Florida Buyer Broker Agreement (BBA): What Canadian Buyers Sign Before Touring

Section 01Why the BBA exists

Until August 2024, a Canadian buyer in Florida could tour homes for weeks before signing anything binding with their agent. Compensation was published in the MLS as a cooperative offer from the listing broker, the buyer's agent took whatever the listing said, and the buyer rarely saw a written agreement before making an offer.

The Sitzer/Burnett antitrust class action, settled in March 2024, ended that model. As part of the settlement, the National Association of Realtors agreed to two practice changes effective August 17, 2024. The first removed cooperative compensation offers from every NAR-affiliated MLS. The second required every MLS Participant working with a buyer to enter into a written agreement with that buyer before touring any property, with the agent's compensation stated explicitly and conspicuously [1].

Florida Realtors published its revised Exclusive Buyer Brokerage Agreement forms on July 9, 2024, in time for the August 17 effective date. Stellar MLS, the largest Florida MLS, began enforcing the requirement on August 6, 2024, and announced an automatic 500 USD fine for first-time violations [2].

Section 02What is in a BBA

A Florida BBA is a relatively short document, typically four to six pages, that fixes the following terms.

Term and duration. The BBA can run from a single property tour (the Showing Agreement, form SA-5) to several months under an exclusive arrangement (the EBBA forms). The default term in the EBBA forms is filled in by the parties; common values in 2026 are 30, 60, or 90 days for a Canadian buyer who is shortlisting a property, and six to twelve months for a buyer in active acquisition mode.

Property scope. Type of property and location only; the new forms removed the price-range and pre-approval fields that older versions used to specify. A Canadian buyer can scope the BBA to a specific city, zip code, or even a specific property using the Showing Agreement.

Compensation. Stated as a percentage of the purchase price, a flat fee, or a combination. This is the cap on what the buyer's broker can receive from any source for the transaction. The BBA may also include a non-refundable retainer fee, which under the revised forms is now in addition to compensation rather than credited against it.

Agency relationship. This is the structural choice that distinguishes the four Florida Realtors EBBA variants:

Protection period. A default 30-day window after termination of the BBA. If the buyer closes on a property they were shown by that agent within 30 days of termination, the agent is still entitled to compensation under the original BBA. Buyers can negotiate this period.

Termination. The new "Conditional Termination" clause allows early termination subject to specific cancellation fees. Older agreements simply ended; the revised form formalizes the exit cost.

Dispute resolution. Mediation first, then binding arbitration only if both parties opt in. If they do not, disputes go to court. Older versions required arbitration by default; the new forms make it elective.

Section 03The four agency variants, explained

This is the part most Canadian buyers misunderstand. The four EBBA forms are not stylistic variants; they correspond to four different fiduciary duties owed to the buyer.

EBBA-8sa, Single Agent. The broker owes the buyer the full Florida fiduciary duties: loyalty, confidentiality, obedience to lawful instructions, full disclosure, accounting, and reasonable care. This is the strongest representation a Florida buyer can have. The trade-off: if the brokerage is also the listing brokerage, the relationship has to convert to transaction brokerage to close the deal (or the brokerage cannot represent both sides).

EBBA-8tb, Transaction Broker. The default Florida posture under § 475.278. The broker owes limited fiduciary duties: dealing honestly and fairly, accounting, skill and care, presenting all offers, disclosing known material facts, accounting for funds, and limited confidentiality. No undivided loyalty. No obedience.

EBBA-8tn, Single Agent with Consent to Transition. A hybrid: starts as single agent, automatically transitions to transaction broker if the brokerage ends up representing both sides. The buyer signs the consent in advance.

EBBA-8nr, No Brokerage Relationship. The agent owes only the duty to disclose known property facts and to deal honestly. No representation. Used in narrow cases, for example when the agent is showing a single property and not advising the buyer at all.

Section 04Compensation mechanics under the BBA

This is the new economic reality after August 2024. The BBA caps the buyer's broker's compensation. The seller may offer to cover it, but only up to the BBA cap.

Three scenarios cover most 2026 Florida transactions for Canadian buyers.

