You're buying a home on the Grand Strand and you're hearing that the rules around who pays for the buyer's agent changed. Here's the honest picture. The industry-wide changes that took effect in 2024 reshaped how buyer agent commissions get discussed, disclosed, and paid. For buyers shopping Myrtle Beach real estate or anywhere else on the strand, the practical impact is more nuanced than most media coverage suggests. Let me walk you through what actually changed and what it means for your specific purchase.
What Actually Changed
The National Association of Realtors settlement and subsequent industry practice changes did a few specific things.
- Removed the requirement to advertise buyer agent commissions in the MLS. Sellers can still offer to pay buyer agent commission, but they no longer have to include it in the MLS listing.
- Required buyer agents to have signed written agreements with buyers before touring homes. The agreement must specify how the buyer's agent gets paid.
- Made compensation more directly negotiable. Buyers, sellers, and agents can structure compensation more flexibly than the old default model allowed.
What didn't change: sellers can still pay buyer agent commissions, and in many transactions they still do. The mechanism is just different than it used to be.
What This Means for Your Practical Buying Experience
Here's what actually changes when you're shopping.
You'll sign an agreement with your buyer's agent before touring. This agreement specifies what your agent will do for you and how they get paid. Read it carefully. Ask questions. Understand what services you're getting and what the compensation structure is.
You may see fewer buyer agent commissions listed on MLS listings. Some sellers still advertise them; others don't. When it's not advertised, your agent will need to ask the listing agent directly what compensation is being offered.
You'll have more conversations about compensation upfront. Buyer-agent relationships now start with clearer discussions about how the agent gets paid, which is generally healthy but requires more upfront alignment.
Who Actually Pays for Your Buyer's Agent Now
The compensation structure now takes a few different forms.
Seller pays through the closing statement. Still very common. The seller offers to pay buyer agent commission, the buyer's agent receives it at closing, and the buyer doesn't directly write a check.
Buyer pays through negotiated arrangements. The buyer's agent agreement specifies what the buyer will pay if the seller doesn't cover it. This might be a percentage, a flat fee, or a minimum amount with adjustments based on what the seller offers.
Split arrangement. Some transactions involve the seller covering part and the buyer covering the difference between the seller's offer and the agreed-upon buyer agent compensation.
The specifics get negotiated as part of the offer. Understanding this before you start shopping helps you write stronger offers.
How This Affects Offer Strategy
The compensation flexibility now affects how competitive offers get structured.
Buyers with cash flexibility can offer to cover their own agent's compensation as part of a stronger offer. The seller pockets more of the purchase price and often views the offer more favorably.
Buyers with tighter budgets may need to request seller-paid buyer agent commission as part of their offer terms. Sellers can accept or counter based on other offer strengths.
Financing implications matter too. Some loan programs allow certain buyer costs to be financed. Others limit how compensation can be structured. Ask your lender specifically about your loan program.
Whether you're looking at inventory in North Myrtle Beach real estate or newer subdivisions like Wild Wing Plantation, the strategic conversation with your agent should include compensation structure alongside price and terms.
What Buyers Should Verify Before Signing With an Agent
The written buyer-agent agreement matters more than most buyers realize.
- Compensation amount or percentage. Understand exactly what you agree to pay if the seller doesn't cover it.
- Duration and exclusivity. Some agreements bind you to work only with that agent for a specific period.
- Geographic and property-type scope. What areas and property types does the agreement cover?
- Services included. What will the agent actually do for you beyond opening doors?
- Termination provisions. How can you end the agreement if the relationship isn't working?
- Protection clauses. Are you obligated to work with the agent on properties you've already toured with them?
Don't rush this signing. A weak buyer-agent agreement can cost you more than a bad offer on a specific property.
The Grand Strand-Specific Realities
A few dynamics that affect Grand Strand buyers specifically.
Out-of-state relocation buyers often need more agent services — video tours, remote coordination, local market intelligence, referrals to lenders, inspectors, and contractors. Higher service level often justifies clearer compensation structures.
