If you’ve been considering buying a new home but have used the excuses of bad weather or the busy holiday season, this early Spring-like weather might be changing your mind! If it has then you might be stopping by some open houses this Sunday while beginning or continuing your home search. If that’s the case you’ll definitely want to do the research on the homes that are open this Sunday and what you should or shouldn’t do. We’ve already given a couple of blogs in the past about Open Houses including:
These blogs will definitely provide some great insight about Open Houses, but they’re geared more towards the home seller. This blog about Open Houses is more towards prospective buyers to make sure you don’t miss anything important while you are searching for your dream home! Remember these top tips for prospective buyers when you go to your Open Houses this weekend.
- What Is The Value For Buyers?
While the blog above gives some great ways an Open House is valuable to sellers (buyer market research, listing research, etc.) you might be wondering what the value of an Open House is for buyers. It was also mentioned in the blog that it’s likely that the people coming to your Open Houses without a real estate agent did all of the research on their own. While this is an opportunity for your agent to pick up a buyer, it is also an opportunity for your prospective buyers to decline the agent’s assistance and do a free home search on their own. Some buyers might be in the very beginning stages of their home search and might just be attending these open houses to see what kind of homes and price ranges are available. If this describes you then Open Houses are the perfect way to tour a number of homes without committing to one agent or real estate company.
- Be Polite
If you’re worried about attending an Open House because of the pressure to sign on with the agent that is there, don’t worry and just be polite. Most of the time agents have a sign in sheet to protect the seller, as mentioned in the blog above, to protect the valuables in their home. If that’s the case and the agent insists that you sign in, simply put your name and don’t leave your contact information. If the agent is persistent about getting your information you can always ask for their business card and tell them you’ll keep them in mind. Just remember to be as polite as possible and honest in why you are there. If you are a serious buyer you should definitely introduce yourself, even if you already have an agent. Our source says that “listings agents like to put a face to a name” when they review offers.
- Observe
It’s important to not only note how traffic, and the neighborhood is when you go to this Open House but also how other prospective buyers react while there. Though of course every buyer is different, if they are in and out quickly that could be a bad indication or problem with the house. However if you notice couples, families, or other prospective buyers that seem eager and are staying longer and asking tons of questions then clearly this is a very popular home! Open Houses are great tools for agents to research their clientele as mentioned, but they are also good tools for you to research your competition!
- Be Open
Whether you are a serious buyer or just seeing what’s available, be open at these open houses! Be open to using a real estate agent. While most open houses are there to sell the house, most agents are also looking for buyers to assist even if the home in question is not for them. Be open to using a real estate agent and don’t hesitate to ask them about the current real estate market and what areas they service. While you might be fearful of the pressure they might put on you, remember all the benefits that agent could provide to you in your search!
- Ask Questions!
Finally don’t be afraid to ask questions! Of course if you have an agent you can use their assistance in this because they’ll know the right kind of questions to ask but don’t be afraid to ask them yourself as well. Our source suggests tailoring your questions to the type of market you are in. For example if you are planning to go to open houses during the upcoming Spring Real Estate Season you might what to ask things like “Why is the seller selling?” or “Have you had a lot of showings?” or even “Is there a certain day to review offers?” However if you’re not quite ready yet and are waiting for the colder, slower real estate months our source suggests asking questions like “How long has the property been for sale?” and “What is the seller’s motivation?” Don’t forget to watch the agent’s reactions and facial expressions to your questions as another clue about the home!
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Until Next Time,
Jim