Written Buyer Agreements and Open Houses

You waited for interest rates to go down. You put the kids in bunkbeds to make room for the nursery, or turned the extra bedroom into a craft room. Maybe you decided to pay rent until your job became more certain. Finally, you decided you can’t wait any longer; you’ve got to upsize, downsize, or buy your first home. What’s next?

For most people, it means starting to look online at homes for sale. Open house signs you used to drive past are now a welcome chance to see the inside of a home in your desired neighborhood without having to call a Realtor and make an appointment. Do you need to sign a Buyer Agreement with the Realtor that is hosting the open house?

The National Association of Realtors (NAR) has issued consumer guides to answer these questions:

I am attending an open house without an agent. Do I need a written buyer agreement in order to tour the home? No. If you are simply visiting an open house on your own or asking a real estate professional about their services, you do not need to sign a written buyer agreement.

Is an agent who is hosting an open house required to enter into written agreements with the potential buyers who attend the open house? No. In this case, since the agent is only there at the direction of the listing broker or seller, the agent is not required to have a written agreement with the buyers touring the home.

When will I be asked to sign an agreement with an agent? After you begin “working with” an agent and at any point before you tour your first house together. What does “working with” an agent mean? A buyer is “working with” an agent as soon as the agent begins to provide services, such as identifying potential properties and arranging tours. Agents who are simply marketing their services or speaking to a buyer—at an open house or by providing a buyer access to a house they have listed—are not considered to be working with the buyer.

Does this mean I have to pay my real estate professional out of pocket? Not necessarily. While you are responsible for paying your real estate professional as outlined by your agreement, you can still request, negotiate for, and receive compensation for your real estate professional from the seller or their agent.

Make sure you have trusted people in your network as you buy and sell real estate. We’re honored to have earned that trust from many of the best Realtors and lenders in Clark County and their clients. Everyone benefits from the care, knowledge and expertise we bring to your important transaction. Best wishes and happy house hunting!

From your friends at Clark County Title,
Scott