Open houses have been around for decades and are sure to be a part of the real estate business in the years to come. It is one of the most effective strategies sellers use in order to invite potential homebuyers to take a peek into the home and see its real value. But please keep in mind that open houses are not only for the sellers, it is also beneficial for buyers.
Listed below are a few practices that would allow you to make the most out of an open house visit. Read on and we’ll tell you more about it.
You don’t have to sign in
In most cases, first time home buyers are hesitant to interact with real estate agent as they fear that they’d ask for their contact number and start harassing them in the next few weeks. This might be a common scenario but you should at least say hello and recognize the agent at the open house. If you are not comfortable to give out your personal details, you are free to decline.
If you are an active buyer, don’t be afraid to express interest and let the agent know who your agent is.
Learn more about the market
Through open houses, sellers make it possible for potential buyers to take a look at the property without the need to set up an appointment. You don’t even have to act as a serious buyer in order to be given that chance.
As a buyer, this would be a great opportunity for you to get a feel for the market and the pricing before committing to an agent.
Watch other buyers
You can say a lot about a home’s marketability by simply watching other buyers. Take note of their behavior. If the attendees are walking out of the house quickly, the home probably has some issues. On the other hand, if the buyers decide to hang around and ask a few questions to the agent, then this might be a well-priced property.
If you are interested on the said property, feel free to observe other buyers. This is important as it will help you learn a lot about the competition.