The NAR settlement that took effect in 2024–2025 changed how buyer’s agent compensation works. Here’s what Long Island agents need to understand — and how to explain it to buyers.
What Changed
Prior to the settlement, buyer’s agent compensation was typically offered by the seller through the MLS as part of the listing. Post-settlement, MLS systems no longer include buyer-side compensation offers. Buyers must now sign a buyer’s representation agreement before touring homes, with compensation terms explicitly negotiated.
What Stayed the Same
Sellers can still offer to pay the buyer’s agent as part of a deal — the settlement only removed the MLS field, not the ability to structure compensation that way. The key change is transparency: compensation must now be negotiated explicitly, not assumed through MLS convention.
What Long Island Agents Should Do
Get comfortable with buyer’s representation agreements and the conversations around them. Buyers need to understand what they’re signing and why it protects them. Agents who can explain the value they provide — clearly and confidently — will close more buyer agreements than those who avoid the conversation.
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