Deep Dive: Buyer's Agency - How We Got Here and New Requirements

Explore this curated selection of expert-approved resources to deepen your insights and elevate your real estate business.

By Empire Learning 9 min read
Deep Dive: Buyer's Agency - How We Got Here and New Requirements

All agents have to complete real estate continuing education, but the best don't stop there. Our industry is ever-changing, and the most successful agents are the ones who never stop learning.

That’s why we’ve put together this collection of deep-dive resources just for you. These resources go beyond what's covered in our Buyer's Agency: How We Got Here and New Requirements CE course, giving you deeper insights, fresh perspectives, and actionable strategies to apply in your day-to-day business. So dive into these expert-approved reads and keep pushing your business forward.


1️⃣ RE Commission Changes For Consumers

This article breaks down the recent NAR settlement and the new commission rules that rolled out in August 2024. It clears up confusion around what changed (like buyers and sellers negotiating agent fees upfront) and explores dueling predictions about the impact​.

Surprisingly, early data shows buyer-agent commissions have barely budged since the rule change, suggesting a more modest effect than many expected​. It’s a great primer on the legal shifts affecting buyer’s agents, helping you understand the facts (and fiction) so you can confidently navigate the new landscape.

What Real Estate Commission Changes Mean For Consumers | Bankrate
The way real estate commissions work has changed, thanks to a major lawsuit settlement. Here’s what buyers and sellers need to know.

2️⃣ Buyer Rep. Is Not a Thing of the Past

In this piece, NAR’s legal team offers reassurance that buyer agency remains as crucial as ever, even as the industry adapts post-settlement. They encourage agents to have transparent conversations with clients about how you get paid and the true value you provide.

The article notes that commissions are (and always have been) negotiable and urges using written buyer-agent agreements as an opportunity to outline your services and commitment to the client. It’s an encouraging read that frames the recent changes as a chance to innovate, improve transparency, and reinforce your role as a trusted advisor in every transaction​.

NAR Attorneys: Buyer Representation Is Not a Thing of the Past
As NAR plans to appeal a class-action verdict, real estate pros can continue to serve the best interests of their consumers and should maintain clear communication with them about compensation.From 2023 NAR NXT, The REALTOR® Experience, Anaheim, Calif., Nov. 14-16

3️⃣ 6 Strategies That’ll Help Agents Stand Out

This practical guide delivers research-backed tips to elevate your buyer representation game. It recognizes that as a buyer’s agent you wear many hats – negotiator, local market expert, even “a shoulder to cry on” – and shows how to demonstrate your value in each role​.

You’ll learn to lead with what matters to your clients (start with a deep conversation about their needs), share helpful resources like buyer checklists, and leverage technology to work smarter. For example, using tools like interactive floor plans and 3D tours can save everyone time; Zillow’s data found a majority of buyers wish they’d had floor plans sooner, and nearly 80% are more likely to view a listing with one​.

The article even touches on the new requirement for written buyer representation agreements post-NAR settlement, framing it as a way to set clear expectations with clients from the outset​. If you want actionable ideas to up your game and showcase your expertise in today’s market, this is a must-read.

6 Strategies That’ll Help Agents Stand Out to Home Buyers
How can real estate agents show their worth? Read our research-backed strategies to help buyers see the indispensable role agents play.

4️⃣ New Rules Open Door to More Negotiations

This news story provides a real-world look at how the recent commission rule changes are playing out for agents and clients. It explains in plain language that, under the new rules, buyers must sign a compensation agreement with their agent before any home tours, and sellers can choose whether to offer anything to a buyer’s agent at all​.

The piece follows a Colorado broker and his client through one of the first transactions under the new system – illuminating how they negotiated a fair rate for the listing agent, saved the seller some money, and navigated the buyer’s agent fee question. The takeaway? There’s now “a lot of room for negotiating” between parties​.

This insightful read will help you understand the on-the-ground best practices for discussing commissions in the current environment, so you can be prepared to address concerns and find win-win solutions for both buyers and sellers.

New realtor compensation rules open door to more negotiations and more concerns in Colorado housing market
A new set of rules are changing the ways people buy and sell homes across the nation, including in Colorado.

5️⃣ Dual Agency Piles Conflicts and Risks

When it comes to ethical considerations in buyer representation, dual agency is a hot topic. This educational article (geared toward California licensees but relevant to all) explains why representing both buyer and seller in the same deal can be a serious conflict of interest.

It outlines how dual agency inherently compromises an agent’s ability to fully advocate for either party’s best interests​. The piece emphasizes that any such conflict must be disclosed and agreed to by both clients upfront​.

Reading this will reinforce your understanding of fiduciary duties and the importance of loyalty and transparency. It’s a great reminder that sometimes the most ethical course is to avoid dual agency altogether or handle it with extreme care – insights that will help you maintain trust and professionalism with your buyers.

Dual agency piles conflicts and risks on brokers | firsttuesday Journal
Learn to identify conduct giving rise to dual agency representation and understand dual agency as a conflict of interest requiring prompt disclosure and consent.

