How I'm paid
How I'm paid, in writing, before we tour.
Since August 17, 2024, buyers sign a written agreement with their agent before touring a home, and that agreement spells out how the agent is paid. Here is how it works in Colorado, in plain words, so you know exactly where you stand before we see the first house.
What changed in 2024.
A national settlement involving the National Association of REALTORS changed how buyer agents put their pay in writing. Five things to know.
A written agreement before touring
Since August 17, 2024, agents who work with buyers through the MLS sign a written agreement with the buyer before touring a home, in person or on a live video tour. Chatting at an open house or asking how an agent works does not require one.
A specific amount or rate
The agreement states the agent's compensation as a flat fee, a percentage, an hourly rate or another amount you can calculate. It cannot be open-ended, like "whatever the seller offers."
Negotiable, and not set by law
The agreement has to say plainly that broker fees are fully negotiable and not set by law. You can talk about the number before you sign.
No more than you agreed to
Your agent cannot accept more than the agreed amount from any source, including the seller or a builder.
Sellers can still help
Offers of compensation between agents are no longer posted on the MLS. Sellers can still offer buyer concessions, like help with closing costs, and can agree to pay your agent's fee as part of a deal.
In Colorado
It is done on the state's own form.
Colorado brokers use contracts approved by the Colorado Real Estate Commission. At the top of the buyer agreement, in capital letters: compensation charged by brokerage firms is not set by law and is fully negotiable.
- In Colorado, the written agreement is usually the Colorado Real Estate Commission's Exclusive Right-to-Buy Listing Contract, form BC60. The current version has been mandatory since January 1, 2026.
- It can set up buyer agency, where your broker advocates for you, or transaction-brokerage, where the broker helps the deal along without advocating for either side. A separate state form explains those working relationships.
- Compensation can be a percentage of the price, a flat dollar amount, an hourly fee or a retainer.
- You choose who pays. Either the seller or the seller's brokerage may pay, and you cover any shortfall only if it is disclosed to you in writing before you sign a purchase contract; or you pay the fee yourself.
- Your broker cannot take bonuses or incentives from the seller unless you agree in writing.
Who can pay.
Writing the fee down does not mean you automatically pay it out of pocket. It means everyone knows the number.
Seller concessions
An offer can ask the seller to pay part of your closing costs or your agent's fee. It is negotiated like the price.
Builders
Many builders pay buyer agents, often only if the agent was registered on your first visit. The new construction guide explains how that works.
You, if it comes to that
If a seller will not cover the fee, any amount you would owe is spelled out in writing before you sign a purchase contract, so you decide with the full picture.
Questions about pay.
Ask anything. It is a fair question, and the answer should be simple.
Sources
This page explains general rules, not legal advice. The signed agreement controls.
Do I have to sign something just to talk to Chris?
Is the fee negotiable?
Will the seller pay it?
Can my agent get a bonus from the seller?
More guides.
Questions? Ask Chris before your first showing.
Text or book a call. You will see the agreement, and the number, before you tour anything.