Most open houses take place over the weekend when the general public is more able to preview homes. I have learned that about 95% of the people that come an open house either know a realtor or have one within their family they will use. That leaves 5% that are not working with a realtor. Of that 5%, out of curiosity, some are neighbors interested in the asking price so they can use it and other information for a comparison to their own home. The remaining small percentage end up driving by the area, notice the open house signs your agent strategically placed at each corner and walk into your house. These are strangers, possibly unqualified to purchase your house, and not only that, but your house may n ot be the right fit or style they are looking for anyway. Then there are those people just passing the time of day.
That being said, those that become disinterested in your house now become a prospective buyer of another house that your realtor would be happy to show them. So, now are you surprised that an open house usually benefits the realtor more than the home seller? I'm not saying an open house is necessarily useless. There have been lots of cases a home sells as a direct result of an open house. The percentage of homes sold as a direct result of open houses is minimal to say the least.
Your realtor's time is very expensive. You are paying your realtor a nice hourly wage via a commission to market and sell your home. Do you feel that nice hourly wage should be spent baking cookies and permeating the house for a possible buyer or spent wisely on mass marketing media, networking and other more effective marketing strategies? I'm sure you can answer that one.
I have to admit I would be very upset if there was an open house at my house and my realtor was discussing other houses for sale with other potential clients. After all, I pay that realtor a good commission to sell my house in a timely manner.
The thing to remember is to stay focused on the priorities of selling your home. What is required to sell your house? That's the real question because you must remember this is now no longer your "home." It is a house to be marketed, so put away all your family pictures and too personal things that will cloud the potential buyers eye to see their possessions in the house. Ask your realtor and then do it. If it means cleaning out the house or painting, do it. Do whatever it takes and your house will sell in a timely manner.
If you're planning on buying a new home, attending open houses can be a good way to find a home you want or pick up useful ideas from what you find. Visiting open houses should be an enjoyable and fun experience, but you also have to keep focused on the reason why you are there. Primarily you're trying to get home buying information and maybe even find that special house that you have been looking for.
With that in mind, you need to approach visiting open houses with an organized mindset. Very often, you'll be visiting several open houses in the same day. And over the course of a few weeks, it can add up to quite a few homes that you have visited. As a result, it can be very easy to forget important points from one house to the next. So to ovoid this problem, it's a good idea to take very good notes on each home that you visit and perhaps even take along a digital camera to get a few snapshots if you wish. Of course, make sure that it is agreeable with the householder before taking photos of the inside of their home.
Whenever you visit an open house, jot down a few things that you like and dislike about it as soon as you arrive. What is its overall appearance from the outside? Is it close to nearby schools if that is a necessity? How about shopping malls? And how far away would it be from your job? Sometimes these are questions that home buyers fail to take into account early in the buying process.
When inside the home, be sure to check everything and take plenty of notes as you go. A few things to watch for are the condition of the cabinets, the carpet, the walls, the ceilings, and so on. Take good notes on any items if you feel may need repair.
Consider the size of all the rooms in the home, and determine if they will meet the needs of you and your family. If necessary, even take a tape rule with you to be able to measure out individual rooms and see what kind of space is available. Pay particular attention to storage and closet space, as this is an area that is quite often overlooked by new home buyers, but will become very important if you should decide to buy.
It's also a good practice to spend a few minutes outside the home and listen for noises that could be bothersome. Perhaps there is a train that passes nearby, or freeway noise that seems excessive. Just taking the time to listen can sometimes be very illuminating, and can help you ovoid moving into a home where noises could be constantly irritating.
Of course at most open houses, a real estate agent or broker is likely to be present. If so, feel free to ask plenty of questions, but keep in mind that the answers may not always be straightforward. If you try to make notes though as the questions are answered, there is a good chance that you'll get more honest answers. Don't be shy about asking questions either, as the purchase of a new home is a very large investment, and you want to be sure that you are well informed about all aspects of the home before you even consider it as a purchase.
Sometimes you may even find some mortgage lenders attending certain open houses as well. But just be sure to stick to your original schedule, and not fall for any special deals that they offer you if you buy right away. Remember, open houses are just for looking, not for buying.
Sometimes you can find the home you want within a short period of time, and other times you may have to visit several open houses before you find anything that seems to appeal to you. Just be sure to take your time and be patient as you go through the process of visiting local open houses.
Both Sintilia Miecevole & Jim Johnson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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