Homebuyers: Are You Making the Most of Your Open House Visits?
An open house can be fun to stop in at to look around. Buyers like to see what is on the market, and our curiosity often causes us to stop and look even if we aren’t looking to buy. But serious buyers can gain a lot from an open house. These 6 tips will help you make the most out of your time at an open house:
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Look at the house before the open house
If you are in a seller’s market and have an interest in a house that is going to be having an open house soon, set up a private showing prior to the open house. If you are the first person to make an offer, it helps set the bar for where the other buyers will have to come in. You have more time to look through the house without others around during a private showing.
If you like the house, write a strong offer to entice the seller to accept it. This strategy can help you to get the house when other buyers are simply waiting to attend the open house.
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Talk to the seller’s agent
When you attend an open house, take time to talk to the agent. The more you can find out about the seller, the better chance you have of writing an offer that they can’t refuse. Find out what their motivation is and if they are in a hurry to get out of the house.
When you make an offer, having a good rapport with the agent can go a long way in how they present your offer to the seller.
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Go as soon as it opens
Try to be the first person to show up at the open house. This gives you additional time with the agent and a chance to see the house prior to more people coming in. It can be hard to look at everything that you want to when you are moving through, or trying to avoid, crowds of people. Arriving early can help address this problem.
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Go on weekdays
The majority of people are able to attend open houses on the weekends. If you see an open house that is on a weekday, try to take advantage of it. There will be fewer people and more room to space out.
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Go for a walk
Remember you are buying the location and not just the house. If you like the house, take the time to walk the neighborhood before making an offer.
How do the neighbors seem? Are there parks close by? Sometimes you will notice things that will make you think twice about making an offer.
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Watch reactions
You want to pay attention to both your reactions and the reactions of the people around you. Do not show too much excitement about the house. You don’t want to let other buyers know that you are interested in making an offer, or it could encourage them to as well. Watch the reactions of the people that are around you. If they are showing a lot of excitement it can mean that you want to move fast with making an offer.
While an open house can be fun to go to, there is also a lot that a buyer can accomplish while going. Even if you don’t end up making an offer on that house, you can gain valuable experience by getting familiar with the process. They also give you a great chance to see what is available on the market.