If you’ve been thinking about buying a home but aren’t quite ready to commit to a real estate agent, there’s good news: Open houses have become one of the easiest and least stressful ways to begin your search.
For years, open houses attracted plenty of “lookie-loos” – people who were simply curious about a home with no intention of buying. While they still exist, today’s open houses serve a much more important purpose because of changes in how buyers and agents work together.
Under California law, buyers and their agents must have a written buyer representation agreement in place before the agent begins representing them in a purchase transaction. Industry practice also requires a signed agreement before privately touring homes listed on the MLS. These agreements spell out the services the agent will provide, how they will be compensated and the length of the relationship, creating greater transparency for everyone involved. Buyers generally have two options through the California Association of REALTORS®: a Buyer Representation and Broker Compensation Agreement (BRBC), which establishes an ongoing representation relationship, or a Property Showing and Representation Agreement (PSRA), which allows for more limited representation, such as showing a specific property or properties.
Open houses are different.
When you visit an open house on your own, you can view the property without signing a buyer representation agreement. You’ll usually be asked to sign in, and many listing agents use the Open House Visitor Non-Agency Disclosure and Sign-In (OHNA-SI) form. That document explains an important distinction: The agent hosting the open house represents the seller – not you. They owe the seller fiduciary duties, not the visitor, and anything you share could potentially be shared with their client. In other words, they’re happy to answer questions about the home, but they aren’t acting as your advocate.
That doesn’t mean you should avoid open houses. Quite the opposite.
If you’re still figuring out which neighborhoods you like, comparing floor plans or deciding what your budget can realistically buy, open houses let you explore at your own pace without the pressure of committing to representation before you’re ready. They’re an excellent opportunity to learn the market, see homes in person and narrow your wish list.
And who knows? Along the way, you just might meet the real estate professional you want representing your interests when it’s time to make an offer. Sometimes the best agent isn’t the first one you interview; it’s the one you meet while walking through the right front door.
Theresa Grant is a real estate broker and columnist covering Lake Arrowhead, Crestline, Running Springs, and the surrounding mountain communities. Reach her at (909) 442-1345 visit www.HomesInLakeArrowhead.com, and follow her on social media @TheresaGrantRealtor. Theresa is a Broker Associate with REAL Broker Technologies. DRE#01202881.
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