A buyer touring open houses without a buyer representation agreement:
Question & Answer
Review the question and all answer choices
Can still claim the listing agent as their representative
A is incorrect because the listing agent owes fiduciary duties to the seller, not the buyer. Without a buyer representation agreement, the listing agent cannot and will not represent the buyer's interests.
Is likely being shown the property by the listing agent or seller
Automatically has representation from NAR
C is incorrect because NAR does not automatically provide representation to buyers. Representation must be established through a formal agreement with a real estate professional.
Must sign an agreement before entering the property
D is incorrect because buyers are not required to sign an agreement before entering an open house. While they must be disclosed agency relationships, they can tour properties without formal agreements.
Why is this correct?
Option B is correct because open houses are typically hosted by the listing agent or seller, who both represent the seller's interests. Without a buyer representation agreement, the buyer has no dedicated representation in this scenario and is being shown the property by someone who owes fiduciary duties to the seller.
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