If you're starting your home search, there's a good chance you'll hear your agent mention the EBBA — the Exclusive Buyer Brokerage Agreement. Another form, I know. But this one is actually worth understanding, because it works in your favor just as much as your agent's.
Here's the short version: the EBBA is a written agreement between you and your agent's brokerage that spells out exactly what they'll do for you, how they get paid, and how long you'll work together. No surprises, no fine print traps — just clarity from day one.
Why Does This Form Exist?
Following the National Association of Realtors settlement that took effect in August 2024, agents are now legally required to have a signed written buyer agreement in place before taking you on any physical property tour. The goal was simple: make sure buyers know exactly what they're agreeing to before the process begins.
What the Agreement Actually Covers
Exclusivity — During the term of the agreement, you're working with one agent and their brokerage to purchase a home. If your agent finds a property for you, you can't loop in a different agent to write the offer on it.
The Timeline Is Flexible — This is one most people don't realize. Per Florida Realtors guidelines, the duration can range from a single property showing all the way to a full year. Not ready to commit long-term? You can start with a short window — even a single day — just to see how you work together.
Compensation Is Spelled Out Clearly — By law, the form must list a specific dollar amount or percentage for the agent's commission. Nothing vague, nothing open-ended. The NAR settlement terms specifically require that buyer broker fees be "objectively ascertainable." You'll know the number before you sign.
Who Actually Pays — This is the part most buyers worry about. It is still standard practice to ask the seller to cover the buyer's agent fee out of their sale proceeds — and in most cases, that's exactly what happens. If the seller declines, you would be responsible for covering the difference at closing. Your agent is required to let you know about this before touring any property.
The Sections Worth Reading Carefully
The Protection Period — Once the agreement ends, there's typically a 30-day window (the Florida Realtors standard form defaults to 30 days if left blank) during which, if you purchase a home your agent originally introduced to you, their commission still applies. This protects the work they've already done on your behalf.
Single Agent vs. Transaction Broker — The agreement defines the type of relationship you have with your agent. A Single Agent owes you full loyalty — their job is to look out for you and only you. A Transaction Broker acts as a neutral facilitator for both the buyer and seller. Make sure you understand which one applies before signing.
How to Cancel — Depending on the agreement, cancellation may be as simple as a text or email, or it may require mutual written consent. Read this section carefully so you always know your options.
Not Ready to Commit? That's Okay Too
If you want to explore before signing a full EBBA, ask your agent about a Showing Agreement. It's a non-exclusive form that satisfies the legal requirement so you can tour a specific home without locking into a longer commitment — a great way to get a feel for working with an agent before anything more formal.
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