NAR SETTLEMENT CHANGES
Real Estate Buyer Representation Agreement: NAR Changes 2025-2026 and What Saskatchewan Agents Need to Know
The 2025 National Association of Realtors (NAR) settlement changed how buyer representation agreements work in the United States. These changes have sparked questions across the real estate industry – including in Saskatchewan. Whether you are a new agent or an experienced professional, understanding the NAR settlement and how it compares to Saskatchewan’s existing buyer agency rules will help you serve clients with confidence.
In March 2024, the National Association of Realtors (NAR) reached a landmark settlement in a series of class-action lawsuits over how real estate commissions are advertised and paid. The settlement, which took effect in 2025, introduced several changes to the way buyer representation agreements work in the United States. The biggest changes: buyer broker commissions can no longer be listed on multiple listing services (MLS), and buyers must now sign a written representation agreement before touring a home.
For Saskatchewan agents and brokerages, these US-specific changes do not directly change the legal framework here – Saskatchewan real estate is governed by the Saskatchewan Real Estate Commission (SREC), not NAR. However, the settlement has shifted the broader industry conversation around buyer agency. Clients are asking questions, and informed agents need to know how the US rules compare to Saskatchewan requirements.
For Saskatchewan agents and brokerages, these US-specific changes do not directly change the legal framework here – Saskatchewan real estate is governed by the Saskatchewan Real Estate Commission (SREC), not NAR. However, the settlement has shifted the broader industry conversation around buyer agency. Clients are asking questions, and informed agents need to know how the US rules compare to Saskatchewan requirements.
KEY CHANGES
What the NAR Settlement Changed
NO MORE MLS OFFERS
No MLS Commission Offers
Under the old US system, the listing broker could advertise a buyer broker commission on the MLS. The NAR settlement eliminated this practice. Buyer broker compensation must now be negotiated directly between the buyer and their agent – not set through the listing. This change aims to make commission structures more transparent for home buyers.
BUYER AGREEMENTS REQUIRED
Buyer Agreements Before Tours
One of the most impactful changes: US buyers must now sign a written buyer representation agreement before touring a property. This ensures the buyer understands their agent’s duties, how compensation works, and what they are agreeing to – before any showing happens. The agreement must clearly state the amount or rate of compensation the buyer’s agent will receive.
CANADIAN COMPARISON
How Saskatchewan Compares
Saskatchewan already has strong buyer representation protections. Under SREC Bylaw 733, all service agreements must be in writing and signed. The Agency Disclosure (Form 205) must be provided before any offer is made. While Saskatchewan does not require a signed agreement before every single showing (as the new NAR rule does in the US), the province’s existing rules already ensure buyer agency is documented, transparent, and binding.
AGENT PRACTICE
What This Means for Agents
The NAR settlement has raised client awareness about buyer representation agreements. More buyers are asking: Do I need a written agreement? How does commission work? Who pays my agent? Saskatchewan agents should be prepared to answer these questions clearly. In this province, a signed service or buyer agency agreement is required before you can collect commission – and proper disclosure builds trust with every client you serve.
THE NAR SETTLEMENT
What the 2025-2026 NAR Settlement Changed for Buyer Representation
The NAR settlement focused on three main areas that directly affect buyer representation:
1. MLS Commission Offers Removed. Before the settlement, listing brokers could advertise a commission offer to buyer brokers through the MLS. This practice created a system where the seller effectively paid both sides of the transaction, and buyers often had no idea how much their agent was being paid. The settlement removed buyer broker commission offers from the MLS entirely. Buyer compensation must now be negotiated and agreed upon outside the MLS.
2. Mandatory Buyer Representation Agreements. Starting in 2025, US REALTORS working with buyers must enter into a written buyer representation agreement before touring a property. This is a significant shift from the previous practice where many buyers worked with an agent informally, sometimes going months without a signed agreement. The rule ensures buyers understand the terms of the relationship, including compensation, from the very first showing.
3. Transparency in Compensation. The settlement requires greater disclosure around how buyer agents are compensated. Buyers must be informed about what services their agent provides and how much those services cost – whether the compensation comes from the seller, the buyer, or a combination of both. This eliminates hidden commission structures and gives buyers a clearer picture of the transaction’s costs.
1. MLS Commission Offers Removed. Before the settlement, listing brokers could advertise a commission offer to buyer brokers through the MLS. This practice created a system where the seller effectively paid both sides of the transaction, and buyers often had no idea how much their agent was being paid. The settlement removed buyer broker commission offers from the MLS entirely. Buyer compensation must now be negotiated and agreed upon outside the MLS.
2. Mandatory Buyer Representation Agreements. Starting in 2025, US REALTORS working with buyers must enter into a written buyer representation agreement before touring a property. This is a significant shift from the previous practice where many buyers worked with an agent informally, sometimes going months without a signed agreement. The rule ensures buyers understand the terms of the relationship, including compensation, from the very first showing.
3. Transparency in Compensation. The settlement requires greater disclosure around how buyer agents are compensated. Buyers must be informed about what services their agent provides and how much those services cost – whether the compensation comes from the seller, the buyer, or a combination of both. This eliminates hidden commission structures and gives buyers a clearer picture of the transaction’s costs.
SASKATCHEWAN CONTEXT
How Saskatchewan Buyer Representation Rules Compare
While the NAR settlement applies to US states where NAR-affiliated boards operate, Saskatchewan already has a robust regulatory framework for buyer representation through the Saskatchewan Real Estate Commission (SREC). Here is how the two compare:
Written Agreements in Saskatchewan. Under SREC rules, registrants must have a signed service agreement before they can collect commission for services provided to a buyer. The service agreement must include the date, parties, services covered, compensation terms, duration, and cancellation provisions. Saskatchewan law already requires these in writing – this is not new.
