Here’s what you should know – rules have changed since the NAR settlement went into effect on August 17, 2024:

Do I Need a Written Buyer Agreement for Open Houses?
No. You can visit open houses and inquire about agent services without signing a buyer representation contract.

Must Open House Agents Have Written Agreements with Visitors?
No. The hosting agent represents the seller/listing broker and needs no written agreement with buyers.

When Do I Sign a Buyer Representation Contract?
You’ll sign once you begin working with an agent and before touring your first property together.

What Is “Working With” an Agent?
An agent is working with you when they provide services like identifying properties or arranging tours. Simply marketing services or providing access to their listings doesn’t qualify.

What Counts as a “Tour”?
A tour occurs when you or your agent enters a property for sale, including live virtual tours conducted by the agent.

Why Have Written Buyer Representation Contracts?
These agreements clarify services and compensation. Don’t sign if you don’t understand or agree with the terms. All agreements are negotiable.

Where Can I Learn More?
Visit the National Association of Realtors (NAR) website.