by Patricia Feager, 8/13/2018
The following information is for consumers in Texas.
THE LISTING AGENT
Many people love to visit an Open House. When the agent greets a prospective buyer at an Open House, rather than say, "I'm just getting started or just looking," I would recommend one ask, "Are you the Listing Agent?"
THE ROLE OF THE LISTING AGENT
Knowing upfront who is holding the open house, consumers need to know that a Listing Agent represents and works for the seller to sell their house. They are privy to confidential information that should not be divulged unless the seller specifically wants them to reveal information. Circumstances like that are very, very rare. Some agents may say, they can be an Intermediary, representing both sides. However, there are rules about intermediary relationships. Stay tuned for Part II.
WHAT SHOULD YOU EXPECT?
- Listing Agent should explain representation as described in Brokerage Information
- General knowledge about the house disclosed in the MLS
- General knowledge about the neighborhood, i.e., HOA, neighborhood parks, schools, etc.
- A friendly demeanor, a professional who is willing to share general information
- Unique features about the house other agents may not know, i.e., hidden closets
- The difference between flooring in the Seller's house, i.e., Wood versus Laminate
WHAT SHOULDN'T YOU EXPECT?
- How low with a Seller go to sell their house?
- Confidential information about the Sellers and why they are moving.
- Disclosure papers about the property unless your Buyer's Rep asks
- " " " unless you're a qualified Cash Buyer with Proof
- Buyers should not expect to climb into the attic, roof, or anywhere they please.
A prospective buyer at an Open House should understand who the agent represents, respect other people's property, and know what questions to ask and options they have if they want to buy either the seller's property or another property. Having the right representation and knowing what to expect at an Open House makes your experience more worthwhile. If you have any questions, please let me know.
Patricia
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