I recently heard in my office a discussion about open houses. One agent mentioned that when he needed one, he would call a top agent from another company who works the area and hold one open for him. He's got so many, the agent said, he can't hold them all open this weekend.
Another agent piped up and said, I have had agents call me from smaller companys asking if they could hold one of my listings open. If I am not holding it open myself, I always let them.
Let's think through this. An agent is liable for any misrepresentations that the seller tells them. A seller is liable for any mistakes or misrepresentations that an agent working for them makes. So how would liability work if the agent holding the house open picks up a buyer. Are they a dual agent? Isn't the open house person holding the house open and representing the Seller, even if they are with a different firm?And, if you are a dual agent, what company logo goes on your flyer.
I am not sure of the answer but I can tell you in my legal work as an expert in litigation cases, I think that a case could be made that the agent holding the house open is representing the seller, thus is taking on liability for the seller and the house, which they know NOTHING about. Can't you just imagine a seller during the trial (I love to say that), testifying that he never met the agent holding the house open and he couldn't imagine wherre the agent got the information that he told to the buyer.
Also, I thinka case could be made to drag the open house agent into a case if he passed along the wrong information to a buyer.
All in all, sometimes the best of intentions can have negative consequences. Before you do this, have your broker run this by your company attorney.
And remember, agency created, even if a contract never gets written the minute you start sharing information.