Has the NAR Settlement Changed the Importance of Open Houses? Absolutely.
In the wake of the recent settlement involving the National Association of Realtors (NAR), the real estate landscape has undergone a significant shift, especially when it comes to how buyers can view properties. Before this settlement, home buyers could casually see homes without any formal commitment. It was common to request a tour with a buyer’s agent or the listing agent without needing to sign a contract or make any binding decisions. Open houses were just one of the options available, but not necessarily the only convenient one.
However, the settlement has changed the rules of the game. Open houses have suddenly become more crucial than ever because they now provide one of the only hassle-free ways to legally view a home. Here’s why:
The Old Way: Easy Access to Listings
Before the settlement, buyers had options. They could attend an open house, or simply reach out to any agent—buyer’s or listing—who would typically offer to show the home without requiring any formal agreement. The process was flexible, allowing buyers to keep their options open while exploring different properties.
The New Rules: Limited Viewing Options
Now, thanks to the NAR settlement, viewing homes has become more structured. You can still see a home through an open house, but if you want a private showing, the process is more formal. To view a property outside of an open house, you’ll either need to:
- Sign an agreement with a buyer’s agent: This legally binds you to work with that agent if you’re serious about making offers.
- Directly contact the listing agent: If you’re not ready to sign a buyer’s agent agreement, you can request a showing from the listing agent, but it’s no longer as casual or flexible.
This means that open houses have become a critical option for buyers who want to see a property without jumping through additional legal hoops. In an open house, you can still walk through a home at your own pace, ask questions, and get a feel for the property—all without signing a formal buyer-agent agreement.
Why Open Houses Matter More Now
The open house is now more than just a weekend activity for curious buyers or neighbors. It has become one of the few ways to view a home without making a legal commitment. For buyers who want to take their time, weigh their options, or aren’t yet ready to sign with an agent, open houses provide a legal and practical path forward.
Snapdoor holds at least two open houses in the first two weekends that a house goes on the market. This allows for maximum exposure of your home to potential buyers, who may not have an agent or don’t want to bother their agent. Roughly 80% of the buyers who will view your home, will do so in the first two weeks of it being listed. Snapdoor is fully committed to showing your home to as many buyers as possible, and open houses are critical.
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