Scenario 1: Seller offers more than BBA cap. The buyer signed a BBA at 2.0%. The seller offers 3.0% to the buyer's broker. The buyer's broker receives 2.0%. The remaining 1.0% stays with the listing brokerage or the seller, depending on the listing agreement.

Scenario 2: Seller offers exactly BBA cap. The buyer signed a BBA at 2.5%. The seller offers 2.5%. The buyer pays nothing out of pocket for representation. This is the most common 2026 Florida outcome on competitive listings.

Scenario 3: Seller offers less than BBA cap. The buyer signed a BBA at 3.0%. The seller offers 2.0%. The buyer must pay the 1.0% gap directly at closing, or renegotiate the BBA downward, or walk away. On a 600,000 USD purchase, that gap is 6,000 USD in cash.

Section 05Worked example: 600,000 USD Florida purchase, Canadian buyer

A Canadian non-resident is buying a single-family home in Boca Raton for 600,000 USD. The buyer signs an EBBA-8sa (Single Agent) at 2.5% with no retainer, 90-day term, 30-day protection period. The listing agreement offers a 2.5% concession to the buyer's broker.

If the same buyer had signed a BBA at 3.0% but the seller had offered only 2.0%, the buyer would owe 6,000 USD directly at closing to make up the 1.0% gap. This is the post-2024 reality that Canadian buyers must budget around explicitly.

Section 06Quebec to Florida comparison

The reference province is Quebec, where buyer-mandate contracts have been required by OACIQ for years. Equivalent comparisons for Ontario, British Columbia, and Alberta are forthcoming.

Section 07How a Canadian buyer should negotiate the BBA

Florida Realtors states explicitly that the BBA is negotiable [8]. The agent's first proposal is a starting position, not a fixed rate. Five terms in particular are worth attention.

The first is the duration. A Canadian buyer who is exploring Florida for the first time should consider a Showing Agreement (single property or short window) before committing to a 90-day or six-month exclusive. The Showing Agreement covers the immediate tour without locking in compensation across many properties.

The second is the compensation rate. The 2.5% to 3.0% range is customary for full-service representation. A buyer who knows the market, has identified a target property, and only needs the agent for contract and closing assistance can negotiate 1.5% to 2.0% with a Florida broker willing to discount.

The third is the retainer. The revised 2024 forms make the retainer non-refundable and additive to compensation. A Canadian buyer should treat any retainer above 500 USD as a negotiable item and ask for it to be waived or credited against the broker fee at closing if a property is acquired.

The fourth is the protection period. The default 30 days is standard but can be negotiated down to 14 days or up to 90 days. The shorter the period, the less risk that the agent collects on a property the buyer eventually buys without their continued help.

The fifth is the agency relationship itself. Most Florida brokerages default to EBBA-8tb (Transaction Broker). A Canadian buyer who wants undivided loyalty should ask explicitly for EBBA-8sa (Single Agent) and confirm the brokerage will accept that designation. Some brokerages (those that frequently handle in-house deals) will resist; this is a useful filter.

Section 08Common mistakes Canadian buyers make

The first mistake is signing the first BBA put in front of them without reading it. Florida brokerages now ask for the BBA at the start of the relationship, often via DocuSign before any property is shown. Take the time to read it. The four-page document determines four to twelve months of legal relationship and compensation obligations.

The second mistake is conflating the BBA with the FAR/BAR purchase contract. They are separate documents with separate functions. The BBA governs the relationship between buyer and agent. The FAR/BAR contract governs the relationship between buyer and seller.

The third mistake is assuming the seller will always cover the buyer-side compensation. In 2026 Florida, most sellers still do, but no rule requires it. The buyer must read the listing concession at offer time and confirm that the seller's offer covers the BBA cap before signing the offer.

The fourth mistake is signing an exclusive BBA before deciding which agent to work with. A Canadian buyer who is interviewing two or three Florida agents can use the Showing Agreement (single property, single tour) for each, then sign an exclusive EBBA only with the chosen agent.

The fifth mistake is ignoring the agency variant. Single agent and transaction broker provide different fiduciary protection. Most brokerages default to transaction broker because it is administratively simpler. Most Canadian buyers, given the choice, would pick single agent. The choice exists, but it has to be made explicitly in writing.

