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Representation Starts With Clarity
Understanding buyer representation agreements is essential before touring any home in Indiana.
As of July 1, 2024, Indiana requires a written buyer representation agreement before an agent can show you homes. This is not a formality. It is a document that defines how I work for you, how I am compensated, and what you can expect from our working relationship. This module explains what it covers and why it matters.
Indiana Buyer Agreement Explained
The Indiana Real Estate Commission now requires buyers to sign a written agreement with their agent before touring properties. This change was part of a national shift toward transparency in real estate. The agreement establishes a professional relationship and ensures both parties are clear on roles, responsibilities, and compensation before any property tours take place.
What the Agreement Covers
The buyer representation agreement outlines several key areas that protect both you and your agent.
Scope of Services
Defines exactly what your agent will do for you including property searches, showings, negotiations, and transaction management.
Duration
Specifies the time period the agreement is in effect. Typical agreements range from 90 days to 6 months.
Compensation
Clearly states how your agent is paid, whether through seller concessions, buyer payment, or a combination.
Duties & Obligations
Outlines the fiduciary duties your agent owes you including loyalty, confidentiality, and full disclosure.
Why It Matters
Without a signed agreement, an agent cannot legally represent your interests when touring homes or writing offers. The agreement ensures you have someone in your corner who is legally obligated to work in your best interest. It also prevents misunderstandings about compensation and sets clear expectations for both sides. I walk every client through this document line by line during our initial consultation so you feel confident about what you are signing.
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Frequently Asked Questions
Buyer agent compensation can come from multiple sources including the seller, the listing broker, or the buyer directly. In many transactions the seller offers compensation to the buyer agent as part of the listing terms. I will explain exactly how compensation works in your specific situation during our consultation.
Yes. As of July 1, 2024, Indiana law requires a signed buyer representation agreement before an agent can show you properties. This protects both you and the agent by establishing a clear working relationship upfront.
The terms for cancellation are outlined in the agreement itself. I believe in earning your business every day, so I keep my agreements reasonable and fair. If we are not a good fit, we can have an honest conversation about it.
The agreement typically covers any home you purchase during the agreement period, regardless of how you found it. This is standard practice and ensures continuity of representation throughout your search.
No. The buyer representation agreement defines your relationship with your agent. The purchase agreement is the contract you sign when you make an offer on a specific property. They are two separate documents with different purposes.
Questions? (317) 660-5745 or sheldon@mycarmelrealty.com
Questions? (317) 660-5745 or sheldon@mycarmelrealty.com