Florida guide

MLS Compensation Advertising Rules Post-NAR Settlement in Florida

Since August 17, 2024, Florida MLS platforms no longer let listing agents post offers of pay to your buyer's agent.

Reading as buyer.

TL;DR

Since August 17, 2024, Florida platforms no longer let listing agents post offers of pay to your buyer's agent. That means you, the buyer, sign a written buyer broker agreement up front that says what your agent earns and who pays it. The seller can still agree to cover your agent's fee through the purchase contract or as a concession, but if they do not, you pay your agent directly.

Before you start — 7 things to know

  • Florida systems like Stellar , My Florida Regional , and Beaches stopped displaying offers of buyer's broker compensation on August 17, 2024 because of the settlement.

  • Before touring homes with an agent in Florida, you sign a written buyer broker agreement that spells out the agent's fee, how it is calculated, and how long the agreement lasts.

  • A seller can still agree in the Florida purchase contract or a separate addendum to pay all or part of your buyer's agent fee, even though that offer cannot live on the anymore.

  • Seller concessions toward your closing costs are different from buyer's broker compensation, and your buyer's agent fee should be written separately so the lender and appraiser treat it correctly.

  • If the seller refuses to cover your buyer's agent fee, you are personally responsible for paying the amount in your buyer broker agreement at closing or out of pocket.

  • Your buyer's agent cannot legally show you homes based on how much compensation a seller is rumored to be offering, so ask them to share every property that fits your criteria.

  • Florida real estate license law in F.S. §475.25 lets the state discipline agents who hide fees, misrepresent compensation, or breach their duties to a buyer client.

The timeline — step by step

  1. Before any home tours, meet with a Florida buyer's agent and sign a written buyer broker agreement that states the agent's fee in a dollar amount or a clear percentage.

  2. When you find a home you want to make an offer on, ask the listing agent in writing whether the seller will pay any of your buyer's agent fee, since that offer is no longer posted on the .

  3. Include a buyer's broker compensation request in your Florida purchase offer or attach the Florida REALTORS buyer's broker compensation addendum so any seller-paid fee is documented in the contract.

  4. During negotiation, the seller can agree to pay all of your agent's fee, part of it, or none of it, and you decide whether to cover any gap from your own funds.

  5. Before you sign the final contract, share the buyer broker agreement and any seller-paid amount with your lender so the loan and appraisal account for the buyer's broker compensation correctly.

  6. At the Florida closing, the buyer's broker compensation appears on the closing disclosure as either seller-paid or buyer-paid, matching exactly what your contract and addendum say.

Common questions

Do I have to pay my buyer's agent in Florida now that the [[MLS]] no longer shows offers of compensation?
You sign a written buyer broker agreement that names a fee, and you are responsible for that fee unless the seller agrees in the purchase contract to pay all or part of it.
Can a Florida seller still offer to pay my buyer's agent after the [[NAR]] settlement?
Yes, a Florida seller can offer to pay your buyer's agent through the purchase contract, a buyer's broker compensation addendum, or a concession, even though that offer cannot appear on the .
What is the difference between a seller concession and seller-paid buyer's broker compensation in Florida?
A seller concession is a general credit toward your closing costs, while seller-paid buyer's broker compensation is identified specifically as your agent's fee, which lenders and appraisers may treat differently.
Is it okay to ask my Florida buyer's agent to skip homes where the seller is not offering buyer's broker compensation?
Your agent owes you a duty to show every property that fits your criteria, so you should not steer your search by compensation; instead, negotiate the buyer's agent fee in each offer.
Can my Florida buyer's agent change the fee after I sign the buyer broker agreement?
Any change to the fee has to be in writing and signed by both you and the agent, and your original agreement controls until you sign an amendment.

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]
  2. [2]

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