U.S. Home Buying in 2025: You Now MUST Sign a Buyer’s Agent Agreement to See Homes

(Here’s What’s Inside – Oregon Edition)

Why This Form Exists Now

As of the 2024 NAR settlement, you can no longer just “go look at houses” without a signed Buyer Representation Agreement.
Exception (the workaround): Call the listing agent (seller’s agent) directly for that ONE specific house → no buyer-agent contract required.
Reality check: Trying to see multiple homes without your own agent is extremely difficult and not recommended.

Two Types of Agreements

Exclusive (most agents, including me, only work this way)
Non-exclusive (agents don’t want to waste time if you’re shopping multiple agents)

Key Sections of the Oregon Buyer Representation Agreement (4-page form)

Parties & Brokerage
Your name, agent’s name, phone, license number, and brokerage.
Geographic Area & Property Type/Price Range
Defines where and what price range the agent will help you (e.g., Portland metro, $400k–$600k single-family).
Representation Type
Clarifies your agent represents YOU only (unless both sides agree in writing to “disclosed limited agency” – allowed in Oregon).
Agreement Term (Expiration Date)
Must have an end date. Usually 6–12 months for my business.
(Finding a home can take 1–2 months + 30–45 days to close; some buyers take a full year in tough markets.)
Buyer Agent Compensation – The Big One!
You and your agent agree upfront on the fee:
- Flat dollar amount, OR
- Percentage
  → This is 100% negotiable before signing
  → If the seller offers less co-op fee than agreed, you cover the difference
  Example: You agree to 3%, seller only offers 2% → you pay the 1% gap. But you may decline the lower fee offer countered by seller.
Non-Refundable Retainer / Tour Fee (Optional)
Some (including me in certain cases) may charge an upfront non-refundable fee for out-of-town buyers wanting a full-day tour (10–12 homes) with no commitment to buy or checking out multiple states.
Past experience: Spent 10+ hours showing homes to a Nike exec who flew in, looked all day, bought nothing, and ghosted. Never again without protection.
Early Termination Fee
Usually $0 for my business. If the relationship isn’t working, better to part ways cleanly.
May be used for “tour guide only” situations, again I can only speak about how I run my business.
Agent’s Duties
Loyalty, full disclosure, protection of your interests, fast communication, strong negotiation, etc.
Buyer’s Duties
Don’t quit your job, tank your credit, or take actions that jeopardize financing while under contract.
Be honest and timely with all documents.
We Are NOT Experts In…
- Land surveys
- Structural engineering
- Geology / landslide risk
- Permits, zoning, environmental issues
  → We can flag concerns and recommend the right professionals, but we are NOT the experts. Always get proper inspections.
Dispute Resolution
Mandatory arbitration (you waive right to jury trial – standard in Oregon).
Additional Provisions
Blank section for custom terms.

My Advice to Buyers

Interview at least 2–3 agents.
Choose the one you trust most with experience, negotiation skills, market knowledge, and communication.
Once you pick someone, sign the exclusive agreement.
Working with multiple agents at once is a huge time-waster for realtors and usually backfires for buyers.

Do You HAVE to Sign This?

No – you can call listing agents one by one, but:

Many might still vet you (pre-approval/proof of funds)
You have no dedicated representation
You’re on your own with contracts, inspections, negotiations

My Goal as Your Agent

I always try to negotiate my fee into the offer so you pay $0 out of pocket.
If a seller refuses to pay fair compensation and won’t budge on price/repairs, you may walk — and you may find a better house with a more reasonable seller (it’s happened before!).

Questions about buying or selling in Portland / Oregon?
Call or text anytime: 503-515-4499

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