How should I fill out Form 101 if the seller agrees to a different fee when dealing with an unrepresented buyer?
QUESTION: My firm sometimes negotiates a different listing fee when a seller goes under contract with an unrepresented buyer. Revised Form 101 (Exclusive Right to Sell Listing Agreement) now includes a separate line in section 7(b) for Firm’s Fee when the buyer is unrepresented. If the seller agrees to a different fee in this situation, should I insert the total amount our firm may earn, or should we just state the difference between the two fees?
ANSWER: You should insert the total amount of Firm’s Fee that the seller has agreed to pay if a buyer is unrepresented, rather than just the difference.
The two checkboxes you are referencing in Form 101 look like this:
These two lines are mutually exclusive. That means if one line applies, the other does not. So, you can check both lines and insert the full amount of the fee agreed to, but only one line will end up applying during the transaction. If the buyer is represented by an agent, the fee in the first highlighted checkbox will apply. If the buyer is unrepresented, then the fee in the second highlighted line will apply. Both highlighted checkboxes should state the entire fee agreed to between your firm and the seller.
Keep in mind that this new option only applies when a buyer is unrepresented. If Firm’s Fee will vary when your firm acts as a dual agent, that variation should be addressed on the “Other Fee(s)” line, in an attached schedule of fees (the last checkbox above), or later in section 20 of Form 101.
Release Date: 9/3/2026
This article is intended solely for the benefit of NC REALTORS® members, who may reproduce and distribute it to other NC REALTORS® members and their clients, provided it is reproduced in its entirety without any change to its format or content, including disclaimer and copyright notice, and provided that any such reproduction is not intended for monetary gain. Any unauthorized reproduction, use or distribution is prohibited.