Open House Disclosures and Forms

While required Open House disclosures have been commonplace for agents in some states, the National Association of Realtors (NAR) commission settlement is starting conversations around additional Open House disclosures being implemented.

This shift underscores the need for all real estate agents across the country, to be knowledgeable and proactive about modifications in their business especially when doing Open Houses and engaging with prospects that visited Open Houses. We’ll be covering this below and will regularly update this page as guidance evolves.

Here are the key areas we’ll cover related to Open House Disclosures:

• The NAR commission settlement related to Open Houses
• California Association of REALTORS guidelines – OHNA-SI
• New Jersey’s CIS Open House Disclosures
• Illinois Notice of No Agency Open House Disclosure
• Texas Real Estate Commission’s Information About Brokerage Services form at Open Houses
• New York’s Open House Disclosures
• Maryland Open House Disclosure
• Massachusetts Open House Disclosure Process

The NAR commission settlement related to Open Houses

The settlement largely focuses on buyer agent commissions, a facet that greatly impacts the real estate industry. While there are a number of changes agents need to follow coming out of the commission settlement, this ruling doesn’t enforce new requirements specific to Open House disclosures…and as of now, NAR hasn’t added specific guidance for members’ Open Houses activities.

This lack of guidance, has been interpreted as follows: agents hosting an Open House on behalf of the seller, can provide an unrepresented buyer access to a property and won’t be required to obtain a Buyer’s Broker Agreement. (Note: if the conversation between the agent and Open House visitor shifts from the agent representing the seller towards the agent providing buyer representation, then the new requirements regarding a buyer broker agreement need to be observed)

State Specific Open House Disclosures

While NAR hasn’t issued Open House specific guidance related to the commissions settlement, REALTOR associations in specific states are planning/making changes specific to Open Houses, which will be covered below.

We’ll also get into the Open House disclosures that pre-date the NAR settlement in different states.

Curb Hero can support the Open House and Agency Disclosures mentioned below as well as more. And if you’re not sure if your region or broker’s forms will be supported you can submit a request/inquiry here.

If you’re not yet a Curb Hero user, check it out (it’s free for individual agents).

Below we’ll get into Open House disclosures by state but also keep in mind that there are many states that focus more on Agency disclosures at “first contact” or “first substantive contact” with a prospect (irrespective of whether it’s at an Open House or not). See this article on first substantive contact for details and the state by state rules.

California Association of REALTORS Open House Disclosures

The California Association of REALTORS® (CAR) have been the first association to incorporate additional disclosures coming out of the commissions settlement. The Open House disclosures introduced are the OHNA-SI and PSRA. The OHNA-SI (or OHNA) form will go into effect for all Open House visitors on August 17, 2024 and serves as a lightweight disclosure for visitors to fill out (much like an Open House registry). The PSRA covers the case where agents at a showing (or hosting an Open House) may provide buyers agent services and serves as a formal agreement which even includes buyers agent compensation.

NOTE: For our partner teams and brokerages, Curb Hero will be supporting disclosures like these…providing a streamlined process to get visitor’s info both adhering to these new requirements and optimizing Open House prospecting.

New Jersey (NJAR) Open House Disclosure

New Jersey has a couple disclosures that are part of the Open House process:

• Open House Disclosure Sign: Listing agents will be required to post this sign clearly stating that they represent the seller. Placement is recommended either at the entrance or sign-in sheet (we support this digitally) for all attendees to see.

• Consumer Information Statement (CIS) is another disclosure intended to be completed prior to the first discussion of financial matters or the motivation for buying or selling (usually at the time of the first meeting). It explains the various forms of agency and specifically the agent’s relationship to the seller. Unlike California’s OHNA-SI, the CIS has a space for each visitor to sign the document AND it also covers tenants and leases.

Illinois Notice of No Agency Open House Disclosure

While Illinois has had a Notice of No Agency form for years, it’s now being adopted at Open Houses in response to the NAR Settlement.

The Notice of No Agency form states that the person receiving the form is not considered the agent’s client and the agent does not owe them fiduciary duties.

And given the NAR Settlement, Chicago Association of REALTORS has made it clear that it is crucial to disclose this non-agency relationship in writing at the earliest opportunity and they include an Open House as one of these opportunities.

This disclosure helps prevent the consumer from mistakenly sharing confidential information with you. For example, as a seller’s agent, you might provide a No Agency Notice to an unrepresented buyer at an open house or during a private showing.

Texas Real Estate Commission’s Information About Brokerage Services form at Open Houses

The Texas Real Estate Commission’s (TREC) Information About Brokerage Services (IABS) form is a disclosure that provides consumers with essential information about the types of brokerage relationships available in Texas.

This form, which predates the NAR settlement, outlines the roles and duties of different types of real estate agents, including seller’s agents, buyer’s agents, and intermediary relationships where the broker represents both parties. The IABS is designed to ensure that consumers are fully informed about their rights and the services they can expect when working with a real estate professional. It also clarifies that the consumer has the option to choose their representation and understand the implications of each type of agency relationship before entering into any real estate transaction.

The form is meant to be presented to prospective clients at “first meaningful contact” and while it has a signature field, a signature isn’t absolutely required IF an agent can prove that the prospective client has viewed the form. This can be done via an email reply or another explicit confirmation.

Curb Hero is able to support the Information About Brokerage Services (IABS) form within our Open House sign-in.

New York’s Open House Disclosures

New York (NYS) has had a fairly comprehensive set of disclosures designed to protect and inform, sellers, buyers, tenants and landlords. All of which predate the NAR settlement. For the most part, these disclosures must be provided at the “first substantive contact,”—a standard that includes merely entering an Open House. Here’s a list of the disclosures (note that not all must be presented at every property):

1. NYS Agency Disclosure form (aka Buyer & Seller Disclosure)
2. Fair Housing Disclosure
3. Housing Discrimination Disclosure
4. Landlord & Tenant Disclosure

Believe it or not, there are more documents that may be required depending on the specific circumstances.

Maryland Open House Disclosure

Maryland is another state that’s had a Open House disclosure that predates the commissions settlement but it’s simply a sign that needs to be posted at an Open House. Here’s a printable version of the disclosure which can be downloaded OR included in the Curb Hero digital sign-in.

Massachusetts Open House Disclosure Process

Likewise, Massachusetts has required agents to explicitly disclose their relationship with the seller in print but a specific form isn’t needed just to enter the Open House. However if a buyer chooses to make an offer on the property, the licensee is required to present the disclosure form prior to writing up the offer.

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In summation, Open House disclosures are nothing new for agents in some states, but NAR settlement is already starting to evolve disclosure requirements at Open Houses in some states.

The good news is that adhering to these requirements is incorporated in Curb Hero’s platform.