Real Estate Law · September 9, 2026 · 8 min read
Tomorrow marks the unofficial start of the biggest shift in residential real estate practice since the MLS went online.
Technically, the NAR settlement takes effect September 17, 2026—but if you're house-hunting in Maryland, Pennsylvania, D.C., or Delaware this week, you've probably already been asked to sign something new: a buyer-agency agreement before your agent unlocks a single door.
Most brokerages, including Samson Properties, aren't waiting until the 17th. We're rolling out the new forms now because the liability is real, the training takes time, and frankly, nobody wants to scramble on a Tuesday morning when a buyer calls ready to see a house in Bel Air at 4 p.m.
So let's talk about what changed, what you'll be asked to sign, and what it all means if you're looking at homes for sale in Harford County, Baltimore County, or anywhere in our four-state footprint.
The National Association of REALTORS® agreed to settle a series of antitrust lawsuits in March 2024 for $418 million. The money is one thing. The practice changes are another.
Two big rules kick in September 17:
The idea, according to the plaintiffs and the settlement, is to force transparency about who pays whom and to break the old default where sellers paid both agents and buyers often didn't think twice about it.
I've written about this before—my September 7 post digs into the Maryland angle as the deadline loomed—but now we're in the implementation window, and the questions are pouring in.
The buyer-agency agreement (sometimes called a buyer-broker agreement or representation agreement) is a contract between you and your agent's brokerage. It spells out:
That last bullet is the sticking point.
In the old world (say, two weeks ago), buyers rarely asked how their agent got paid because the answer was almost always "the seller's agent splits the commission with me." Done.
Now, you agree upfront how your agent is compensated. Three common models:
The key: You know all this before you look at a single house. No surprises at closing.
I work across four states and eight Maryland counties (plus a chunk of Pennsylvania's York and Lancaster markets, New Castle County in Delaware, and D.C. proper). Each state has its own agency law, disclosure rules, and closing customs.
If you're touring homes in Anne Arundel County this weekend or scheduling showings in Montgomery County next week, your agent will hand you the agreement. It's not optional.
Good question. I host a lot of Sunday open houses in Harford and Baltimore Counties, and I've been asked this a dozen times already.
Casual conversation at an open house does not trigger the agreement. If you walk in, I say hello, you ask where the laundry hookup is, and you leave—no signature required.
But if you ask me to pull comps, write an offer, or show you three other houses, we're past casual. That's when I'll ask you to sit down (probably at the kitchen table, my favorite closing spot) and walk through the buyer-agency paperwork.
Most agents are erring on the side of signing early. It's cleaner.
Less, honestly.
Sellers still sign a listing agreement with their agent. That agreement still specifies the total commission (typically 5–6% in our Maryland markets, though it varies).
What's new: the listing agent cannot put "2.5% to buyer's agent" in the MLS remarks. That offer of compensation now happens through direct communication—our MLS has a separate portal, some brokerages use email or calls, and some list it on the property's public website outside the MLS.
The money didn't vanish. The advertisement of it did.
If you're thinking of selling your house in Cecil County or Baltimore City, your listing agent will walk you through how buyer-agent compensation works now and whether you want to offer it. (Hint: most sellers still do, because it keeps buyer's agents interested and buyers able to tour without upfront cost.)
This is going to be awkward for a while.
Twenty years in education taught me that any time you change a process everyone took for granted, you get friction. Students push back. Parents email. Administrators scramble. Then, six months later, it's just "how we do it."
Real estate is no different.
Buyer's agents are nervous about the money conversation. Buyers are annoyed they have to sign something before they even know if they like the agent. Sellers are confused about why their agent's MLS listing looks different.
And some agents are handling it beautifully, and some... aren't.
My advice: Find an agent who explains the agreement in plain English, doesn't rush you, and answers the compensation question directly. If they dodge or double-talk, walk. You're about to make the biggest financial decision of your year—maybe your decade. You deserve clarity.
If you're actively looking at homes for sale in Howard County, Prince George's County, York County PA, or anywhere in our region:
If you don't have an agent yet and you're thinking about looking in Harford County or any of the markets I serve, I'm happy to send you our buyer-agency agreement template and talk through it on the phone before we meet. No pressure, no surprises.
This is general information, not legal advice—for your specific situation, please consult a licensed real estate attorney.
If you want to read the settlement yourself, NAR's commission lawsuit settlement page has the full text and FAQs. The Maryland REALTORS® association also published guidance for Maryland agents and consumers.
For Pennsylvania practitioners, the Pennsylvania Association of REALTORS® has state-specific updates. D.C. and Delaware have similar resources through their local boards, though the national settlement governs the core rules.
If you're financing your purchase and worried about whether you can roll buyer-agent fees into your loan, talk to your lender. Freddie Mac and Fannie Mae are still issuing guidance on how these fees affect debt-to-income calculations and loan limits.
While we're all learning new paperwork, the borrowing environment hasn't budged.
Freddie Mac's latest survey (released September 3) shows the 30-year fixed rate at 6.71%, exactly where it was the week before. The 15-year sits at 6.04%.
Meanwhile, lock volume fell 9% in August, per HousingWire's report on Optimal Blue data. Buyers are waiting—for rates to drop, for inventory to grow, or for clarity on what this NAR settlement actually means in practice.
New listings hit a four-year high last month, so the selection is better than it's been since 2022. But foot traffic is lighter. Buyers have options and time.
If you've been on the fence, this week—paperwork and all—might be the moment to get serious. The homes are there. The agents are trained (or at least training). And the rates, while not amazing, are predictable.
Tomorrow the rule goes live for good. The forms are printed. The conversations are happening.
If you're buying a home in Maryland, you're going to sign something new. Now you know why, and what it says.
Katrina Kirton Sherrod, REALTOR® · Samson Properties · Licensed in MD, DC, PA & DE · 443-616-9770 · Katrina@kkstherealtor.com
“The house you looked at today and wanted to think about until tomorrow may be the same house someone looked at yesterday and will buy today.” — Koki Adasi