C
ustomizing buyer agreements is a delicate dance, as agents must balance the need to tailor their forms with the requirement for specific compensation details. According to Lesley Muchow, NAR's general counsel, agents have significant leeway in shaping their agreements, but only if they include the necessary provisions.

    While it may seem counterintuitive, signed buyer agreements can be amended – but not solely to match compensation offered by listing brokers or sellers. "It cannot and should not solely be for the purpose of matching compensation," Muchow emphasized. Amendments are permissible when there's a legitimate business justification, such as changes in scope or services.

    For instance, if an agreement initially contemplated a month-long process that ended up taking 18 months, an amendment might be justified to reflect the increased time and effort required. However, any proposed amendments must be discussed with the buyer and agreed upon by both parties. Agents should also ensure that their state law allows for contract enforceability.

    When it comes to sharing signed agreements, Muchow advises against it – unless required by state law or later in the process. "That's a confidential agreement," she said. "There's very sensitive information there that's material to the negotiation process." Some states may require disclosure of these agreements, so agents should be aware of their local laws.

    Ultimately, transparency is key when working with buyer agreements. Agents must clearly communicate their services and value to clients while adhering to the law and MLS policy. When in doubt, Muchow recommends consulting with a broker to navigate any "bumps in the road" that may arise.