Investor buyers shopping for vacation rentals or long-term rentals often have specific due diligence needs that experienced agents charge for accordingly.
Luxury and specialty property buyers work with agents who bring specific market expertise that supports higher compensation structures.
First-time buyers benefit from agents with more hand-holding, education, and process navigation — services that need to be compensated somehow.
Match the agent's expertise and services to your actual needs, then align on compensation accordingly.
What Nobody Tells Buyers About These Changes
Two patterns worth flagging.
The changes generally favor sophisticated buyers who understand what they're agreeing to. Buyers who read the agreements carefully, negotiate services and compensation deliberately, and structure offers strategically often come out ahead. Buyers who rush through the paperwork without understanding it may end up with agreements that cost more than necessary.
Great buyer agents are still worth their fee. The compensation changes didn't reduce the value good agents deliver — market knowledge, negotiation expertise, due diligence guidance, and network relationships all still matter. The changes just made the value exchange more explicit. If you find an agent whose expertise justifies the compensation, the arrangement should still work well for you.
Two Things I Tell Every Grand Strand Buyer Navigating These Changes
First, interview a few agents before signing an exclusive agreement. The relationship you're entering matters. Understand each agent's expertise, communication style, and compensation structure before committing. Interviewing multiple options doesn't obligate you to pick anyone — but it does give you the context to make a good decision.
Second, discuss the compensation strategy as part of your offer strategy. Whether you request seller-paid commission, cover it yourself, or negotiate a split arrangement changes how competitive your offer looks. Talk this through with your agent explicitly for each property you consider making an offer on. For competitive markets like the newer inventory in Conway real estate, offer structure matters more than ever.
Key Takeaways
The NAR settlement changed how buyer agent commissions get discussed, disclosed, and paid, but on the Grand Strand sellers still cover them in most transactions. Buyers now sign written agreements with an agent before touring, and MLS listings may or may not advertise buyer agent commissions, so your agent may need to ask sellers directly. Compensation shows up in multiple forms now — seller-paid, buyer-paid, or a split — and offer strategy has to include structure alongside price and terms. Read the buyer-agent agreement carefully before you sign it, and interview agents who understand both the settlement and the local market.
Frequently Asked Questions
Do I have to sign a buyer-agent agreement to see homes?
Under current rules, yes — agents are required to have signed written agreements before showing homes. You can sign a short-term or limited-scope agreement to tour a specific home if you're not ready to commit to a long-term exclusive arrangement.
Can I negotiate the buyer agent commission?
Yes. Compensation is negotiable between you and your buyer's agent. Discuss it upfront. Some agents have standard rates; others adjust based on services provided, transaction complexity, or specific market conditions.
What happens if the seller offers less commission than my agent's agreement specifies?
Depends on your specific buyer-agent agreement. Some agreements require you to cover the difference. Others let you negotiate with the seller to increase their offer, walk away from the property, or restructure the deal. Read your agreement carefully.
Can I fire my buyer's agent if the relationship isn't working?
Yes, but the specific process depends on your agreement. Some agreements allow termination with written notice. Others have specific conditions or time requirements. Understand these terms before signing.
Do these changes affect the total price I pay for a home?
Indirectly. In practice, home prices reflect a lot of factors including how commissions are structured. Some analysts argue the changes will eventually reduce total transaction costs; others argue buyers may end up paying commission directly rather than seeing it embedded in the price. The specific impact varies by market and transaction.
About Greg Harrelson
Greg Harrelson is a seasoned Realtor® with more than 30 years of experience serving the Myrtle Beach and Grand Strand markets. As the founder of Century 21 The Harrelson Group, Greg has built his career helping buyers, sellers, and investors achieve success in every corner of the coastal Carolina real estate market. His expertise spans residential homes, investment properties, land development, and coastal condos. Known for his deep local knowledge, innovative marketing strategies, and commitment to personal service, Greg consistently helps clients reach their real estate goals while navigating the ever-changing market with confidence and precision.