A Buyer Brokerage Agreement is the written contract that spells out how a broker will represent you as a buyer — the services, the fee, the type of agency relationship, and how long it lasts. In Washington it's required by law (RCW 18.86), and since the 2024 NAR settlement you'll sign one — with the agent's compensation stated — before touring homes. Here's what's in it and what to check before you sign.
Why you have to sign one now
Two things make this agreement standard. First, Washington's RCW 18.86 requires a written services agreement before a broker represents you. Second, the 2024 NAR settlement requires buyers to sign an agreement specifying their agent's fee before touring homes. Far from a hurdle, it's a consumer protection — everything is in writing up front.
What's inside the agreement
- Services provided — for my flat-fee service: offer writing, contract review, counter-offer negotiation, and closing support.
- Compensation — the fee and how it's paid. Mine is a flat $2,999 rather than a percentage.
- Agency relationship — exclusive or non-exclusive (below).
- Term — how long the agreement lasts (default 60 days in WA).
Exclusive vs. non-exclusive
An exclusive agreement means you work with one broker for the term; a non-exclusive one lets you work with more than one. Exclusive is common and lets your agent fully commit to your search and strategy. Either way, you choose — just make sure you understand which you're signing.
The 60-day default term
Washington's default term is 60 days, but it's negotiable — shorter or longer by agreement. Check the term, any automatic renewal, and the termination language so you know how to end it if it isn't working. A fair agreement makes it easy to part ways.
What to check before you sign
- Is the fee clear, and does it match what you discussed? (A flat fee is easy to verify.)
- Is the term reasonable, with a clear way to cancel?
- Does it list the services you actually expect?
- Exclusive or non-exclusive — is that what you want?
If the fee is a percentage, remember it's negotiable — read who pays the buyer's agent in Washington and flat fee vs. a traditional agent.
How a flat fee makes the agreement simple
Because my compensation is one flat $2,999 — not a percentage of the price — the agreement is transparent and easy to understand: same full representation, a clear number, no surprises at closing. New to buying? Start with the first-time buyer guide.
General information, not legal advice. Agreement terms vary and laws change — review any contract carefully and ask questions before signing. Shi Hao Liu is a licensed WA real estate broker (License #26003789) with Kelly Right Real Estate.