What you're signing before you tour: who represents you, how they're paid, exclusive vs. non-exclusive, what's negotiable, and where your rebate is written in so it's guaranteed.
A buyer-representation agreement is a written contract naming the agent who represents you and spelling out how they're paid. Since the 2024 NAR settlement, buyers sign one before touring. Key terms — length, geographic area, exclusivity, and compensation — are negotiable. With Portfolio Home Realty, the agreement also states your rebate (up to 1% of the price back at closing) in writing, which is what makes it enforceable.
A buyer-representation agreement is a short written contract that says a specific agent represents you as the buyer, and spells out how they're paid. Since the 2024 NAR settlement, you'll sign one before an agent shows you homes.
Think of it as putting the relationship on paper. It defines who works for you, for how long, in what area, and what compensation looks like — including, with us, your rebate. It's not a scary lock-in; the terms are negotiable, and a good agent will walk you through every line. See how it connects to the bigger picture in the NAR settlement explainer.
Before the settlement, buyer-agent compensation was posted on the MLS and buyer agreements were inconsistent. Now, buyers sign a written agreement up front so everyone knows the terms before touring. It actually protects you — no surprises about who your agent works for or how they're paid. And it's where your rebate gets documented, so it's guaranteed to be honored at closing.
| Term | What it means | Negotiable? |
|---|---|---|
| Agent & brokerage | Who represents you | Fixed |
| Term length | How long it lasts (e.g., 30–90 days) | Yes |
| Geographic area | Where it applies | Yes |
| Compensation | How the agent is paid | Yes |
| Exclusive vs. non-exclusive | Whether you can use other agents | Yes |
| Your rebate | The cash back you'll receive | Stated in writing |
An exclusive agreement means you work with one agent for the term — the most common setup, and it lets your agent invest fully in your search. A non-exclusive agreement lets you work with more than one. Exclusive usually serves buyers better because your agent is committed, but the choice is yours, and the term length keeps it fair.
This is the key point for you: your rebate belongs in this agreement, in writing. With Portfolio Home Realty, the agreement states that you'll receive up to 1% of the purchase price back at closing. That written commitment is what makes the rebate enforceable — never accept a verbal promise. Read how the rebate works and confirm it's on paper.
We'll walk you through the agreement, keep the terms fair, and put your rebate in writing before you tour.
Disclaimer: Portfolio Home Realty is a licensed California real estate brokerage (DRE #02232009) serving Los Angeles County and Orange County. The buyer rebate is a portion of the buyer-side commission returned to eligible buyers at closing and is generally up to 1% of the purchase price, subject to lender approval and the seller offering buyer-agent compensation. Dollar figures on this page are illustrative estimates, not guarantees. This page is general information, not legal, tax, or lending advice — consult your CPA, attorney, or lender about your situation. Equal Housing Opportunity.