Transaction broker
Florida law presumes licensees operate as transaction brokers unless a single-agent or no-brokerage relationship is established in writing. A transaction broker provides limited representation to a buyer, a seller, or both.
BUYING IN FLORIDA · WRITTEN BUYER AGREEMENTS
Read the buyer agreement like a contract, because it is one.
Since August 17, 2024, real estate professionals who participate in an MLS have had to sign a written agreement with a buyer before touring a home with them. In Florida that agreement sits alongside state law on brokerage relationships. Knowing both lets you choose the service and the terms you actually want.
Short answer: If you tour homes with an agent who participates in an MLS, expect to sign a written buyer agreement first, including for live virtual tours. It must state the agent’s compensation as a specific amount or rate, not a range, and its terms, including length and compensation, are negotiable. You do not need one to visit an open house on your own.
Before touringA written agreement is signed before in-person or live virtual tours with the agent.
Clear compensationA specific amount, rate, or method, never open-ended or a range.
NegotiableServices, length, and compensation are yours to negotiate.
What changed in 2024
The practice changes that followed the National Association of REALTORS® settlement took effect on August 17, 2024. Two matter most to buyers: offers of compensation to buyer brokers can no longer be communicated through MLS listings, and an MLS participant working with a buyer needs a written agreement before touring a home.
A seller can still agree to pay some or all of a buyer’s agent compensation or offer concessions, and a buyer can request that in the purchase offer.
What the agreement must say about compensation
- A specific amount or rate.For example $0, a flat fee, a percentage, or an hourly rate, clearly defined.
- Nothing open-ended.Compensation cannot be a range or left to be determined later.
- A ceiling from every source.The agent cannot receive more compensation from any source than the amount or rate in the agreement.
- A plain statement about negotiability.The agreement states that broker fees and commissions are not set by law and are fully negotiable.
Florida’s brokerage relationships
Single agent
A single agent represents one party with fiduciary duties such as loyalty, confidentiality, and full disclosure. The disclosure must be made before or at the time of a representation agreement, or before showing property, whichever comes first.
No brokerage relationship
A licensee can assist without representing you. The duties are narrower, such as dealing honestly and fairly and accounting for funds.
Questions to settle before you sign
- How long does it last, and how can it end?Look for the term, the cancellation terms, and what happens to a home you toured after it ends.
- What does it cover?One property, a defined area, a property type, or any home you buy during the term.
- What happens if the seller offers less, more, or nothing?The agreement should say who pays any difference and whether you can ask the seller to cover it.
- Does it include new construction or homes sold by owner?Builders and owners handle compensation differently, so read that section.
- Which Florida brokerage relationship will you have?Transaction broker, single agent, or no brokerage relationship, disclosed in writing.
How Mo handles it
Before a first tour, Mo walks through the agreement line by line, writes the term and compensation in plain numbers, and shows how any seller-paid compensation or concession request would fit into your offer. If a term does not work for you, say so before you sign. That is what negotiable means.
COMMON QUESTIONS
Buyer agreement questions
Do I have to sign a buyer agreement to see a house in Florida?
If an MLS-participating agent tours the home with you in person or by live video, yes. Visiting an open house on your own or asking an agent about their services does not require one.
Can I negotiate the buyer agent’s compensation?
Yes. NAR’s consumer guidance says the services, the length of the agreement, and the compensation are all negotiable, and broker fees are not set by law.
Can the seller still pay my agent?
Yes. You can request, negotiate for, and receive compensation for your agent from the seller or the listing side, often as part of the purchase offer.
What is a transaction broker in Florida?
It is the relationship Florida law presumes unless another is established in writing. A transaction broker provides limited representation to the buyer, the seller, or both.
Does an agreement lock me in forever?
No agreement has to. The term, the cancellation terms, and what it covers are written into the agreement and are negotiable before you sign.
Starting a home search in The Villages?
Book a short call. Mo will explain how he works, what the agreement says, and what buying will cost before you tour anything.
Official sources and references
Checked September 14, 2026. Rates, forms, and program rules change, so confirm the current version before relying on a number.
- NAR: Consumer guide to written buyer agreements
- NAR: What the settlement means for home buyers and sellers
- Florida Realtors: NAR settlement FAQs
- Florida Statutes §475.278: Brokerage relationships
Important: General real estate information only—not legal, tax, insurance, title, engineering, or financial advice. Mo Mufti is a Florida REALTOR® (license SL3600299) with LPT Realty, LLC, not an attorney, CPA, insurance agent, or inspector. Use qualified Florida professionals for your situation.
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