Agency Disclosure (Form 205). Before any offer is made, a Saskatchewan agent must provide a completed Agency Disclosure form that explains the available agency relationships and confirms which applies. This form outlines the fiduciary duties the registrant owes the client, including confidentiality, loyalty, and full disclosure. The US settlement’s emphasis on upfront transparency mirrors what Saskatchewan already requires.
Buyer Agency Agreements vs Service Agreements. In Saskatchewan, the type of agreement depends on the relationship. A buyer agency agreement creates a full agency relationship with fiduciary duties. A service agreement (non-agency) provides specific services without creating an agency relationship. Both must be in writing. The NAR settlement effectively requires the equivalent of a buyer agency agreement before showings – a step that Saskatchewan already makes available through its standard forms.
What Hasn’t Changed in Saskatchewan. SREC continues to regulate agency relationships under The Real Estate Act. MLS practices in Canada are governed by CREA (Canadian Real Estate Association) and the provincial real estate councils, not NAR. Commission structures and MLS rules in Saskatchewan remain under the oversight of SREC and the local real estate boards.
Written Agreements in Saskatchewan. Under SREC rules, registrants must have a signed service agreement before they can collect commission for services provided to a buyer. The service agreement must include the date, parties, services covered, compensation terms, duration, and cancellation provisions. Saskatchewan law already requires these in writing – this is not new.
Agency Disclosure (Form 205). Before any offer is made, a Saskatchewan agent must provide a completed Agency Disclosure form that explains the available agency relationships and confirms which applies. This form outlines the fiduciary duties the registrant owes the client, including confidentiality, loyalty, and full disclosure. The US settlement’s emphasis on upfront transparency mirrors what Saskatchewan already requires.
Buyer Agency Agreements vs Service Agreements. In Saskatchewan, the type of agreement depends on the relationship. A buyer agency agreement creates a full agency relationship with fiduciary duties. A service agreement (non-agency) provides specific services without creating an agency relationship. Both must be in writing. The NAR settlement effectively requires the equivalent of a buyer agency agreement before showings – a step that Saskatchewan already makes available through its standard forms.
What Hasn’t Changed in Saskatchewan. SREC continues to regulate agency relationships under The Real Estate Act. MLS practices in Canada are governed by CREA (Canadian Real Estate Association) and the provincial real estate councils, not NAR. Commission structures and MLS rules in Saskatchewan remain under the oversight of SREC and the local real estate boards.
FOR SASKATCHEWAN AGENTS
What Saskatchewan Agents Should Know
The NAR settlement is a US-specific event, but it has shifted the industry conversation in ways that affect agents everywhere – including Saskatchewan. Here are the key takeaways:
Your clients may ask about it. Real estate news travels fast. Buyers who read about the NAR settlement may wonder if similar changes apply in Canada. You should be ready to explain that Saskatchewan already has strong buyer representation rules, including written agreement requirements and mandatory agency disclosure.
Saskatchewan already leads on transparency. The disclosure and written-agreement requirements the NAR settlement introduced in the US have been standard practice in Saskatchewan for years. SREC’s existing rules ensure that buyer agency is documented, compensation is clear, and clients understand who represents them. Use this as a confidence point when speaking with clients.
Best practices still matter. Even though Saskatchewan law may not require a signed buyer agreement before every showing, adopting the practice voluntarily builds trust. Having a buyer agency agreement signed early in the relationship clarifies expectations, prevents misunderstandings, and protects both you and your client. It is a mark of professionalism.
Stay informed. Industry regulations evolve. While the NAR settlement does not directly change Saskatchewan law today, CREA and provincial regulators may review their own practices in response to broader industry trends. Staying current on both US developments and local regulatory updates positions you as a knowledgeable, trusted advisor.
Your clients may ask about it. Real estate news travels fast. Buyers who read about the NAR settlement may wonder if similar changes apply in Canada. You should be ready to explain that Saskatchewan already has strong buyer representation rules, including written agreement requirements and mandatory agency disclosure.
Saskatchewan already leads on transparency. The disclosure and written-agreement requirements the NAR settlement introduced in the US have been standard practice in Saskatchewan for years. SREC’s existing rules ensure that buyer agency is documented, compensation is clear, and clients understand who represents them. Use this as a confidence point when speaking with clients.
Best practices still matter. Even though Saskatchewan law may not require a signed buyer agreement before every showing, adopting the practice voluntarily builds trust. Having a buyer agency agreement signed early in the relationship clarifies expectations, prevents misunderstandings, and protects both you and your client. It is a mark of professionalism.
Stay informed. Industry regulations evolve. While the NAR settlement does not directly change Saskatchewan law today, CREA and provincial regulators may review their own practices in response to broader industry trends. Staying current on both US developments and local regulatory updates positions you as a knowledgeable, trusted advisor.
YOUR BROKERAGE PARTNER
CENTURY 21 Fusion
At CENTURY 21 Fusion, we train our agents to handle buyer representation agreements with total transparency and confidence. Every agent in our brokerage understands Saskatchewan’s agency rules, SREC requirements, and how to communicate the value of professional representation to buyers and sellers.
Whether you are navigating client questions about the NAR settlement or building your knowledge of Saskatchewan’s buyer agency rules, C21 Fusion provides the mentorship and training to help you succeed. Our team stays current on industry changes so you can focus on serving your clients.
Whether you are navigating client questions about the NAR settlement or building your knowledge of Saskatchewan’s buyer agency rules, C21 Fusion provides the mentorship and training to help you succeed. Our team stays current on industry changes so you can focus on serving your clients.
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