Can you hold an open house for another brokerage?

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Feb 17, 2023 Views5,189 Answer a Question

Addtional Details:
  • I am finding very little on this and nothing on the TREC website. Want to make sure I am in compliance. Thanks. - Feb 17, 2023
About 4 months ago
Linda! Fantastic Question and a very common one that will be helpful to many folks! Typically, brokerages do not allow agents outside of their brokerage to host open houses for them. The reason that many or even most brokerages do not allow agents outside of their brokerages to host open houses for them is because their E&O insurance does not cover them for occurrences under this scenario. Now, there are plenty of agents who are not aware of this, and a simple ask could result in you being able to host an open house for a listing agent outside of your brokerage. This is helpful if you are trying to farm a target area and your brokerage holds little or even no market share there. Feel free to contact me if you have any other questions and/or need further insight! codysellsproperty@gmail.com 346-412-6603
About 1 year ago
Yes you definitely can. I have hosted for other brokerages and other agents have hosted for me. Make sure you have a clear understanding in written of how the leads will work in regards to follow up and commissions.
About 1 year ago
You can as long as the other Brokerage allows it. And as always, make sure you collaborate with the listing agent to stay in compliance regarding marketing and branding. I Highly suggest doing open houses with your sponsoring Broker's listings if possible. What I do want to make you aware of when doing open house; in Texas, unrepresented agents can aid a buyer as a sub-agent, but must place the interest of the seller first. Open houses generates a lot of leads but be sure not to disclose any information that could harm the seller.
source:
IABS
About 1 year ago
Yes, you can. You just have to ask the listing agent.
About 1 year ago
Yes you can if listing broker and your broker allows!
About 1 year ago
Yes! It's a great way to get your foot into the door and meet more buyers.
About 1 year ago
You sure can. Some brokerages don't allow outside agents to do their open houses. I think that's silly, but it's not against any laws.
About 1 year ago
Yes if its approved by the other brokerage. Give a call I love doing open houses. James Dickerson Realtor 281-883-8426
source:
Have talked to other brokerages
About 1 year ago
You certainly can hold an open house for another brokerage, but I would get permission from my brokerage first. Brokerages frown on open houses with agents outside of their brokerage mainly because of problems with E & O (Errors in Omissions) and liabilities. However, getting this settled upfront can save you in the long wrong. Also, you can always bring a potential buyer. call me if you need further information at 713-550-4670-Renee Sharp, REALTOR
About 1 year ago
Yes there are no rules that prohibit you from doing so. However many brokerages do not allow it. They say it’s a liability. I disagree but I go by the rules of my broker.
About 1 year ago
As you can see the answer is YES. This is a great way for you to pick up some customers or clients from whomever shows up to the Open House while at the same time exposing the property for the Listing Agent. FYI, the best time to host an Open House is when the Listing is fairly new. Older Listing do not get as much attention. Wish you the best.
About 1 year ago
You absolutely can. Just reach out to the listing agent and ask them. I believe you can also use the OpenHouse App and ask to hold an open house. Good luck to you
About 1 year ago
Yes, I can’t recall there being any TREC compliance issues with holding open houses for other brokerages.
About 1 year ago
Yes, it is possible for a real estate agent to hold an open house for another real estate broker. This is often done as a courtesy between agents or as part of a cooperative agreement between brokerages. In such cases, the listing agent may be unavailable or may not have the resources to host an open house, and may ask another agent to do so on their behalf. However, it's important to note that in order to hold an open house on behalf of another broker, the agent would need to be licensed and authorized to do so. Additionally, the agent should have a clear understanding of the terms of the listing agreement and any specific instructions or requirements from the listing broker. Sidenote: it’s always a good practice to provide any pre-material designs to the listing broker/agent for approval prior to the open house. Some brokerages may require it. It just makes you look very professional, and you would probably label yourself as the hosting agent/broker, also another positive thing if you are going to make this part of your business model/lead generation always provide feedback promptly after the open house i.e. number of potential buyers and or realtors and their property feedback. If there are realtors that have interested clients, you can provide threir contact info. Just talk to the listing agent/broker to see how they would feel most comfortable. Remember it’s a collaboration, and sometimes it could be a very beneficial experience for both parties to have this relationship. David Smith Blok & Blvd. Realty 281-732-3099
About 1 year ago
Yes. I used to do it. Usually for some agents I personally know and they work with other Brokerages. I would schedule a showing through a showing service for the time of the open house. The Listing agent will advertise it on HAR. I will print Seller disclosure and ask any questions I have about the house so I am well prepared for a potential buyer just like if it was my showing. I had surveys of the house done by people who came through my open house and provided them as a feedback to the Listing agent for their sellers. If you do it as a scheduled showing it is more as collaboration with other Brokerages to help sell the house and not like open house for another Broker. If you do an open house for another agent then you most likely will have to share business that comes from the open house because you are helping them. It all depends how you want to structure your business and your relationships with other Brokerages. Hope this helps.
About 1 year ago
Yes, if the listing brokerage will allow it. You will need to reach out to the listing agent to inquire. Be sure to help your brokerage out and inquire with agents in your office, about holding their listings open as well.
About 1 year ago
Yes if their brokerage allows you to.
About 1 year ago
Yes, you can
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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