What Is an Open House?
“Open houses usually last for about two hours and are normally held over the weekend.”
“You do not have to go through the formality of scheduling a private appointment.”
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Open houses are usually held soon after a home is listed for sale.
“Buyers are taking their time during this real estate cool down.
In 2021, an open house could end in multiple offersnot so today.
“Buyers are taking their time,” Li says.
“They no longer feel the need to rush to put in an offer.
“How well is the property received?
Is the property priced right?
How does it show to the average person?
What are the pros and cons of the subject, and how does that affect the market value?
A successful agent would have the tools and the dialogue to gently extract this feedback,” she says.
Longtin stresses that cleanliness is most important on the day of an open house or any showing.
“Make it smell as good as it looks!
“Sellers should stay away during the open house.
“You don’t want potential buyers finding a hidden camera and submitting a complaint.”
Don’t worry if you feel your home gets lots of traffic from folks just browsing for fun.
“We all know that the ‘Nosy Neighbor’ may attend out of curiosity.
Not to fret,” Longtin says.
“Neighbors may have friends or family members who may be a candidate, as well.
“There’s no rule that says you must be interested in buying this property so that attend.
“Visiting an open house is just the same as viewing a home by appointment.
Look for the qualities you’re looking for in a home,” Li says.
Ask about major renovations and any water, fire, or pest damage.
Sample questions could be: What is the time frame of the seller?
What are the occupancy expectations?
Do you have any offers?”
“You really do not want to seem overly interested.
Those are acceptable questions.
People can detect your interest and spur competition!
Be mindful of this!”
As you assess the property, considermaking an offeras well.
Frequently Asked Questions
An open house can be intimidating for both the seller and potential buyers.
That way youll be offering and receiving some privacy, especially if you dont like certain features.
