With spring approaching and more listings on the market, open houses are ramping up. While they’re a common tool in your marketing toolbox, they are also regulated “trading services” under BC’s Real Estate Services Act and must be done in compliance with all regulatory requirements.
1. Best practice: the seller’s agents hosts
As the listing agent, the seller has chosen you to represent them. You are in the best position to answer questions about the property and protect the interests of the seller.
2. If you can’t attend
Confirm the seller still wishes to proceed and obtain informed consent before arranging coverage. A licensed colleague from your brokerage may step in, but they also represent the seller and cannot engage buyer clients for that property, to avoid prohibited dual agency. Do not ask a licensee from another brokerage to host for you, and do not assist another brokerage. Trading services must be provided through your own brokerage. Unlicensed assistants may not host an open house without a licensee present.
3. Protect your client’s privacy and possessions
Prior to the open house or any showings, ask your client to safely secure valuable possessions. Do not permit buyers or their agents to take photos of the property without the express prior written consent of the property owner.
4. Open house signage
Licensees must comply with municipal signage bylaws as well as strata bylaws if the property is a strata unit.
5. Be on time
In a recent post on the Fraser Valley REALTORS® Network Facebook page, members reminded colleagues of the importance of arriving on time for showings and avoiding overbooking beyond what they can reasonably accommodate, as delays can disrupt schedules and inconvenience others.
Bottom line: Open houses may be routine, but they are regulated. Follow the rules, avoid dual agency, and consult your Managing Broker when unsure. Protect your client. Protect your licence.
For more information see Sections 30, 32 and 63 of the Real Estate Services Rules or visit the BCFSA website.
Source: Professional Standards