Florida guide

Buyer Broker Agreements Post-NAR Settlement: FL Requirements as of August 2024

Starting August 17, 2024, any agent who shows you a home listed on the MLS in Florida has to get a written buyer broker agreement signed before any tours.

TL;DR

Starting August 17, 2024, any agent who shows you a home listed on the in Florida has to get a written buyer broker agreement signed before any tours. That agreement spells out what your agent will do, what they'll be paid, and the possibility that you owe that fee if the seller doesn't cover it. Compensation is fully negotiable, has to be a real number (not a blank), and isn't set by any industry rule.

Before you start — 9 things to know

  • Before an agent in Florida can show you any home listed on the , you and the agent both have to sign a written buyer broker agreement. This rule kicked in August 17, 2024 as part of the settlement, and it applies even if you're just doing a quick first tour.

  • The compensation line in the agreement can't be left blank. It has to show a specific number — a flat fee, a percentage of the purchase price, or an hourly rate — that you and your agent actually negotiated.

  • In Florida, the form most agents use is called the Exclusive Buyer Broker Agreement (EBBA). It does double duty: it covers the new buyer-agreement requirement and the brokerage relationship disclosure that Florida law has long required, all in one document.

  • You might owe your buyer's agent the agreed fee out of your own pocket if the seller doesn't offer or agree to pay it. Sellers can still offer to cover it — they just no longer have to — so always check the offer terms when you're getting close to signing a contract.

  • The buyer broker agreement must state that broker compensation is NOT set by any rule. If your agent or their brokerage hints at a 'standard' or 'minimum' rate, that's a red flag — every fee is supposed to be individually negotiated.

  • Florida agents typically default to a 'transaction broker' relationship, which is more neutral. If you want fuller loyalty and confidentiality, you can ask for a 'single agent' relationship instead — but that adds extra disclosure language to your buyer broker agreement.

  • If your employer or a relocation company set you up with an agent in Florida, you still have to sign a written buyer broker agreement before touring. Some relocation companies have their own form — your agent's broker has to confirm it meets both the rule and Florida's brokerage disclosure law.

  • The agreement has to be signed BEFORE the agent shows you a home — not at the open house, not when you write an offer, and not at closing. If an agent in Florida tries to walk you through a property first and 'do the paperwork later,' they're breaking the rule.

  • The buyer broker agreement is negotiable in more ways than just price. You can negotiate how long it lasts, what geographic area or property types it covers, and what happens if you want to end the relationship early — read those sections carefully before you sign.

The timeline — step by step

  1. Step 1 — Interview one or more buyer's agents in Florida and pick the one you want to work with. You don't have to sign anything just to talk to an agent.

  2. Step 2 — Before your first home tour, your agent hands you the Exclusive Buyer Broker Agreement to review. Under the settlement rules, this has to happen BEFORE any showing of a home listed on the .

  3. Step 3 — You and the agent negotiate what they'll be paid and who pays it. The number has to be filled in (flat fee, percentage, or hourly), and the agreement notes that you may owe the difference if the seller doesn't cover the full amount.

  4. Step 4 — You sign the agreement. In Florida, that same document also sets your brokerage relationship (transaction broker by default, or single agent if you specifically asked) under Florida's brokerage relationship law, F.S. §475.278.

  5. Step 5 — With the buyer broker agreement signed, your agent can now show you homes on the in Florida. Tour as many properties as you want under the terms you agreed to.

  6. Step 6 — When you find a home and make an offer, you'll find out whether the seller is offering to pay any of your agent's fee. Whatever the seller doesn't cover, you pay according to your buyer broker agreement.

  7. Step 7 — At closing, your buyer's agent's compensation gets paid out exactly as your buyer broker agreement and the purchase contract describe. The numbers show up on your closing disclosure so you can see them clearly.

Common questions

Do I really have to sign something before I can even look at houses with an agent in Florida?
Yes, in most cases. Since August 17, 2024, the settlement made it a rule that any agent showing you a home listed on the MLS must have a signed written buyer broker agreement first. You can still go to open houses on your own, but the moment an agent starts touring you through homes, the agreement has to be in place.
Will I have to pay my buyer's agent out of my own pocket?
Maybe — it depends on the deal. Sellers can still offer to pay the buyer's agent's fee, and many do, but it's no longer assumed. Your buyer broker agreement spells out the dollar amount or percentage your agent is owed, and if the seller doesn't cover it, you do.
Is the buyer's agent fee actually negotiable, or is there a set rate?
It's negotiable. There is no standard or minimum rate set by any , real-estate board, or trade group — the rules actually require the agreement to say compensation is NOT set by any MLS rule. If an agent tells you 'this is just what everyone charges,' push back or talk to another agent.
What's the difference between a 'transaction broker' and a 'single agent' in Florida?
A transaction broker is more neutral — they help both sides move the deal forward without owing one side full loyalty. A single agent works just for you and owes you stronger duties like loyalty and confidentiality under Florida's brokerage relationship law. Most Florida agents default to transaction broker, so if you want a single agent, say so up front because it changes the disclosure language in your buyer broker agreement.
I'm moving for work and my company connected me with an agent. Do I still need to sign a buyer broker agreement?
Yes. The rule applies no matter how you ended up with the agent — relocation, corporate referral, or a friend's recommendation. Some relocation companies have their own buyer-rep form, but your agent's broker has to confirm it satisfies both the MLS requirement and Florida's brokerage relationship disclosure law before you tour homes.
What if I sign with an agent and we don't get along — am I stuck with them?
Not necessarily, but it depends on what the agreement says. Every Florida buyer broker agreement has a term length, a defined geographic or property scope, and usually some kind of cancellation or release clause. Read those sections before you sign, and ask the agent to explain exactly how you'd end the relationship if it isn't working.
Does this only apply to homes listed on the [[MLS]], or to every house I look at?
The written-agreement rule comes from 's MLS policy, so technically it kicks in whenever an MLS-participating agent shows you a home that's listed on the MLS. In practice, almost every home for sale through an agent in Florida goes through the MLS, so you should expect to sign a buyer broker agreement before any guided tours.

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

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