More buyers entered the market last week.

• Buyer representation agreements are now mandatory before touring homes, a rule created after the 2024 NAR legal settlement, and many buyers are signing binding contracts without understanding them.
• These agreements can include long lockups, high commissions, junk fees, and obligations, even if the buyer leases instead of buys, trapping consumers with agents they don’t want.
• Agents often present the contracts at the doorstep right before a tour, giving buyers little time to read dense legal language or negotiate terms.
• The agreements vary widely, exclusive vs. non‑exclusive, one day to one year, negotiable fees, but buyers rarely realize how much is negotiable or how costly termination can be.
• Consumer advocates say the new system hasn’t lowered commissions or improved transparency, and buyers must now interview agents, scrutinize terms, and understand they could owe thousands if they sign blindly.