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65 Comments on My listing had an open house that I didn’t attend
I absolutely would have done it! We actually had an agent from a different company call us last week because she had scheduled an open house and had an emergency come up. She could get no one in her firm to help out so she called to see if someone from our office would help. She was very appreciative when one of our newer agents agreed to help. It was great experience for the agent and the seller was happy!
I would let her do it in a heartbeat. Probably it would be good to notify the seller (I can't imagine them objecting.)
Have you used "open house tours"? With that approach, you can accomplish lots of open houses in one afternoon and you wouldn't need to worry about using other agents.
It's definitely not common practice here and I think if I asked an agent from another company to hold my listing open they would look at me as if I had 2 heads. Not to mention that I think the seller would think it really odd.
Todd .. interesting .. not quite sure how I would handle this one!
Todd...when a post has 49 comments, I usually just scan a few, and then post my comments. But I found this topic of GREAT interest, so I read EVERY comment. And I did that, because now, I'm kinda confused. Such that, I'll be calling our attorney tomorrow to ask this very question.
First off, I think it's great of you to offer to help an agent like that. When I first started in the business, the brokerage we were with allowed us to do this, but we had to sign an agreement (even in the same brokerage) but it covered more about referral fees and commissions. It helped me learn how to do Opens, as well as make a few contacts.
But, the more I thought about it, the more I did think about the potential problems. Even if you met with the agent, walked them through the house and talked features, you could not disclose items that were covered in your listing agreement with the Seller. And there IS the concern about what that agent may, or may not say, that could then be held against you, should something go wrong later. Charlene talked about misrepresentation. That could be covered in a signed agreement between you, the Seller and the agent....something to the effect that the Seller cannot be bound by any oral statements made by the Open House agent....but then again, maybe not?
I'm thinking you are trying to do good for your Sellers. I'm thinking you are trying to do good for another agent trying to build their business. But, then I'm thinking you could get backed in a corner later on for something you never said.
I'm going to look into the legal part of this, and will post a follow up comment as soon as I have an answer.
<<100% of nothing is nothing.>> So true. And that extends to agents whose licenses get suspended or revoked for not taking care of their clients/doing their jobs. No one is suggesting that this is about getting the buyers, and hence, both sides of the sale.--I'm thrilled with my seller's agent split. I WANT buyers agents to bring us an offer. i want ANY OFFER FROM ANY BUYER/buyer's agent. BUT
I hear too many responses on here who think it's all about selling and not about representing. too typical and is what scares me for my profession. No one, certainly not me, is suggesting that we don't do everything to sell the listing; we do, but that is not the issue. The issue is doing your job fully, representing/protecting your clients by following the rules...if you don't know the rules, then you're part of the problem. And if you think it's okay for somebody you don;t really know to represent your client, then you are part 0f the problem. I recall a recent CE class and what the state-approved instructor said was, You Owe Everything to your client. Everything. Selling their listing is fundamental, making sure that sale is legal and ethical is primary also. If you sell their property for their asking price, and then they are embroiled in a legal battle over the septic tank for... however long, what good have you done them? have you done your job? What do you think constitutes you having done your job?
I would accept the offer. It's a win for everybody involved, and I don't see any down side.
Maybe I'm stupid, but I can't even imagine an agent saying no to this.
I would probably let the agent hold the open house. I understand what Charlene was saying, but could that same agent not show the house to just one person and make the same mistake? At least if they are holding it open, you have the opportunity to have a more specific conversation about the property. I also think there should be some kind of disclosure on the handouts if and certainly any agency disclosures handed out at the open house would let people know they are not representing the seller. I think this is a win-win for both if properly done.
There are great comments on this post and I have to chime in. I don't see the problem here. I guess it comes down to agency and disclosure. First of all, this agent took the initiative to contact you about a VACANT house that was in their neighborhood. I believe neighborhood knowledge plays a very important role in selling a house. Congratulations for giving this new agent the opportunity and the exposure.
I am licensed in New York and from a purely technical standpoint, agents have an Agency Disclosure Statement signed at the first substantive meeting with the client/customer. This includes Public Open Houses. The Public Open House is the most often overlooked place for signing disclosure forms. If this practice is applied, everyone coming to the Open House will know the relationship between the agent and the homeowner. As long as the new agent is legally licensed, I think it is great that they want to take a pro-active approach to getting business.
