Buyer guide

How to choose a residential brokerage or agent platform

For home buyers and sellers choosing an agent, and for agents choosing a brokerage. What changed in 2024, what to put in writing, and how to read the public record.

Published 2026-10-21. All guides · Residential brokerages hub

Our perspective

Since August 17, 2024, the paperwork does more of the work. NAR’s practice changes require buyers working with an MLS participant to sign a written agreement before touring a home, and compensation offers to buyer agents can no longer be published on an MLS. (National Association of REALTORS®, NAR Settlement FAQs (PDF, updated Oct 29, 2024)) For agents choosing a brokerage, the comparison is similar: 2 of the 6 national brokerages we profile state their agent commission split or fee plan in a filing or on their site, so ask for the plan in writing. Agent counts, transactions per agent and margins are public for the listed brokerages and are on each profile.

Checklist

Buyers: read the written buyer agreement before you tour. NAR’s FAQ says it must state the amount or rate of compensation (or how it is determined) in an objectively ascertainable, not open-ended way. (National Association of REALTORS®, NAR Settlement FAQs (PDF, updated Oct 29, 2024))
Sellers: agree in writing whether you will offer compensation to a buyer’s agent, and how much. Compensation is not set by law and is fully negotiable. (National Association of REALTORS®, NAR Settlement FAQs (PDF, updated Oct 29, 2024))
Check the agent’s license with your state regulator (ARELLO covers many states). (ARELLO, real estate license verification (participating jurisdictions))
Ask what services are included for the fee: showings, negotiation, marketing, transaction coordination.
Agents: get the split, caps, monthly or transaction fees, revenue share or stock terms, and exit terms in writing.
Agents: ask how leads are distributed and what referral fees apply to them.

Questions to ask

What exactly will you do for me, and what will it cost? Can we write that into the agreement?
How many buyers or sellers are you working with right now, and who covers for you when you are unavailable?
Which recent sales in this neighborhood did you handle, and can I see the results?
Do you or your brokerage have any affiliated lender, title or insurance company you may refer me to?
(Agents) What is my all-in annual cost at my expected volume, and what happens to revenue share or stock if I leave?

Red flags worth clarifying

None of these proves a problem on its own. Each is a reason to ask for an explanation in writing before you sign.

Compensation left blank or written as “whatever the seller offers” (NAR’s FAQ says buyer agreements cannot be open-ended).
Pressure to sign a long exclusive agreement before you have met in person or toured.
Referrals to affiliated companies without a written disclosure of the relationship.
(Agents) Fee plans that are only explained verbally.
(Agents) Income projections based on recruiting others rather than your own sales, with no written assumptions.

What the public record can and can’t tell you

Can show

Agent counts, transactions and margins of public brokerages (10-K)
Disclosed lawsuits and regulatory matters
Which metros a brokerage lists offices in
Individual license status

Can’t show

The skill of an individual agent
What a specific agent will charge you
Results of private brokerages that do not publish data

How our scores work here

Firms here get a public-record score: a number out of 10 with its breakdown, built only from audited filings, regulator and court records, and rankings researched by third parties. Criteria and weights: Agent base (20%); Agent trend (25%); Transactions per agent (20%); Net margin (20%); Legal and regulatory record (15%). Today 4 of the 6 firms we profile in this section can be scored; the others show “Not yet scored”, which means the public record does not cover every criterion. It says nothing about service quality. We attach no label, tier or recommendation to a score, and a lower number is not a judgment of how a firm treats clients. Use it to see what is documented, then do the checks below.

Explore

Residential brokerages hub · Cloud and revenue-share models · Franchise brands · Tech-led brokerages · Residential city hubs · Compass · eXp Realty · Real REMAX Group · Douglas Elliman · Redfin · Fathom · Compass vs Douglas Elliman · eXp vs Real REMAX Group · Atlanta · Phoenix

Questions

Do I have to sign an agreement before touring a home?

If you are working with an agent who is an MLS participant, NAR’s practice changes effective August 17, 2024 require a written agreement before touring. State law can add requirements. You can still choose not to use an agent.

Are commissions fixed?

No. NAR’s settlement FAQ states that compensation is not set by law and is fully negotiable.

Can sellers still pay the buyer’s agent?

Yes. Offers of compensation are still an option but cannot be communicated on an MLS; they must be made off-MLS, with the seller’s written approval.

What does a brokerage score measure?

Agent base, agent trend, transactions per agent, net margin and the legal and regulatory record, from filings. It is a number out of 10, not a recommendation.

Regulatory and legal points summarize the linked primary sources as read on 2026-10-21. Rules vary by state and change over time; this guide is general information, not legal or financial advice.

Sources

National Association of REALTORS®, NAR Settlement FAQs (PDF, updated Oct 29, 2024) · accessed 2026-10-20
ARELLO, real estate license verification (participating jurisdictions) · accessed 2026-10-20

Last verified 2026-10-21. Figures were re-read from the linked sources that day.

View changelog

2026-10-21 Guide published.