Showing Property Requirements
Definition
The rules and procedures an agent must follow before showing property to a buyer, including having a signed buyer agency agreement and coordinating with the listing agent.
Example
Before scheduling a showing, Agent Patel confirms that her buyer has signed a buyer agency agreement, then contacts the listing agent to request showing access through the MLS showing management system.
Exam Tip
The key exam point: a signed buyer agreement is required BEFORE showing property, not after. Open houses attended independently by the buyer do NOT require an agreement, but if an agent accompanies the buyer, one is needed.
Related Buyer Rep Terms
Buyer Broker Duties
The fiduciary obligations a buyer's agent owes to their client, including loyalty, obedience, disclosure, confidentiality, accounting, and reasonable care.
Buyer Representation Disclosure
A form that explains to the buyer the types of agency relationships available and the duties associated with each, required to be provided before substantive discussions begin.
Cooperative Compensation
The practice of a listing broker sharing commission with a buyer's broker, historically offered through the MLS but now prohibited from MLS display under the 2024 NAR settlement.
Buyer Consultation
An initial meeting between a buyer and agent to discuss the buyer's needs, explain agency relationships, review representation agreements, and establish expectations for the home-buying process.
Buyer Loyalty Obligation
The duty of a buyer's agent to act solely in the buyer's best interest, avoiding any conflicts of interest and putting the buyer's needs above the agent's own financial interests.
Termination of Buyer Agency Agreement
The legal ending of a buyer representation agreement, which can occur through expiration, mutual consent, breach, or specific termination provisions outlined in the contract.
Frequently Asked Questions
Test Your Buyer Rep Knowledge
Practice with exam-style questions to make sure you can apply Showing Property Requirements and other buyer rep concepts.