Agent Compensation

A buyer agency agreement is a contract between a buyer and a real estate agent that defines the working relationship, the duration, the geographic scope, and how the agent is compensated. In North Carolina, you sign one before an agent shows you homes. As of July 2026, NC REALTORS® revised the core buyer agency forms significantly: Form 201 (the full exclusive agreement) was condensed from 7 pages to 3, a brand-new Form 202 (Property Showing Agreement) was introduced for one-time showings without ongoing commitment, and Form 220 (buyer agent compensation) was completely redrafted as a purchase contract addendum rather than a standalone document. Here is what each form means and what to pay attention to before you sign.