Resources / Perspective

What the NAR settlement changed for Phoenix homebuyers and what it did not

By Dwelaro, October 24, 2026

The short answer: Since August 17, 2024, most real estate professionals who participate in an MLS must have a written agreement with a buyer before touring a home with them. That agreement must explain what the professional will be paid.

What did not change is equally important. Arizona buyers are not required to hire an agent, and real estate fees remain negotiable.

For many buyers, the change moved the conversation about representation and compensation to the beginning of the home search. Here is what that means if you are buying in the Phoenix metro.

What changed

You generally sign before touring with an MLS participant

Under the NAR practice changes, an MLS participant working with a buyer must enter into a written agreement with that buyer before an in person or live virtual tour of a home.

The rule does not require one particular kind of agreement. Its duration, scope, services and compensation can vary.

In Arizona, Arizona REALTORS revised its Buyer Broker Exclusive Employment Agreement and introduced a shorter, nonexclusive Buyer Broker Agreement to Show Property. The shorter agreement allows a buyer and broker to work together without necessarily entering into an exclusive relationship covering the buyer's entire search.

Before signing, check:

The compensation must be stated clearly

The written agreement must specify the amount or rate of compensation the MLS participant will receive, or explain how it will be determined.

The compensation cannot be open ended. For example, the agreement cannot simply say that the broker will accept whatever the seller offers. It must also disclose that broker fees and commissions are not set by law and are fully negotiable.

An MLS participant cannot receive more compensation from all sources combined than the amount or rate agreed to with the buyer.

This does not mean every buyer will pay their broker entirely out of pocket. It means buyers should understand the potential obligation before touring homes rather than discovering it near the end of the transaction.

Offers of buyer broker compensation disappeared from the MLS

Before August 2024, an MLS listing could advertise compensation offered to a broker representing the buyer. Those offers can no longer appear on an MLS.

A seller or listing broker may still offer compensation to a buyer's broker, but the offer must be communicated outside the MLS. A buyer can also request buyer broker compensation as part of an offer.

If the amount contributed by the seller or listing broker is less than the amount promised in the buyer's agreement, the buyer may be responsible for the difference, depending on the agreement's exact terms and any later changes negotiated with the broker.

What did not change

You do not have to hire a buyer's agent

No Arizona law requires a buyer to retain a real estate agent. You may represent yourself, hire an attorney, use selected professional services or work with a buyer's agent.

The settlement changed the rules for certain real estate professionals working with buyers. It did not require buyers to use those professionals.

If you are unrepresented, remember that the listing agent generally represents the seller, not you. Courtesy, access to the property or help with paperwork does not necessarily create representation.

Other professionals still have distinct roles

A buyer's agent is not a substitute for the other professionals involved in a purchase. Depending on the transaction:

Those roles remain relevant whether or not the buyer hires an agent.

Buyers can still negotiate seller assistance

A buyer may ask a seller to pay certain closing costs, contribute toward buyer broker compensation or both.

These are not necessarily the same thing. Arizona's transaction forms distinguish ordinary seller concessions from compensation paid to a buyer's broker, and financing rules may limit how certain concessions can be used.

As with price, repairs and other offer terms, the seller can accept, reject or counter the request.

You can still attend an open house without hiring an agent

An unrepresented buyer generally does not need to sign a buyer broker agreement merely to attend an open house when the professional hosting it is acting only on behalf of the seller.

That professional may ask whether you are represented and may explain whom they represent. Read anything you are asked to sign and confirm whether it is merely a disclosure or an agreement for services.

What this means for buyers

The settlement did not prescribe one correct way to buy a home. It made one question harder to avoid: What services are you receiving, and what could you be required to pay for them?

If you want to work with a buyer's agent, the new rules create an opportunity to define that relationship clearly. Before signing, ask:

If you prefer to handle some or all of the purchase yourself, you still need to replace the information and coordination an effective agent would otherwise provide. In our view, that starts with three things.

Understand the property

Review the available property records, comparable sales, ownership history, permits, hazards and other material information. Public records are useful, but they can be incomplete or outdated and should be independently verified.

Build a defensible offer

An asking price is not proof of market value. Examine relevant comparable sales, the property's condition, current competition and the terms that matter to the seller.

Show that you are prepared

A complete offer accompanied by appropriate evidence, such as lender preapproval or proof of funds, can help a seller evaluate whether the buyer is capable of closing. Verification does not guarantee acceptance, but it can reduce uncertainty.

How Dwelaro helps: Dwelaro is being built to help Phoenix area buyers understand a property, evaluate an offer and present themselves as prepared buyers. Its current tools include a free property report, offer guidance informed by recorded sales and a free Buyer Passport for verified buyers.

If you have already signed an agreement

A buyer broker agreement is a contract between you and the brokerage. Its language determines what services are covered, how long the relationship lasts, what compensation may be owed and how the agreement can be terminated.

Read the complete agreement rather than relying on a verbal summary. Ask the brokerage to explain anything unclear, and consult an independent Arizona attorney if you need legal advice about your rights or obligations.

Dwelaro provides software and general educational information for homebuyers in the Phoenix metro. Dwelaro is not a real estate brokerage, law firm, lender, title company or home inspector. This article provides general information and is not legal, financial or real estate advice.

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