North Carolina guide

Written Buyer Agency Agreements After the 2024 NAR Settlement

In North Carolina, you'll sign a written buyer agency agreement with your agent before they show you any homes.

TL;DR

In North Carolina, you'll sign a written buyer agency agreement with your agent before they show you any homes. The agreement must spell out exactly how your agent gets paid — a real number or formula, not 'whatever the seller offers.' If you only want to see one specific house, there's a shorter single-showing version you can use instead of locking into a longer relationship.

Before you start — 8 things to know

  • You'll sign a written agreement with a buyer's agent before they take you on any home tours in North Carolina. This became a hard rule across the country on August 17, 2024, after the settlement, and it lines up with how NC has long encouraged agents to work.

  • The standard form most NC agents use is called the Exclusive Buyer Agency Agreement (Form 201). It's a joint form from the NC Bar Association and NC Association of REALTORS, and your agent should hand you the current version.

  • The agreement has to state your agent's pay as a specific number — like a percentage of the purchase price, a flat fee, or an hourly rate. Vague phrasing like 'whatever the seller is offering' is no longer allowed.

  • The agreement also lists the maximum your agent can be paid from any source. They can't collect more than that cap, even if a seller offers a bigger commission through the .

  • If you don't want to commit to one agent yet, ask for the single-showing version of Form 201. It lets an agent walk you through one specific property on one specific date without signing you up for a longer exclusive relationship.

  • There's also a non-exclusive version if you want to keep your options open and possibly work with more than one agent. Under NC rule 21 NCAC 58A .0104(a), a non-exclusive arrangement can start with a verbal conversation, but it has to be put in writing before you sign an offer on a home.

  • You and your agent should talk about who pays the commission early. The seller may pay all of it, part of it, or none of it — and the agreement spells out that you cover whatever gap is left.

  • Pinning down the pay number at signing protects you from surprises at the closing table. Once it's in the agreement, the maximum can't move up later.

The timeline — step by step

  1. Have a no-pressure first conversation with an agent — by phone, email, or at an open house — to see if they're a fit. No paperwork is needed just to talk.

  2. Before that agent shows you any home, sign a written buyer agency agreement. In North Carolina this is usually NC Form 201, and the settlement makes the written-before-tours step mandatory across the country as of August 17, 2024.

  3. Pick the version of Form 201 that matches what you want: exclusive (one agent for a set time), non-exclusive (you can work with others), or single-showing (just this one house, this one day).

  4. Agree on the agent's pay in writing — a percentage, flat fee, or hourly rate — plus the maximum total they can collect from any source. Your agent cannot accept more than that cap.

  5. Tour homes with your agent under the agreement. If you started with a single-showing version and want to keep going with the same agent, you'll sign a broader exclusive or non-exclusive agreement next.

  6. When you find a home you want, write your offer. Under NC rule 21 NCAC 58A .0104(a), any non-exclusive verbal arrangement must now be in writing before you sign that offer.

  7. At closing, your agent's pay comes out of the deal exactly as the agreement spells out. The seller covers what they agreed to, and you cover any remaining gap up to the cap.

Common questions

Do I really have to sign something before I can see houses in NC?
Yes. Since August 17, 2024, the settlement requires a written buyer agency agreement before any agent connected to the can tour a property with you. North Carolina agents have been encouraged to do this for years, so most are already in the habit.
What if I just want to see one specific house and not lock myself in?
Ask the agent to use the single-showing version of NC Form 201. It only covers that one property on a specific date and a specific compensation amount, so you're not committing to broader representation.
How does my agent get paid under the new rules?
The agreement has to list a specific amount or formula — like 2.5% of the purchase price, a flat fee, or an hourly rate — and a hard maximum your agent can collect from any source. The seller may cover all, some, or none of it, and you fill in any gap up to the cap. Your agent can't accept more than that maximum, even if a higher number shows up in the listing.
Can I work with more than one agent at a time?
Yes, if you sign the non-exclusive version of Form 201. Under NC rule 21 NCAC 58A .0104(a), that arrangement can start verbally, but it must be in writing before you sign an offer on a home.
What if I'm not happy with the agent after I sign?
Read the agreement before you sign — it'll spell out the term length and how either side can end it early. If you're worried about getting stuck, ask your agent for a shorter term or use the single-showing version while you decide.
Does the agent's pay have to be the same at every house we look at?
Under your main agreement, yes — the formula and the maximum are set once and apply to whatever you end up buying. If you're using a single-showing agreement instead, the pay terms are set just for that one property.

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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