Buyer’s Agent Commission in Florida After the NAR Settlement
What changed in 2024, who pays the buyer’s agent now, and what it means for rebates.
What changed
As part of the National Association of REALTORS® settlement in 2024, new practice rules took effect on August 17, 2024:
- No compensation offers on the MLS. Listings can no longer advertise how much the seller will pay the buyer’s agent there.
- Written buyer agreements. Before touring a property with an agent, buyers sign a written agreement that spells out what the agent will be paid.
What didn’t change
- Commissions have always been negotiable, and they still are.
- Sellers can still choose to pay the buyer’s agent, or offer a concession the buyer can use toward it. It just isn’t posted on the MLS.
- Builders still commonly pay the buyer’s-agent commission on new construction.
If you’re selling
Offering buyer’s-agent compensation is optional and negotiable. It usually runs 2.00% to 3.00%, and most offers ask for it, so countering with none can cost you the deal. Your 1.69% listing fee with us doesn’t include it. We’ll walk you through it before you list and again when offers come in. More on the 1.69% listing.
If you’re buying
Your buyer agreement sets your agent’s compensation. With Silver Dog Rebates, when the commission we receive meets our minimum, part of it comes back to you at closing: about $5,100 on a $400,000 new build, or $1,250 on a $400,000 resale. A lower commission adjusts the rebate proportionately. How buyer rebates work.
Common questions
Do buyers have to pay their agent now?
Not necessarily. Sellers and builders can still pay the buyer’s agent, or offer a concession. Your written buyer agreement spells out what your agent is paid and by whom.
When did the new rules start?
The practice changes took effect on August 17, 2024.
Can I still get a rebate after the settlement?
Yes. When the commission we receive meets our minimum, part of it comes back to you at closing. A lower commission adjusts the rebate proportionately.
Questions? A real, licensed Florida agent answers, usually in under 90 minutes.