Going to an open house tomorrow

We have never been to one. What should we expect? We are only beginning to consider the possibility of moving.

Re: Going to an open house tomorrow

There will be at least one, maybe two, agents there who represent the seller (they may or may not be the listing agent; they could also be other agents from the listing agent's office).

The seller is usually not there -- most agents want the sellers to leave for an open house, but sometimes they insist on staying and that's ultimately their choice.

How the open house is run really depends on the agents who are working it. Some agents will literally sit there, reading the newspaper, and tell you to go through the house alone and let them know if you have any questions.

At my company, we typically have two agents working each open house and we escort people through the house once, and then let them walk around on their own if they want, but we definitely keep an eye. I know a lot of people on this site said that they prefer to be left alone to look, but when I am working an open house, I have a responsibility to safeguard the seller's home and their personal belongings (assuming the house isn't vacant). Walking people through also allows me to point out features of the home they may not see/know about otherwise, and to engage in conversation. But then, if they want to walk through again or talk privately, that's fine with me.

Most agents will want you to sign in when you first come in. We typically ask for their name and at least an email or phone number, and we want to find out how they heard about the open house for our own marketing research (whether it was internet -- and if so, what site, signs, etc.). Agents are also required to have you sign what's called the New York State Agency Disclosure form, by which you acknowledge that they inform you that they represent the seller as they are the listing agent or in the listing agent's office. So don't be put off if they ask you to sign the form -- they should, and it's for your consumer protection! Lots of people are confused about which party the agent represents.

The agent who is there will probably try to find out more about your house hunt -- do you have an agent? how long have you been looking? what are you looking for? are you preapproved?

Usually, you will get a flyer or some sort of brochure about the house you are at, with the house characteristics, asking price, and listing agent's contact information.

Good luck and have fun!

Re: Going to an open house tomorrow

Thank you. If we should happen to be interested, do we need to get an agent for ourselves or can we start the offer process on our own?

We are only just tossing around the idea of moving so we don't have any pre-approval for another mortgage or anything like that.

Re: Going to an open house tomorrow

If you own a home already, and you can't can't carry two homes/mortgages, then you likely won't be able to make an offer on a new home until your current one is under contract. It would be extremely rare for a seller to accept (or a listing agent or attorney to allow a seller to go to contract on) an offer that is contingent on the buyer's sale of their current home, IF that current home isn't already under contract. Even if the current home is under contract, some sellers are still nervous about this contingency (given that mortgage requirements are stricter, for one reason).

So as a matter of timing, you probably won't be in a position to make an offer until you have a buyer for your current home and are in contract.

If you don't need to sell your current home to get a mortgage for a new one, you will definitely need a preapproval letter before you make an offer, in order for your offer to be seriously considered.

As far as your initial question - if you see something you like at an open house and you are ready to buy, you don't need your own agent. I think it's a better idea to have your own agent, for many reasons, but you could always just make an offer through the agent who you met at the open house (who may be the listing agent, or may be another agent who works with the listing agent in the same office). But if you go through the listing agent or one of his/her colleagues -- keep in mind that they represent the SELLER, not you, and their job is to get the best and highest offer for the seller. NY's real estate laws are really in the vein of "buyer beware" -- there's really not much in the way of affirmative obligation to disclose anything to a potential buyer. So while it's in your interest, imo, to get a buyer's agent who will work for YOU and help safeguard your interests, it's not required.

Re: Going to an open house tomorrow

Thank you for all your help- wish we didnt live upstate so we could meet with you!