6️⃣ Alternative Business Models in Real Estate

Curious about new ways real estate pros are doing business? This overview highlights several alternative business models challenging the traditional 5–6% commission structure. From discount brokerages to à la carte services and commission rebates, you’ll see how brokers are “unbundling” services and experimenting with different fee arrangements to meet consumer demand for savings​.

For instance, it explains how some agents offer cash-back rebates to buyers, literally saving their clients thousands of dollars on a purchase​. It also covers flat-fee and limited-service approaches.

This is a valuable read if you want to understand emerging models (and maybe incorporate ideas to stay competitive). It showcases that there’s no one-size-fits-all approach – you can adapt your business model to provide value in ways that today’s savvy clients will appreciate.

Other Compensation Approaches for Real Estate Pros
Real estate isn’t limited to the straight commission business model. Discount commissions and rebates to buyers are springing up around the country.

7️⃣ 7 Ways Buyer’s Agents Are Using PropTech

Technology is rapidly changing how we conduct buyer agency, and this energetic blog post shows you exactly how. It highlights cutting-edge proptech tools that buyer’s agents are embracing, many accelerated by the pandemic. You’ll read about the boom in virtual showings – Redfin saw a 494% jump in video-tour requests, and 74% of buyers now prefer virtual tours for at least part of their home search​.

From 3D walkthroughs and Zoom tours to even VR headsets, these tools let you show more homes in less time and cater to out-of-town buyers easily. The article also notes that a whopping 95% of agents now favor virtual showings themselves because of these efficiencies​.

Beyond showings, it touches on agents moving to virtual brokerages (88% work remotely now!​) and digital transaction platforms like remote online notarization. This forward-looking piece will spark ideas on leveraging tech – helping you stay ahead of the curve and deliver an even smoother experience for your buyer clients.

7 Ways Buyer’s Agents are Using PropTech to Sell More Homes
In the wake of the COVID-19 pandemic, PropTech has taken the real estate market by storm, but how exactly are agents using this technology to sell homes?

8️⃣ 6 Ways Agent Relationships Have Improved

Believe it or not, the recent industry upheavals have had a silver lining: they’re strengthening agent-client relationships. In this uplifting article, seasoned brokers share how mandatory written buyer agency agreements and commission transparency are boosting trust. One broker admits the NAR settlement “forced us to get better at articulating our value” to buyers – and in return, clients are now more educated about the process and appreciative of what agents do​.

The piece gives examples of agents stepping up their game: holding thorough buyer consultations (just like a listing presentation) to set expectations, reviewing the agreement together, and even using it as a moment to explain their fiduciary duties. Agents find that clients who sign buyer agreements are more committed and serious, which ultimately leads to smoother transactions​​.

Reading this will encourage you to embrace the new norms (like upfront agreements) as a chance to professionalize your service, communicate your worth, and build stronger, trust-based relationships with your buyers.

6 Ways the Relationship Between Real Estate Agents and Consumers Has Improved
NAR members say the practice changes resulting from the NAR settlement have helped establish clarity around the services agents and brokers provide.

9️⃣ Changing Real Estate Agent Fees

For a deeper, analytical dive into the future of buyer agency and commissions, check out this think-tank blog post by housing policy experts. It discusses the impact of the class-action lawsuits and NAR rule changes, then offers three big predictions.

Notably, the authors expect the traditional seller-paid commission model to largely persist (because it’s familiar and avoids new financing hurdles)​ – meaning buyers likely won’t be cutting huge commission checks directly in most cases. However, they also predict overall fees will gradually drop, especially for higher-end and repeat buyers, due to increased competition​.

The analysis warns that first-time buyers might still struggle with affordability even if commissions shift, because if buyers had to pay their agent out-of-pocket it could price some out of the market. This balanced perspective gives you a glimpse of where buyer agency could be headed and why – super useful for strategic planning. It’s a free, no-nonsense look at market trends that will make you a more informed advocate for your clients’ interests in the long run.

Changing Real Estate Agent Fees Will Help All Buyers and Sellers but Will Help Some More Than Others
As the National Association of Realtors settles recent class-action lawsuits, real estate agent commissions will have to change, but we predict a seller-paid model will remain the preferred option.

🔟 How Home Buyers and Sellers Can Cope

To round things out, here’s guidance from the Consumer Federation of America, offering a consumer-centric view of the NAR settlement changes. It concisely explains the two big rule changes – sellers are no longer required to pay buyer agents, and buyers must sign a contract detailing the agent’s fee before their first showing​.

Understanding what consumers are being told is invaluable for buyer’s agents. The alert actually encourages buyers and sellers to adapt by choosing honest, experienced agents and discussing those new contracts openly. It stresses that selecting a “competent, honest agent is more important than ever” now that the process is a bit different​.

This source serves as a reminder to position yourself as that trustworthy, knowledgeable agent. By reading it, you’ll gain insight into common consumer concerns in this new landscape – and be better prepared to address questions, explain the paperwork, and reassure your clients that you’ve got their back every step of the way.

CONSUMER ALERT: HOW HOME BUYERS AND SELLERS CAN COPE WITH NEW REAL ESTATE BROKER RULES AND PRACTICES · Consumer Federation of America
On August 17, all Realtors must conform to new rules agreed on by the National Association of Realtors (NAR) in their settlement of class action litigation.