You’ve decided that you are in the market for a house, and are looking for homes that fit your wants and needs. After researching, you’ve located some homes that are up for sale and have upcoming Open Houses.
With the recent changes in the industry and the implementation of the Trust In Real Estate Services Act (TRESA), there are some new protocols. So before you go, let’s review the latest on Open House etiquette.
With new TRESA guidelines, there are changes to your options for representation. You can either elect to work with an agent in a client relationship where you are owed fiduciary duties and a high level of service or you can be a self-represented party. Be sure to check out the RECO GUIDE for more information on the nuances of representation.
The seller’s real estate agent will likely greet you upon arrival. They will give you some quick information on the residence, and either give you a full tour or a property layout sheet for you to refer to during the visit. How they interact with you will depend on whether you’re looking for an agent, are already represented by an agent, or have declared yourself a self-represented party.
Always keep in mind that the agent is there representing the seller’s best interest. So they may be able to provide factual information about the property but they are not able to tell you anything that isn’t representing the seller or would hinder the seller’s negotiating position (such as reason for selling).
Remember that if you want a private tour, have your agent arrange it with the seller’s agent. You’ll be able to ask questions at your leisure and gain insight from your agent’s expertise.
What to do
- Wear shoes that are easy to take on and off. If you see a bunch of shoes at the door, please take yours off as well.
- Observe if the home is staged and well-marketed and try to remain objective. A well-marketed property ultimately sells for more but you need to focus on the meat and potatoes of the home. Review the size of each room, how they flow, and the different types of rooms. Do they meet the needs of your family? What about your work situation? Remember to picture what your furniture would look like in each space because what is in the staged home right now won’t be there when you move in.
- Pay attention to how busy the Open House is and how serious other buyers seem to be about the property. This information may be helpful should you choose to make an offer.
- Note the accessibility of the parking. Open Houses are usually during busy weekend hours so it’s a good gauge of how difficult finding a spot might be in the future.
- Keep your cards close to your chest. Be cautious about disclosing too much information about your situation (motivation, budget, timeline) and refrain from negative comments. This could be used against you when it comes down to bids or negotiation.
These are all important considerations that you may not initially think about, but they’re important to finding the best home for you and your family while meeting your lifestyle needs.
What NOT to do
- Don’t show up outside of the hours of the Open House and expect to see it.
- Don’t touch any personal belongings of the seller.
- Don’t assume your conversations are private. While legally interior cameras should be disclosed, sometimes they are not.
- Don’t tour the house unaccompanied, unless you have been instructed otherwise.
- It may seem obvious, but don’t bring your dog or other pet to the Open House.
Ultimately, put yourself in the seller’s situation. What would you not want to see during your Open House?
