The way homebuyers work with real estate agents has changed dramatically over the past year, largely as a result of industry-wide reforms to commission and representation rules. Those changes were designed to give buyers more clarity about who represents them and how that representation is paid for. But clarity on paper doesn’t always translate to clarity in practice.
A rule change meant to increase transparency in buyer representation has instead fragmented the agent-client relationship, pushing buyers to bypass dedicated representation entirely.
In high-activity markets like Palm Beach County, that fragmentation is playing out in a very specific way: buyers touring homes with a different agent for nearly every property, rather than relying on one consistent advisor throughout their search.
A Settlement’s Unintended Consequences
When the National Association of Realtors settlement took effect, the intent was to make buyer representation more transparent and ensure consumers understood how their agents were compensated. In practice, according to Linda Wellman, a luxury broker associate with Berkshire Hathaway HomeServices Florida Realty, it has produced something far more chaotic: buyers working with a different agent for every property they view.
The settlement requires buyers to sign a broker agreement specific to each property they tour, rather than maintaining a single ongoing relationship with one agent. That requirement has changed how buyers move through the market. Instead of building a working relationship with a buyer’s agent who guides them across multiple properties, buyers are going directly to the listing agent for each home they want to see.
“They may work with 10 different realtors because they’re looking at that specific home with a specific realtor,” Wellman says. “It never used to be like that.”
Collapse of Buyer Representation
The traditional buyer-agent model was built on continuity. A buyer would work with a single agent over weeks or months, developing a shared understanding of their needs, budget, and priorities. That agent would filter listings, provide market context, and serve as a consistent advocate through negotiation and closing.
Wellman argues that the new requirement has effectively dismantled that model in her market. Because signing a broker agreement feels like a commitment, many buyers are reluctant to do so with a single agent across multiple properties. The path of least resistance is to contact the listing agent directly – which requires no ongoing commitment and no broker agreement beyond that specific showing.
The result is buyers who are technically represented at each individual transaction but lack any consistent advisory relationship across their search. In Wellman’s experience, buyers are now touring as many as 30 homes before making a decision – without the benefit of a single experienced guide helping them interpret what they’re seeing.
Impact on Negotiation Dynamics
The fragmentation of buyer representation carries implications beyond agent workflow. When a buyer works directly with a listing agent, that agent has a fiduciary obligation to the seller. Dual agency arrangements, where permitted, require disclosure, but the practical reality is that a listing agent’s primary loyalty runs to the seller. Buyers who bypass dedicated representation may not fully appreciate that dynamic.
Wellman also points to changes in how buyers are approaching offers. In the current Palm Beach County market, buyers are coming in with very low initial offers, sometimes refusing to counter if the seller doesn’t accept, and simply moving on to the next property. Without a buyer’s agent providing market context and negotiation guidance, this pattern may be intensifying – buyers acting on instinct rather than informed strategy.
For sellers, the fragmentation creates its own complications. Listing agents fielding direct inquiries from unrepresented buyers must manage the transaction more carefully, and the absence of a buyer’s agent can slow the process when buyers lack experience navigating inspections, insurance requirements, and contract contingencies.
How Listing Agents Adapt
With the traditional buyer-agent filter removed, listing agents are adjusting how they attract and manage buyers directly.
Wellman says her team has responded by investing heavily in marketing that reaches buyers before they ever contact an agent – through lifestyle videos, AI-enhanced content, and targeted digital distribution. The goal is to attract buyers who are already informed and motivated, reducing friction that comes from working with buyers simultaneously shopping 10 different properties through 10 different agents. “I focus a lot on video,” Wellman says, describing a process that includes producing content showing how a property actually functions for a family, not just how it photographs.
An Open Question
Whether the NAR settlement’s buyer broker requirement will be revised or adapted by the industry remains unclear. But Wellman’s observation – that it has pushed buyers away from continuous representation and toward a fragmented, property-by-property approach – suggests the settlement’s ground-level effects may look quite different from its stated intentions.
In active markets like Palm Beach County, the patterns emerging around buyer behavior point to a gap between the policy’s transparency goals and how consumers are actually responding. If buyers are less informed and less consistently represented than they were before the settlement, the rule may be undermining the very consumer protection it was designed to provide.
About the Expert: Linda Wellman is a Luxury Real Estate Broker Associate at Berkshire Hathaway HomeServices Florida Realty, with 39 years of experience covering Palm Beach County from Boca Raton to Jupiter.
This article is intended for informational purposes only and does not constitute legal, financial, or investment advice. The views and opinions expressed herein reflect those of the individuals quoted and do not represent an endorsement of any company, product, or service mentioned. Readers should conduct their own due diligence and consult qualified professionals before making any investment decisions.