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This is the buyer information sheet from NAR. We will be able to have open houses without the form signed for touring an open house. However to answer specific questions and price negotiations we will have to have a form signed. No REALTOR will be able to show you a home without a from signed. It does not ask for financial information.


NATIONAL
ASSOCIATION OF
REALTORS®
HOMEBUYERS:
HERE'S WHAT THE NAR SETTLEMENT MEANS FOR YOU
Buying a home is one of the largest financial transactions most people will ever undertake. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate your homebuying journey and make the choices that work best for you. NAR's recent settlement has led to several changes that benefit homebuyers, and we wanted to clearly lay them out for you.
Here is what the settlement means for homebuyers:
• You will sign a written agreement with your agent before touring a home.
• Before signing this agreement, you should ensure it reflects the terms you have negotiated with your agent and that you understand exactly what services and value will be provided, and for how much.
• The buyer agreement must include four components concerning compensation:
a. A specific and conspicuous disclosure of the amount or rate of compensation the real estate agent will receive or how this amount will be determined.
b. Compensation that is objective (e.g., $0, X flat fee, X percent, X hourly rate)-and not open-ended (e.g., cannot be "buyer broker compensation shall be whatever the amount the seller is offering to the buyer").
c. A term that prohibits the agent from receiving compensation for brokerage services from any source that exceeds the amount or rate agreed to in the agreement with the buyer, and,
d. A conspicuous statement that broker fees and commissions are fully negotiable and not set by law.
• Written agreements apply to both in-person and live virtual home tours.
• You do not need a written agreement if you are just speaking to an agent at an open house or asking them about their services.
• The seller may agree to offer compensation to your agent. This practice is permitted but the offer cannot be shared on a Multiple Listing Service (MLS) — MLSs are local marketplaces used by both buyer brokers and listing brokers to share information about properties for sale.
REALTORS are members of the National Association of REALTORS"