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Open Houses

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LIF Infant

Member since 8/11

135 total posts

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Open Houses

What should I expect at an open house? Preferably for a co-op?

Posted 4/22/14 8:27 PM
 
Prudential Douglas Elliman Real Estate
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Jenhos
Maeve

Member since 6/05

3273 total posts

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Re: Open Houses

Going to one or having one?

Going you will be asked to sign-in and then you look around.

Open Houses are more for the realtor to find new clients. Most house sales are done by private showings. With that said I found my current house by going to an open house.

Posted 4/23/14 9:22 AM
 

Christine Braun - Signature Premier Properties
LIFamilies Business

Member since 2/11

3992 total posts

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Re: Open Houses

Yes, if you are a buyer going to an open house, you should be prepared that the listing agent (or an agent or agents from the listing agent's office) will be there. You will need to sign in and be prepared to give some contact information (a phone number, email).

The agent you meet at the open house may follow up with you to get feedback on the co-op or house (what you thought of the property, the price, etc.) -- I always try to get feedback for my seller clients when I have an open house. And, as the previous poster said, the agents will also probably want to know if you are interested in seeing other properties with them. While at the open house, the agent may try to get a sense of what you are looking for, how long you've been looking, etc., so they can follow up with you later. I always recommend setting up an email account just for your house hunt. That is what my DH and I did when we were house hunting (before I was a realtor). That way, all of the communications from agents went to one email account that we could check (or not check) at our leisure!

If you have an agent you are working with, you should tell the agent at the open house that info upfront (and better yet, bring your agent's business card).

If the agent working the open house is doing his or her job correctly, you will also be asked to sign a NY State Agency Disclosure form that states that the agent at the open house is representing the seller. By law, agents need to disclose who they are working for when they have any substantive contact with a consumer, and you need to sign to acknowledge that you were so informed. So don't freak out about signing something. If it says "NY State Agency Disclosure" on it (it's a double-sided form and should explicitly state it's not a contract), then it's just a consumer protection form. You are not being "tricked" into signing anything.

The agent working the open house will likely give you a flyer on the property (with price and relevant details) and probably his or her business card. Some agents will just let you walk through. Some will walk you through the property. If you have questions, definitely ask away! And don't be afraid to open cabinets, closets, etc. -- you really want to check out the house while you have the opportunity.

With a co-op, you definitely want to find out from the listing agent specific rules and policies. For example, co-ops will have specific financial qualifications for buyers, so you want to make sure you qualify. And if it's a pet friendly co-op and you have a pet, you want to make sure your size/breed of pet is allowed.

Don't bring food or drinks into the house -- The agents working there have to safeguard the seller's home and belongings, and it is always awkward to have to ask someone not to eat a messy chocolate ice cream cone in the seller's white living room, but these things do come up! LOL

If the open house is crowded and the agent working asks you to please wait so they can sign you in and walk you through, you should definitely respect their request. As I said, they are responsible for safeguarding the seller's home and keeping control of the open house, where anyone can walk in off the street. Sometimes people don't want to wait or listen, but while the open house is definitely for buyers to be welcomed in and look at the home, we also try to keep things orderly.

Anyway, it's fun to look at open houses, so enjoy! Let me know if you have other questions. I actually sell a good number of co-ops, so I'm happy to help!

Posted 4/23/14 10:54 AM
 
 

Potentially Related Topics:

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i'm sick of my weekends being filled with open houses. rileysmama 3/28/10 8 Home
Went to 3 more condo open houses this weekend. MUCH BETTER Ophelia 3/3/08 4 Home
Do the amount of open houses drop this time of year? beautyq115 2/8/07 5 Home
Is it really worth it to go to Open Houses? beautyq115 1/21/07 17 Home
Geez, there are 7 open houses in our neighborhood today! CathyB 2/19/06 4 Home
 
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