent who belongs to an isn't allowed to tour homes with you without a signed buyer brokerage agreement after the settlement. You're free to walk away and look for an agent whose terms work better for you, but the signing requirement itself isn't optional.
Does signing lock me into one agent for a long time?
Only if you agree to that. The Colorado Buyer Listing Contract lets you and the agent set the time period and which properties are covered — it can be a single house, a short search window, or a longer period. Read the duration and exclusivity sections carefully before you sign.

Glossary

2 terms
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

  1. [1]
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