Posts

Open Houses & Written Agreements: What You Need to Know

/in /by

When you begin working with a REALTOR® and touring homes, you will be asked to sign a written buyer agreement. But what if you are just attending an open house? Here’s what you should know:

I am attending an open house without a REALTOR®. Do I need a written buyer agreement in order to tour the home?

No. If you are simply visiting an open house on your own or asking a REALTOR® about their services, you do not need to sign a written buyer agreement.

Is a REALTOR® who is hosting an open house required to enter into written agreements with the potential buyers who attend the open house?

No. In this case, since the REALTOR® is only there at the direction of the listing broker or seller, the REALTOR® is not required to have a written agreement with the buyers touring the home.

When will I be asked to sign an agreement with a REALTOR®?

After you begin “working with” a REALTOR® and at any point before you tour your first house together.

What does “working with” a REALTOR® mean?

A buyer is “working with” a REALTOR® as soon as the REALTOR® begins to provide services, such as identifying potential properties and arranging tours. REALTORS® who are simply marketing their services or speaking to a buyer—at an open house or by providing a buyer access to a house they have listed—are not considered to be working with the buyer.

What does it mean to “tour” a home?

Under the terms of the settlement, a “tour” is when a buyer who is working with a REALTOR® enters a home that is for sale or directs their REALTOR® to enter the home on their behalf. This includes when the buyer’s agent provides a live, virtual tour to a buyer not physically present.

What is the purpose of written buyer agreements?

Clarity and transparency. Written buyer agreements lay out the services your REALTOR® will provide and what they will be paid. Buyers should not sign anything that includes terms they do not agree with or do not understand. These agreements are fully negotiable.

Where can I learn more about buyer agreements?

Click here for everything you need to know.

Make Your Open House A Success

/in , /by

So you’re selling your house, and now it’s time to show it off to buyers! Use these tips, and the help of your REALTOR®, to make a great first impression during your open house.

Make Your Home Open House Ready

Make sure your home is picture-perfect by the time your open house comes around. Here are some things we recommend you take the time to do:

  • Clean Up Clutter: Tuck away additional clutter within your home, including clothes, cleaning supplies, toys and more. If you don’t have a good location to put it all, consider renting a storage unit.
  • Make Your House Spotless: Deep clean every inch of your home, so your windows are spotless and there are no dust bunnies in sight. Don’t have the time? Hire a cleaning service. Your REALTOR® likely has some recommendations for you.
  • Consider Cosmetic Repairs: This isn’t the time to make any big changes, but if you spot chipped paint or burnt out lightbulbs, making those repairs will go a long way in making your house look great!
  • Remove Any Personal Items: When a potential buyer walks into a home, they want to be able to picture themselves in it. Seeing photos of your family and other personal items can hinder that experience, so put them away for the time being. Also, put any valuables in a secure location, just in case.

Get The Word Out

Although your REALTOR® will do a lot of heavy lifting on this front, it doesn’t hurt to give them a hand. Add posts to your social media platforms, such as neighborhood groups, if you’re part of them, to get the word out. Or, if you frequent a local coffee shop or popular store with a bulletin board, don’t be afraid to go “old school” with a flyer.

Also, work with your REALTOR® on a few different aspects of the open house, such as:

  • Setting up yard signs to announce the open house. If you live in a winding neighborhood or subdivision, put signs around the neighborhood to direct visitors to the right location.
  • Add the open house information to your online listing for additional traffic.
  • Decide on the best time to host the event. Sundays are typically the most popular, and other open houses may take place between 1:00 PM to 3:00 PM. Consider starting earlier, around noon, or keep yours open later, until 4:00 PM or 5:00 PM, so you’re not competing for visitors.

Let Your REALTOR® Take the Reins

When the day comes, step back and let your REALTOR® work their magic. Make sure to leave your house (having the seller lurking around isn’t the best look), but keep your phone on you in case your REALTOR® has questions.

Afterward, debrief with them about any questions that came up or comments that were made, and discuss how to address them to get your home sold!