Buying a House in Iowa
The process from financing and search through inspections and closing.
Iowa home buyer guide
Why am I being asked to sign a buyer agreement?
Before touring homes with a buyer's agent, you may be asked to sign a written agreement. Here is what it means, what is negotiable, and what to understand before you sign.
Written buyer agreements, in plain English
First: “EBA” is industry shorthand—not the important part.
You may hear terms such as Exclusive Buyer Agency Agreement (EBA), buyer representation agreement, or written buyer agreement. The exact form and relationship can vary. What matters is that you understand who the agent represents, what services are being provided, how long the agreement lasts, and how compensation works.
The key rule: MLS participants working with a buyer generally must enter into a written agreement with that buyer before touring a home together, whether the tour is in person or live virtual. That requirement does not mean every consumer walking into an open house must sign an agreement.
Why does the agreement exist?
The purpose is transparency. It puts the relationship in writing before you begin touring homes: the agent's services, your responsibilities, the term of the relationship, and compensation.
What should you look for before signing?
- Services: What will your agent actually do for you?
- Duration: How long does the agreement run?
- Scope: Does it apply to one property, an area, or your broader search?
- Compensation: What amount or rate has been agreed upon, and how might it be paid?
- Termination: What does the agreement say about changing or ending the relationship?
Is the commission fixed?
No. Broker fees and commissions are not set by law and are fully negotiable. A written buyer agreement should state compensation in an objectively ascertainable way rather than leaving it open-ended.
Does signing mean you must write your agent a check?
Not automatically. Your agreement establishes the compensation obligation, but a buyer can still request or negotiate for the seller or listing broker to contribute toward buyer-broker compensation. The result depends on the property, the offer, the agreement, and the parties' negotiations.
Why the agent you choose matters
A buyer's agent should do more than unlock doors. I help buyers think through price, negotiations, property condition, improvement potential, lots and new construction. My construction background can help identify questions worth investigating—but it does not replace an independent home inspection, engineering review, appraisal, or specialist evaluation.
Before you sign anything: read the actual agreement, ask questions about anything you do not understand, and make sure its terms reflect what you and the broker agreed to. This page is general educational information, not legal advice.
Have questions before you sign?
Get a no-pressure buyer consultation with Craig.
Buyer agreement FAQ
Common questions from Iowa buyers.
What is a written buyer agreement?
It is a written agreement between a buyer and a real estate professional that outlines the services to be provided and the compensation terms.
Do I need to sign one before seeing a house?
MLS participants working with a buyer generally must have a written buyer agreement in place before touring a home together, including a live virtual tour. An unrepresented consumer attending an open house does not need one simply to attend.
Is buyer-agent compensation negotiable?
Yes. Broker fees and commissions are not set by law and are negotiable. The written agreement should clearly state the compensation terms you and the broker agree to.
Does signing mean I automatically pay my agent out of pocket?
Not necessarily. The agreement controls the buyer's obligation, but buyers may request or negotiate for seller or listing-broker contributions toward buyer-broker compensation. The details depend on the transaction and agreement.
Is an exclusive buyer agency agreement the only option?
No. The permitted form and scope of a buyer relationship can vary. Terms such as duration, geography, services and compensation should be discussed before signing.
Can I attend an open house without signing a buyer agreement?
Yes, if you are attending the open house on your own and are not touring it with an agent who is working with you as your buyer representative.
Keep planning