In Part 1 and 2 I gave a couple of reasons why home buyers shouldn’t attend any home showings unless they are using a buyer’s agent they chose. Many buyers will say, “But I’m just starting to look. I want to get an idea of what’s on the market. I don’t want to pick a buyer’s agent yet.” That’s fine. Attend open houses.
Attending open houses is a great way to get an idea of what’s available in your price range. The agent hosting the open house doesn’t have any claim to the co-op commission paid since he or she didn’t bring you to the home. Thus, there are no commission issues for any agent you choose as your buyer’s agent.
However, you still need to be careful what you say and do at an open house. You should ask the agent hosting the open house if he or she is the listing agent for the property. As I mentioned in Part 2, the agent could share with the seller information you might not want shared.
The one exception to attending open houses is open houses hosted by builders. Typically, when attending an open house or visiting a sales office for new construction or condo conversions the builder will ask you to register. If you register without your buyer’s agent present, the builder won’t pay a commission to your buyer’s agent. Since we agents don’t like to work for free, that means it will be you alone against a team of sales professionals.
Pick an Agent, Then Start Looking at Homes Part 1
Pick an Agent, Then Start Looking at Homes Part 2
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
