How Buyer Broker Agreements Work in Oregon After the 2024/2025 Changes

If you've started shopping for a home in Oregon recently, your agent probably asked you to sign a buyer representation agreement before showing you any houses. That's not new paperwork — it's now the law. Here's what it means, what you're agreeing to, and what protections you have.

 

What Triggered the Change — and Why Oregon Was Already Ahead

Two things happened in relatively quick succession. First, the National Association of REALTORS® reached a landmark settlement in March 2024 that changed how buyer agent compensation is handled nationwide. As part of that settlement, agents who use an MLS are required to have a signed buyer representation agreement in place before touring a home with any buyer. That requirement went into effect on August 17, 2024.

The second thing: Oregon was already moving in this direction independently. The Oregon Legislature passed House Bill 4058 (Chapter 3, 2024 Laws), which separately required written buyer representation agreements for all residential transactions — effective January 1, 2025. So even without the NAR settlement, Oregon buyers would have been signing these agreements regardless. Oregon was one of several states that had already recognized written buyer agreements as necessary consumer protection long before the national conversation caught up.

The practical result is that a form that was once considered "best practice" is now legally required in Oregon for residential purchases of one to four units. Your agent must enter into a written agreement with you before, or as soon as possible after, they begin assisting you — which in practice means before you tour your first home.

What the Agreement Actually Contains

Oregon's buyer representation agreement is governed by rules set by the Oregon Real Estate Agency (OREA) under OAR Chapter 863. Under Oregon law (implemented through HB 4058 and subsequent OREA rulemaking), any valid buyer representation agreement must include:

• Your agent's license number and the contact information for their supervising principal broker
• The term of the agreement, including a clear start and end date — agreements cannot exceed 24 months, including any automatic renewals
• A description of your agent's legal obligations under ORS 696.810, or a reference to the Initial Agency Disclosure Pamphlet
• Your search criteria — a general description of what you're looking for (price range, location, property type)
• How compensation will be paid — specifically how your agent will be compensated and by whom
• Termination rights for both you and your agent
• Whether the agreement is exclusive or non-exclusive

That exclusivity piece matters. Most buyer representation agreements are exclusive — meaning you agree to work with that agent and only that agent for home purchases within a defined geographic area during the agreement period. If you want to keep your options open, you can negotiate a non-exclusive agreement, though not every agent will offer one. Most agents who work exclusively with buyers prefer exclusive agreements because they're committing real time and expertise to your search.

The Big Shift: How Agent Compensation Works Now

Before August 2024, the standard practice in most markets — including Oregon — was for the listing agent (the seller's agent) to offer a pre-set buyer agent commission through the MLS. It was baked into the listing. Buyers often didn't think much about it because the fee came from the seller's proceeds and was never a line item they negotiated directly.

That's no longer how it works. Under the NAR settlement rules, compensation offers from sellers to buyer agents can no longer be published through the MLS. Your buyer representation agreement now sets what you've agreed to pay your agent before you tour homes — a flat fee, a percentage, or an hourly rate. It has to be a specific, objective number, not "whatever the seller is offering." That clarity is actually a good thing for buyers: you know exactly what your agent expects to be paid before you've set foot in a single property.

Sellers can still contribute to your agent's fee — just not through the MLS. Sellers can negotiate buyer agent compensation directly (outside the MLS), and they can offer seller concessions that buyers can then apply toward closing costs, including agent fees. Oregon's updated sale agreement forms (Section 4 of the OREF Sale Agreement and Form 2.24) now include a mechanism to document exactly this kind of arrangement. Agent compensation has always been negotiable by law — these changes just make that negotiation more visible and upfront from the start.

The practical impact in most Oregon transactions so far? Sellers who want to attract buyers are often still factoring buyer agent compensation into their net — just negotiated directly or through concessions rather than published on the MLS. The conversation is different; the underlying economics often aren't drastically changed.

What This Means for Oregon Buyers Right Now

Understanding these changes is less complicated than the headlines make it sound. A few things worth knowing as you get started:

You have the right to understand exactly what you're signing. Oregon law requires that the agreement spell out your agent's compensation clearly. Before you sign anything, read it. If something isn't clear, ask. A good agent will walk through it with you line by line.

You're not locked in forever. Oregon's buyer representation agreements must include termination rights for both parties. If the relationship isn't working, there's a path out. The law also caps agreement terms at 24 months, including renewals — though most agreements run 60 to 90 days for an active home search.

Buyer concessions are a real tool. If you find a home and the seller isn't offering a compensation contribution, you can negotiate one as part of your offer. Ask for seller concessions that can be applied toward your agent's fee, closing costs, or a rate buy-down. Your agent should know how to structure that conversation.

Open houses are excluded. Per NAR settlement rules, you do not need a signed buyer representation agreement to attend an open house or to have a general conversation with an agent about their services. The requirement kicks in before you tour a property on a scheduled showing.

What This Looks Like in the South Clackamas County and North Willamette Valley Market

In the Canby, Oregon City, and Wilsonville area, buyers signing representation agreements today are working in a market that's showing real momentum. Redfin data from March 2026 shows Canby at a median sale price of $546,000 — up 7.3% year-over-year — with homes selling in an average of 22 days. Oregon City and Wilsonville are seeing similar activity, with well-priced properties moving quickly and multiple offers still coming in on homes that are priced accurately from the start.

The buyer representation agreement gives your agent the legal standing to negotiate on your behalf from day one. In a fast-moving market, having a formal, documented relationship means there are no ambiguities about representation, compensation, or fiduciary duty when a great home comes on the market and you need to move quickly. That kind of clarity protects you.

The changes from 2024 and 2025 ultimately put more of the compensation conversation in the open — and that's a good thing for buyers who want to know exactly what they're paying for and who is working for them.

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Jennifer Schurter serves buyers, sellers, and investors throughout South Clackamas County and the North Willamette Valley — including Canby, Oregon City, Wilsonville, Aurora, Hubbard, Molalla, Woodburn, Newberg, Sherwood, Tualatin, West Linn, Lake Oswego, and the greater Portland metro south. Her goal is simple: to be the most knowledgeable, most responsive, and most genuinely helpful real estate agent in the area — every single time. Jennifer is a licensed Oregon real estate broker with Real Broker LLC.

Ready to talk through your next move? Schedule a time with Jennifer here. No pressure, no pitch — just a real conversation.