Catherine
There are great comments on this post and I have to chime in. I don't see the problem here. I guess it comes down to agency and disclosure. First of all, this agent took the initiative to contact you about a VACANT house that was in their neighborhood. I believe neighborhood knowledge plays a very important role in selling a house. Congratulations for giving this new agent the opportunity and the exposure.
I am licensed in New York and from a purely technical standpoint, agents have an Agency Disclosure Statement signed at the first substantive meeting with the client/customer. This includes Public Open Houses. The Public Open House is the most often overlooked place for signing disclosure forms. If this practice is applied, everyone coming to the Open House will know the relationship between the agent and the homeowner. As long as the new agent is legally licensed, I think it is great that they want to take a pro-active approach to getting business.
Catherine
I would have let her do the open. She knows the neighborhood and could sell the neighborhood that she knows and obviously loves. Great way to get started! Like you say, who cares who sells it, who holds it open, etc. and long as the job gets done.
Todd, good topic, in the one hand, I appreciate the help, and if the new agent gets the buyer, I get the listing sold... on the other hand, there are some liabilities via the sellers insurance. (what if the agent gets hurt, injured, murdered... ) What type of liability does my the broker incurres if the agent makes disclosures that are not exactly right... E&O insurance will have something to say too... And on the other hand... ooops, I forgot I only have two hands! Adios!
Antonio
Todd, good topic, in the one hand, I appreciate the help, and if the new agent gets the buyer, I get the listing sold... on the other hand, there are some liabilities via the sellers insurance. (what if the agent gets hurt, injured, murdered... ) What type of liability does my the broker incurres if the agent makes disclosures that are not exactly right... E&O insurance will have something to say too... And on the other hand... ooops, I forgot I only have two hands! Adios!
Antonio
Hi Todd, In our area it is common for the more experienced (busy) agents to allow newer agents the opportunity to hold a house open. More exposure for the Seller, good for the novice and buyers agency disclosures all around! Some of us mentor the newer agents & first invite them to 'sit' an open house with us to learn the ropes.
I agree totally that the seller is wanting to sell a home and that is what he has hired you to do and if a new agent needs and has the motivation to sell a propety that is a benefit to the seller, you as the agent, and the new agent. I have done the same thing due to the many times that my husband has been transferred. It has helped me out in many hard times. As agents we are contracted to do a job and when the job is complete and satisfactory then we have a satisfied customer who may send us future business. Referrals will keep you alive in this business.
Bottom line -- it is all about doing the best job for our clients, you served your clients well by allowing another corporate agent to run an Open House... it's a no brainer... AND what comes around goes around --- its TRUE!
Richard - That is what I thought, but seeing some of the comments here, I was going to write another complete post, but decided not to.
Fran or Rowena - She has done a few open houses, it was just her company didn't have any available and she really loves the neighborhood and who better to advertise a neighborhood than someone who lives there.
Ryan - I personally don't see a different between a new agent in our office or from another office. The seller had no problem with it, he thought it was great to have a neighbor want to attract people. I see the legal problems happening if working for us or working for another company.
Robert - I look at it as more exposure! The more people looking it at the better, my buyers or not, the buyers that see it may just buy that property, I've had it happen before.
Jason - I love new agents and we were all new agents at one time. I'm guessing some feel that maybe they should have never been given their first listing because they may have made a mistake.
I wonder if there is a liability issur on letting someone from a different brokerage company holding an open house. What if something horrible happens, like the house burned down. It happened in Oregon last year when an agent left candles unattended in a wine cellar during an open house.
This is so interesting to me because i just got a similar request but it was from an experienced agent in another office that happened to live in the neighborhood of our vacant listing. After much deliberating I decided to let her do it. I think in interesting times we need to find interesting ways of doing business that may be "out of the box". I asked her what she would say to a potential buyer when they asked why she was holding open a house she didn't have listed and her response was "we are in interesting times right now and we are all trying to help each other out". Any kind of action involves some amount of risk - I think each situation needs to be dealt with individually but we need to be careful to not "risk manage" ourselves into inaaction.
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