Do You Need a Buyer's Agent to Visit an Open House? A 2024 Guide

Visiting open houses does not require a signed agreement with a buyer's agent. However, once you begin formally touring homes, a written buyer's agent agreement is required to protect both you and the agent. This contract clarifies services, compensation, and expectations, a practice reinforced by recent industry changes. For serious buyers, securing professional representation before making an offer is a critical step.

What is a Buyer's Agent Agreement?

A buyer's agent agreement is a legally binding contract between a homebuyer and a real estate agent that outlines the terms of their professional relationship. This document specifies the agent’s duties, the duration of the agreement, and, crucially, how the agent will be compensated, typically through a percentage of the home’s sale price paid by the seller. Signing this contract ensures both parties have a clear understanding of their roles, preventing misunderstandings later in the process.

Do You Need an Agent to Attend an Open House?

No, you do not need a buyer's agent to visit an open house. These events are designed for drop-in visitors, whether they are serious buyers or curious neighbors. In fact, attending open houses independently can be a valuable strategy to refine your preferences for features, neighborhoods, and pricing. This firsthand experience helps you better communicate your needs when you do eventually hire an agent.

When Are You Required to Sign a Contract?

You are required to sign a buyer's agent agreement once you decide to work with an agent formally, moving beyond initial interviews or casual open house visits. This applies to both in-person and virtual home tours arranged specifically for you by the agent. The agreement solidifies the partnership. Based on our experience assessment, this formal step is essential before an agent invests significant time and resources into your home search.

As of the 2024 National Association of Realtors® settlement, these contracts have gained increased importance, ensuring transparency regarding agent compensation from the outset.

How Can You Avoid Confusion with Agents?

Misunderstandings often occur when expectations are not clearly communicated. An agent might assume they represent you after showing you a few properties, while you may still be interviewing candidates. To prevent this, be proactive. If an agent begins assisting you but hasn’t asked about your situation, clearly state your position. A direct approach, such as saying, "I am currently interviewing agents and will let you know if I decide to work with you," maintains control of your search.

What Are the Risks of Touring Homes Without an Agent?

While touring homes alone is feasible, especially at open houses, it requires caution. The agent hosting an open house represents the seller’s interests. Sharing too much information about your budget or motivation could inadvertently weaken your negotiating position later. Having your own buyer's agent ensures your interests are protected during negotiations and the complex closing process.

Touring on your own is an excellent first step, but when you are ready to make an offer, having an expert advocate is invaluable. A signed agreement formalizes this relationship, creating a win-win scenario where the agent is committed to achieving the best outcome for you.