Last Saturday Mr. Fuzzy & his wife Roz attended an area open house that Betty Bookmark was hosting for her sellers. The house was perfect for the Fuzzy's. In fact, his wife sat on the floor and said, "I'm not moving until you put in an offer!" Mr. Fuzzy was anxious to get the process started, but very quickly learned that the "home was already under contract." It was then that Betty offered to show the Fuzzy's other homes in the area. She even guaranteed them a home warranty with their purchase along with an opportunity to win a cruise with her her brokerage.
Disgustred the Fuzzy's left. They felt like they wasted their time, effort and emotional energy, and Roz was embarrassed that she sat on the floor.
To this day Betty scoffs at any complaints she receives. She feels since she tells people when they walk in that no misrepresentation of "any kind" is being had. I tend to disagree. If you're going to hold an open house and "advertise it" then it should be promoted as "an open house that is under contract."
Our MLS has a place where we can promote our open houses on the MLS page. An agent should also disclose under the remarks section that the home is under contract. Additionally, the open house signs should be revised. Is this too extreme? What do you think is fair, and why?
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