Per NAR in August 2024:
NAR has long promoted written buyer agreements because they benefit consumers by clearly and transparently outlining the services a real estate professional will provide and how they are compensated. Currently, 27 states have enacted laws on written buyer agreements, with a significant number of these states passing legislation related to buyer agreements in just the past 18 months.
As states consider adding or updating legislation regarding written buyer agreements, this resource can help associations, members and policymakers understand what laws currently exist around the country and how such states are protecting consumers. This resource recognizes seven (7) major criteria common across the legislation analyzed, summarizes how the legislation regulates buyer agreements to promote sound real estate practices and consumer protection, and provides exemplary language for each criteria selected directly from state law.
For questions, please contact me or Drew Myers, State and Local Policy Representative, at dmyers@nar.realtor.
This information is only accurate as of 09/04/24. You must contact SCR for updates and changes to this information after 09/04/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)
This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.