New rules mean more transparency and better protection for buyers
View This Weekend's Open HousesAfter the August 2024 NAR settlement, several rules changed how open houses and buyer representation work. Here's what you need to know in plain language.
Three types of forms you may encounter:
Important: Open houses remain exempt from the requirement to sign a buyer agreement before viewing. You do not have to commit to an agent just to walk through an open house. That's a key advantage of attending open houses instead of private showings.
You can still freely attend Summerlin open houses. You'll typically be asked to sign in (digital or paper) for security and follow-up. The agent at the open house represents the seller, not you.
Having your own buyer's agent gives you dedicated representation, negotiation help, and access to off-market opportunities. Dr. Jan Duffy can serve as your exclusive buyer's agent while you explore homes in Summerlin neighborhoods like The Ridges and Red Rock Country Club.
Questions? Contact Dr. Jan Duffy for a no-pressure conversation about how the new rules affect your home search.
A:No. You can attend open houses without an agent. Having your own buyer's agent, however, protects your interests: they represent you in negotiations, help you understand forms and disclosures, and can give you access to off-market opportunities. Dr. Jan Duffy can serve as your exclusive buyer's agent while you explore Summerlin open houses.
A:It depends on the relationship you want with the agent at the open house. You may see: (1) an Open House Visitor Non-Agency Disclosure acknowledging the listing agent represents the seller; (2) a Limited Property Representation Agreement if you want the agent to share property details for a limited time (e.g. up to 30 days); or (3) a Full Exclusive Buyer Representation Agreement if you want that agent to represent you formally. You are not required to sign a buyer agreement just to walk through an open house.
A:After the August 2024 NAR settlement, buyer broker compensation is no longer displayed on the MLS. Compensation is now negotiated directly between you and your buyer's agent. Discuss fees and services with your agent upfront. Dr. Jan Duffy can explain how representation and compensation work for buyers in the Summerlin market.
A:Yes. Open houses are the easiest way to tour homes without committing to an agent. They remain exempt from the rule that requires a signed buyer agreement before viewing a home in a private showing. You can visit as many open houses as you like, sign in at each, and only formalize representation when you're ready.
A:Dr. Jan Duffy brings local expertise in Summerlin West, certification as a luxury specialist, and a research-driven approach to every client. She helps buyers navigate the new disclosure and compensation landscape, negotiate confidently, and find the right home in neighborhoods like The Ridges, Red Rock Country Club, and Summerlin Centre.
Schedule a free consultation with Dr. Jan Duffy and we'll send you the Open House Touring Guide. Choose a time below—no form required.
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