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 By Jackie Beardsley


Written Buyer Agreement

Signing a Buyer Agreement

When you sign a Written Buyer Agreement you will be entering into a contract to be represented by a real estate agent who is working on your behalf as your designated agent.


IN ILLINOIS as of 1-1-2025, having a Buyer Rep Agreement is required.  The rules for this contract are still being written.

In some areas or in many instances these agreements were always a practice for Agents, however, they were not required by law.  The agreement assures how the agent will be compensated and for how much.  
The agreements will also lay out the services that a homebuyer will receive from their real estate professional.

Before touring a home you will be asked to sign this agreement.  If you are just viewing an open house on your own you don't have to sign an agreement.

There are circumstances which will determine if a buyer pays out of pocket.

Buyers will still have the option to negotiate this fee and ask the seller to pay it from the proceeds of the sale as was often done in the past.

Many buyers don't have additional funds to pay out of pocket to their brokerage company after they come up with a down payment, have a home inspection as well as pay for other related costs that are already a part of the 'buyside' in a transaction.

The buyer can't add this cost to their mortgage but they may include it in the price they agree to pay for the home. There is a difference between adding it vs including it.

An example of adding this to a Mortgage would be-
  • Purchase price of home is $100,000
  • Down Payment of $10,000
  • Mortgage - $90,000
  • The Buyers wants to Mortgage $93,000 to pay brokerage $3,000.
 Currently, there are people at NAR working on this with Fannie Mae and Freddie Mac.  Perhaps one day the Buyers will be able to add their brokerage fee to their Mortgage if they choose to or have to as one of their options.

Many sellers are cooperating with the buyers and paying the buyer brokerage fee through the proceeds of the sale of their home as was usually done in the past.  Since the sellers don't even have a transaction without the buyer, I feel this is the best and easiest way for all parties in the transaction.  Everything is negotiable and that works very well.

For more information please contact me.





Jacqueline Beardsley
Charles Rutenberg Realty
Naperville IL





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