Why the written agreement exists, what you sign before showings, how the fee gets paid on a real Bend deal, and why it matters most at a model home.
Since August 2024 every buyer who tours a home with an agent signs a written agreement first. That rule changed how buyer's agents are paid, and it left a lot of buyers unsure what they are signing and why. This is the plain version for Bend and Central Oregon.
Why the agreement exists
The settlement of the national commission lawsuits required two things of every brokerage on a Realtor-affiliated MLS, which in Central Oregon is every brokerage you will deal with. Offers of buyer-agent compensation came out of the MLS, and buyers working with an agent now sign a written agreement before the first showing that states what the agent will do and what the agent will be paid. The point is that you see the number before you owe it, instead of learning at closing that a fee was baked into the deal.
What you sign before showings
The agreement names the agent and the brokerage, says how long it runs, describes what we do for you, and states the fee. Oregon wrote the same requirement into state law in 2024 with House Bill 4058, which requires a written buyer representation agreement before, or as soon as possible after, an agent starts assisting a buyer. The standard Oregon form is OREF 050, the Buyers Representation Agreement. We go through it with you before the first showing and we do not tour until it is signed, because the MLS rule does not allow it. The term is negotiable. Some buyers sign for a single property or a single day to start, then extend once they are comfortable.
How pay works on a real Bend deal
The fee in your agreement is what your agent is owed if you buy. Where the money comes from is negotiated in the offer. A seller can still agree to cover some or all of the buyer's agent fee as a term of the sale, and many do, because it widens the pool of buyers who can afford their home. It is no longer assumed and it is no longer posted. When we write your offer we ask the seller to pay it. If the seller covers all of it, you pay nothing out of pocket. If the seller covers part, the balance is yours at closing, and you knew the number before you toured. If you want the seller to pay it, that request goes in the offer, and it is one of the terms the seller weighs alongside price and timing.
What a buyer's broker does here
We set up the search and the alerts, tour with you, pull the closed sales for each home you like, write the offer, negotiate price and terms, manage the inspection period and any repair request, keep the lender and the title company on the timeline, and walk the property with you before closing. On land and rural homes we check the well, the septic, the zoning, and the access. On resort and HOA properties we read the documents before you commit. The buy page lists the steps and the questions buyers ask most.
New construction
The agreement matters most at a model home. The builder's onsite representative works for the builder. If you walk in without your own agent and register, some builders will not let you add one later. Sign with us first, and we go with you or register you ahead of the visit. Our new construction guide covers the rest.
Questions
Do I need a written buyer-broker agreement before touring?
Yes. Under the rules that took effect in August 2024, an agent working with a buyer must have a written agreement in place before touring a home with that buyer. We review it with you before the first showing.
How does a buyer's agent get paid in Bend now?
Your agreement states the fee. In the offer we ask the seller to cover it, and a seller can agree to cover some or all of it as a term of the sale. Any balance the seller does not cover is paid by you at closing, and you knew that number before you toured.
Can I look at new construction without my own agent?
You can, but the builder's representative works for the builder, and some builders will not let you bring in your own agent after you have registered at the model home. Sign the agreement with us first and we register you or go with you.
What does a buyer's broker actually do in Central Oregon?
Search and alerts, showings, comps on each home, the offer and the negotiation, the inspection period, coordination with the lender and title, and the final walk-through. On rural property that includes checking the well, the septic, the zoning, and the access.
What if the seller offers nothing toward the buyer-agent fee?
Then the fee in your agreement is yours at closing, or you make covering it a term of your offer. We tell you how the seller has responded to that request on similar homes before you decide how to write yours.
Next step
Get listing alerts for the homes you want to see, and we will send the agreement to read before the first tour. Or book a call and we go through it together.
Matt RyanOwner & Principal Broker at Ryan Realty.