The sixth mistake is overlooking the retainer. The revised 2024 forms made it non-refundable and additive. A 500 USD retainer is not material on a 600,000 USD purchase, but a 5,000 USD retainer is, and Canadian buyers signing in haste sometimes miss it.

The seventh mistake is assuming the OACIQ contrat de courtage achat experience translates one-to-one to Florida. The structures are similar but not identical. The Florida BBA caps broker compensation differently, has four agency variants, and uses a 30-day protection period by default. Confirming term-by-term protects against costly assumptions.

Section 09Decision checklist before signing

Work through these eight steps before signing any Florida BBA.

1. Identify the form you are being asked to sign. Confirm it is one of EBBA-8sa, EBBA-8tb, EBBA-8tn, EBBA-8nr, or the SA-5 Showing Agreement. If it is a custom brokerage form, ask why.
2. Confirm the agency relationship. Single agent (EBBA-8sa) provides the strongest fiduciary duty. Default Florida posture is transaction broker.
3. Read the term. A first-time Canadian buyer should consider the Showing Agreement or a 30 to 60-day EBBA before a longer exclusive.
4. Read the compensation clause. Confirm the percentage or flat fee, confirm there is no separate retainer, confirm the BBA cap is consistent with what most Florida sellers offer in your target market (2.5% to 3.0% in 2026).
5. Read the protection period. The 30-day default is standard. Below 14 days is unusual; above 60 days unusually friendly to the broker.
6. Confirm dispute resolution. Mediation first; binding arbitration only if both parties initial it.
7. Cross-check with your purchase budget. If the seller's concession in your target listing is less than the BBA cap, plan for the gap in cash at closing.
8. If anything is unclear, send the BBA to a Florida-licensed real estate attorney before signing. A 30-minute review typically costs 200 to 400 USD and prevents seven-figure misunderstandings.

Section 10Frequently asked questions

Do I have to sign a BBA before any tour? Yes, since August 17, 2024, if the agent is working with you and you are physically entering a home or attending a live-virtual tour. Open houses where the agent represents the seller and listing agents showing to unrepresented buyers do not trigger the requirement.

Can I sign a BBA for a single property? Yes. The Showing Agreement (form SA-5) is a Florida Realtors form for exactly this case. It commits the agent to show one property without binding the buyer to an exclusive multi-month relationship.

Is the BBA exclusive? The four Florida Realtors EBBA forms are all titled "Exclusive". Brokers may write non-exclusive BBAs but the published Florida Realtors templates are exclusive only. Read the exclusivity clause carefully; it typically forbids the buyer from working with another agent or buying directly from a listing agent during the term.

Can I cancel the BBA early? Under the revised 2024 forms, early termination is permitted with specific cancellation fees ("Conditional Termination" clause). Read this clause before signing. Cancellation fees can range from a flat administrative amount to several thousand USD.

What if the seller offers the buyer's agent more than my BBA cap? The agent collects up to the BBA cap. Excess goes to the listing brokerage or the seller, depending on the listing agreement. The buyer cannot capture the difference.

What if the seller offers less than my BBA cap? The buyer pays the difference at closing. This is the post-2024 reality Canadian buyers must budget for. Either renegotiate the BBA downward before offer time, or walk away, or pay the gap.

Is the BBA the same as the OACIQ contrat de courtage achat? Structurally similar, not identical. Both fix compensation, term, exclusivity, and broker duties in writing. The Florida BBA differs in agency variants (four forms, including single agent and transaction broker), retainer treatment (non-refundable, additive), default protection period (30 days), and the post-NAR-settlement compensation cap mechanic.

Does the BBA apply to commercial or rental property? No. The Stellar MLS rule and the NAR settlement apply to residential one-to-four-unit dwellings only. Commercial transactions, raw land, and rental representation use different brokerage agreements.

Can I avoid the BBA by going directly to the listing agent? Yes, but the listing agent then represents the seller, not you. The default Florida agency posture there is transaction brokerage with limited fiduciary duty, not single-agent representation. For a Canadian buyer with no other Florida advisor, this approach is high-risk.

Does the BBA cap include the retainer? No. The revised 2024 forms removed the option to credit retainer against compensation. The retainer is paid up front and the BBA-capped commission is paid at closing, on top.