What The Nar Settlement Means For Open Houses

The NAR settlement taking effect in August 2024 is changing how real estate agents run open houses. Learn what these new rules mean for buyer representation, lead capture, disclosures, and how agents can turn open houses into powerful tools for growth and compliance.

Written by Seth Cox

Apr 19, 2025 / Open House Guidelines

The National Association of Realtors (NAR) settlement, going into effect on August 17, 2024, is reshaping the way real estate agents handle open houses. While much of the media coverage has focused on changes to buyer agent compensation and MLS practices, the implications for open houses are just as critical—especially for agents looking to grow their pipeline and connect with unrepresented buyers.

Here’s how the new rules are changing the game—and what agents need to do to stay compliant and competitive.

Open Houses Are Now a Gateway for Buyer Exploration

Under the new NAR rules, buyers must sign a written representation agreement before touring homes with an agent. But open houses are the exception. That makes them more important than ever.

According to sources like Apartment Therapy and Curb Hero, buyers who aren’t yet ready to commit to an agent may rely on open houses as a no-pressure way to explore properties. This shift creates a strategic opportunity for listing agents to attract and engage unrepresented buyers, while showcasing both the property and their personal brand.

Open houses provide a rare no-commitment option for curious buyers
Listing agents can introduce themselves to buyers not yet represented
Unrepresented buyers may be more open to representation after an open house

Transparency and Disclosure Are Non-Negotiable

With new rules comes a stronger emphasis on clear communication and upfront disclosures. Agents hosting open houses must be transparent about their role and their compensation.

This includes:

Disclosing that they represent the seller, not the buyer
Being ready to explain how commission structures work
Clarifying buyer costs and options if a visitor requests representation

The goal is to empower buyers to make informed decisions, while keeping agents compliant with the new NAR requirements.

Transparency and Disclosure Are Non-Negotiable

New Forms Buyers Might Encounter

Don’t be surprised if your open house visitors start seeing new paperwork.

To ensure clarity around representation, many brokerages are introducing new forms such as:

Open House Visitor Non-Agency Disclosure Form: States that the agent represents the seller
Limited Property Representation Agreement: For buyers who want more information without full representation
Exclusive Buyer Representation Agreement: For buyers ready to commit to an agent relationship

The exact forms and language will vary by state and brokerage, but the underlying goal is consistency and legal clarity.

A Natural Venue for Buyer-Agent Conversations

Open houses also offer a natural opportunity to educate buyers on representation agreements and what they really mean.

For example, you can:

Explain the difference between limited and full representation
Break down how you charge (percentage, flat fee, hourly)
Help buyers understand how they’re protected when working with a buyer’s agent

By introducing these topics in a relaxed, informative way, agents can start building trust with prospective clients before any paperwork is signed.

Expect (Some) Increased Foot Traffic

While it’s too early to quantify the long-term impact, there’s a real possibility that more unrepresented buyers will start attending open houses simply because they’re hesitant to sign a buyer agreement upfront.

This means:

You’ll want to be extra prepared for drop-in visitors
Your sign-in process needs to be frictionless and reliable
Follow-up matters more than ever

If you're using a digital sign-in tool like Showable, this becomes a prime opportunity to capture quality leads without interrupting the open house experience.

Lead Capture and Follow-Up Take Center Stage

In the new landscape, lead capture isn’t optional—it’s the foundation of success.

Every open house should include:

A clear call to action to sign in
A follow-up plan to re-engage interested visitors
Educational emails or texts that explain buyer representation and next steps

Whether the visitor is a future buyer or a potential seller scoping out your marketing style, the follow-up is where real conversions happen.

Open Houses Are Also a Listing Opportunity

Don’t forget: open houses are more than just a buyer strategy—they’re a powerful listing tool.

In today’s market, hosting an open house under the new rules allows you to:

Show off your marketing process to prospective sellers
Demonstrate transparency and compliance
Build your brand in the neighborhood

Agents who lean into this dual opportunity—buyers and sellers—will be well-positioned to grow their business even in a rapidly changing market.

Final Thoughts: Open Houses Are More Important Than Ever

The NAR settlement marks a significant shift in the real estate industry, especially when it comes to buyer representation. But far from making things more difficult, these changes create new opportunities—particularly for agents who know how to leverage open houses strategically.

With proper disclosures, thoughtful conversations, and smart lead capture tools, agents can turn open houses into one of their most powerful marketing channels.

Looking to make the most of your open houses?