BIC TIP #1309: Put It in the Contract

Buyer’s agents, listen up. Stephen Long, your Notorious BIC, has a simple message about getting paid: put it in the contract. If you want to be compensated by the seller, that request now belongs in the Offer to Purchase and Contract through Form 220, the Buyer Agent Compensation Addendum.

Only the Contract Matters

It does not matter what is being offered. It does not matter what you saw on social media. It does not matter what is on the yard sign or the flyer in the house. All that matters is what is in the contract.

Marketing materials and conversations are not a binding agreement for your compensation. If seller-paid compensation is not written into the deal, you are hoping, not contracting.

Form 220 Is the Vehicle

The new Form 220, the Buyer Agent Compensation Addendum, is how you make seller-paid compensation part of the offer. Complete it, attach it, and reference it in the addenda section of the contract so the contract and addendum work together.

If you skip that addendum, you may not get paid. That is not a scare tactic. It is just how contracts work.

Talk to Your Buyer First

Including Form 220 in an offer is also a great moment to revisit your buyer agency agreement with your client. Your buyer should understand how you are being compensated, what you are asking the seller to contribute, and what happens if the seller says no.

Clear conversations up front make the offer stronger and keep everyone on the same page when negotiations start.

The Practical Takeaway

Stop relying on what the listing says, what the sign says, or what someone posted online. If you want seller-paid compensation, write it into the offer using Form 220 and make it part of the contract. Get it in writing, get it signed, and give yourself the best chance of getting paid. Questions? Check with your broker-in-charge.

This BIC Tip is general real estate education for licensees and consumers, not legal, tax, or financial advice. Rules and forms change, so verify current NCREC rules, MLS rules, and standard forms, and consult a North Carolina attorney or qualified professional about your specific situation. See Disclaimers & Disclosures.