If you are buying a home in Florida, one of the first things an agent will ask you to sign, often before the first showing, is a buyer agreement. Many buyers have never seen one, and the paperwork can feel like a commitment before you have even found a house. This guide explains what the agreement is, why it is now required in most situations, what the two main types of agent relationships in Florida mean, and which questions to ask before you sign.

Quick answer: since August 17, 2024, Realtors who are MLS participants and work with a buyer must have a written agreement with that buyer before touring a home. Florida law did not change. Florida licensees are presumed to be “transaction brokers” unless a single-agent relationship is set up in writing, and an agent’s compensation is negotiable, not set by law. Read the agreement for the type of relationship, the length of the term, how the agent is paid, and how you can end it.

Why buyers are being asked to sign agreements now

The change came from a National Association of Realtors (NAR) settlement. Florida Realtors explains it this way: effective August 2024, offers of compensation can no longer be placed in the MLS, and NAR members must sign a written agreement with a buyer they are “working with” and disclose how they will be paid. Florida Realtors also stresses that these are NAR rule changes for its members, not new Florida laws, and that the settlement does not change Florida brokerage relationship law.

Two details matter for you as a buyer:

  • “Working with” the buyer. The requirement applies when an agent provides services for you, such as identifying homes, arranging tours, negotiating, or presenting your offers. Florida Realtors says it does not apply to someone who just talks to you at an open house, or to an agent who works only for the seller.
  • Timing. The written agreement must be in place by the time you tour a home with that agent. It can be signed earlier.

The two relationships Florida allows

Florida Statutes section 475.278 allows a licensee to act as either a transaction broker or a single agent. It also says a licensee may not operate as a disclosed or non-disclosed dual agent, meaning one who represents both buyer and seller as a fiduciary.

Transaction broker (the default)

The statute says it is presumed that all licensees are transaction brokers unless a single-agent relationship, or no brokerage relationship, is established in writing. A transaction broker gives a limited form of representation. The duties listed in the statute include dealing honestly and fairly, accounting for all funds, using skill, care and diligence, disclosing known facts that materially affect the value of residential property and are not readily observable to the buyer, presenting all offers and counteroffers promptly, and limited confidentiality. Limited confidentiality, for example, keeps your agent from revealing that you would pay more than your written offer or why you are buying.

A transaction broker does not represent you in a fiduciary capacity. In plain terms, the agent helps both sides complete the transaction fairly, but is not your exclusive advocate.

Single agent

A single agent works for one party, in this case you. The statute lists additional duties for a single agent, including loyalty, obedience and full disclosure to the principal. A single-agent relationship has to be set up in writing, and the agent’s duties must be fully described to you in a disclosure, either as its own document or as part of the agreement for representation. That disclosure must be made before or at the time you sign an agreement for representation, or before the first showing, whichever comes first. The statute also allows a single agent to move to transaction-broker status, but only after getting your written consent.

No brokerage relationship

The statute also recognizes that no brokerage relationship can be established, and Florida Realtors publishes a buyer agreement form for that situation. If an agent offers it, ask what services you would and would not receive.

What is inside a typical buyer agreement

Florida Realtors publishes four versions of its Exclusive Buyer Brokerage Agreement: transaction broker, single agent, no brokerage relationship, and a version that includes consent to transition to transaction broker. Agents may also use their brokerage’s own form. Whatever form you are handed, look for these items:

  1. Type of relationship. Is the agent a transaction broker or a single agent? Is there a consent to switch later?
  2. Term. How long does the agreement last? A shorter term gives you more flexibility if the match is wrong.
  3. Compensation. How is the agent paid, and by whom? It might be a percentage, a flat fee or an hourly rate. Florida Realtors states compensation is fully negotiable and not set by law, and that the NAR rules do not dictate the amount.
  4. What if the seller pays? A seller may choose to offer to pay buyer-agent compensation, and Florida Realtors notes that is each seller’s business decision. Ask how the agreement treats that money: does it reduce what you owe, or not?
  5. Services. Showing homes, writing offers, negotiating, managing deadlines, coordinating inspection and closing.
  6. Ending the agreement. Can either side cancel, and what happens to compensation if you buy a home you first saw during the term?

Questions worth asking before you sign

  • “Will you act as a transaction broker or a single agent, and what is the difference for me in this contract?”
  • “How exactly are you paid, and what happens if the seller does not offer to cover it?”
  • “What is the term, and can I cancel early?”
  • “Which services are included, and which cost extra?”
  • “Can I take the agreement home and read it before the first tour?”

A professional will not mind these questions. If an agent resists explaining the agreement in plain language, that tells you something too.

How this fits the rest of the buying process

The agreement is the start, not the finish. Once you have an agent, the order of the early steps usually looks like this:

  1. Talk to a lender and get pre-approved so you know your range. Our finance team explains how lenders measure affordability in how debt-to-income ratio works for a Florida mortgage, and what to expect when you lock a rate in this mortgage rate lock guide.
  2. Sign the buyer agreement and tour homes.
  3. Make an offer. Before you do, understand your money at risk, as covered in our guide to earnest money in Florida, and plan for costs beyond the price using who pays which closing costs.
  4. Use the inspection period well. Our inspection team lists the gaps to plan for in what a Florida home inspection does not cover, and our own walkthrough of the “As Is” contract and your right to cancel shows how the clock works.
  5. Line up homeowners insurance early; this overview for first-time buyers in Florida covers what to ask before closing.
  6. Know what happens if the numbers do not hold up, such as a low appraisal.

If you are brand new to all of this, start with the step-by-step guide to buying a home in Central Florida.

Frequently asked questions

Do I have to sign a buyer agreement to look at homes in Florida?

You are not required to work with an agent at all, and Florida law does not require a customer to enter a brokerage relationship. But under the NAR rules, a Realtor who is an MLS participant and is working with you must have a written agreement before touring a home. Attending an open house or talking to a listing agent is treated differently.

Is the agent’s commission set by law?

No. Florida Realtors states that compensation is fully negotiable and not set by law, and that no one is required to offer or accept a specific amount.

What is the difference between a transaction broker and a single agent?

A transaction broker provides limited representation and is not a fiduciary. A single agent represents one party and owes additional duties such as loyalty and obedience. Florida presumes transaction brokerage unless something else is set up in writing.

Can an agent represent both the buyer and the seller?

Not as a dual agent. Florida Statutes 475.278 prohibits disclosed and non-disclosed dual agency. A licensee can, however, act as a transaction broker for both sides, with the limited duties described above.

Can I cancel a buyer agreement?

That depends on the terms you sign. Ask before signing whether either party can cancel early and what happens afterward. If you have questions about a specific agreement, a Florida real estate attorney can review it.

Does this change how I pay for my home purchase?

The agreement affects who pays the agent and how. It does not change the price of the house or your loan approval. Talk to your lender about how any buyer-paid costs fit your budget before you commit.

This article is general education, not legal advice. Statutes and forms change; confirm current rules with Florida Realtors, the Florida Department of Business and Professional Regulation, or an attorney.

About the author: Tariq AbouAdma, Real Estate Broker (BK3375638), Quality Real Estate Services LLC. Questions about working with a buyer’s agent? Call 407-476-6667 or visit 336 Wilshire Blvd, Suite 274-229, Casselberry, FL 32707.

Related reading: Florida home buyer rebates and what must be disclosed.