Oregon guide

Oregon Buyer Representation Agreement Requirements Post-NAR Settlement (Aug 17, 2024)

Starting August 17, 2024, you must sign a written buyer representation agreement with your agent before you tour any home in Oregon, including virtual tours.

TL;DR

Starting August 17, 2024, you must sign a written buyer representation agreement with your agent before you tour any home in Oregon, including virtual tours. The agreement has to spell out exactly how your agent will be paid — a dollar amount, percentage, or formula — not just 'whatever the seller offers.' That fee is negotiable, and you can still ask the seller or listing broker to cover it, but the terms have to be in writing up front.

Before you start — 8 things to know

  • You must sign a written buyer representation agreement with your agent before touring any home in Oregon, including virtual showings.

  • The agreement has to state a specific compensation for your agent — a dollar amount, a percentage of the sale price, or a formula. Vague language like 'whatever the seller offers' isn't allowed.

  • Your agent's compensation is fully negotiable. Read the number before you sign, and push back if it feels too high.

  • The agreement also defines the services your agent will provide, how long it lasts, and the geographic area it covers — read those terms before signing.

  • Your agent can still seek to have the seller or listing broker pay the fee, but the amount in your buyer agreement controls what they collect.

  • If a listing broker offers more than what's in your buyer agreement, your agent cannot just keep the extra money — it has to be handled in writing in your contract.

  • These rules apply across Oregon because the Regional (RMLS) and the state's other Multiple Listing Services adopted the post-settlement policy changes.

  • Open houses are treated differently — you can usually walk in to look around without first signing a buyer representation agreement.

The timeline — step by step

  1. Interview a few Oregon agents and pick one you trust to represent you.

  2. Read the buyer representation agreement closely — fees, services, term length, and geographic area.

  3. Negotiate the compensation amount in writing — a dollar figure, a percentage, or a formula — before signing.

  4. Sign the buyer representation agreement before any home tour, whether in person or virtual. Without a signed agreement, your agent cannot show you a property.

  5. Tour homes with your Oregon agent under the signed buyer representation agreement.

  6. When you write an offer, decide whether to ask the seller to cover your agent's fee, pay it yourself, or split it.

  7. At closing, your agent's compensation is paid according to the signed buyer representation agreement.

Common questions

Do I really have to sign a contract before I see a single house?
Yes. As of August 17, 2024, if your Oregon agent belongs to or uses an like RMLS, they must have a signed written buyer representation agreement with you before showing you any home. That covers both in-person tours and virtual showings.
How much will my buyer's agent commission be?
Whatever you and the agent negotiate. The buyer representation agreement must state the fee as a clear number — a dollar amount, a percentage of the home price, or a formula. Vague language like 'whatever the seller offers' is not allowed.
Can the seller still pay my agent's fee?
Yes. Your buyer representation agreement can let your agent seek compensation from the listing broker, the seller, or other sources. You and your agent decide how to ask for that in your offer.
What if the seller offers less than what my agreement says?
You and your agent have to decide how to cover the gap before you commit to the deal. Options include paying the difference yourself, negotiating with the seller to cover it, or reworking the buyer representation agreement.
Can I still go to open houses without signing anything?
Usually yes. Open houses are treated differently from private tours, so you can typically walk in without a signed buyer representation agreement. Private showings still require one.
Why did this rule start in Oregon?
It came out of the Sitzer/Burnett settlement and took effect nationwide on August 17, 2024. It applies in Oregon because the state's systems — including RMLS — adopted the required policy changes.

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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