5 Tips Buyers Should Heed When Going to Open Houses

For a home buyer, open houses are a great source of information about neighborhoods, housing amenities, and local markets. Almost half of all home buyers go to one, according to the National Association of Realtors. But not all go ready to do their “homework.” So, here’s my 5 tips buyers should heed when going to open houses…

1. Test-Drive the House.

94% of all home sellers do some form of staging, such as showcasing new furniture or painting, according to Coldwell Banker. Don’t be afraid to dig beyond the surface. Lift rugs to look at floors, ask the agent to turn off music so you can listen for any neighborhood noise, and be aware of any smells masked by fragrances. If a light isn’t on, turn it on. Turn on a faucet to test the water pressure. Open sliding screen doors. Finally, request a disclosure sheet, which should list known structural issues.

2. Observe Others.

Listening to other buyers may well shed light on something you hadn’t considered. If someone sounds like a neighbor, ask them how they like the area. Stop by during the last hour and look at the sign-in sheet. A full sheet could mean demand is high.

3. Ask Questions of the Listing Agent.

The listing agent should be your source of information. Some great questions to ask:

• Have there been any upgrades to the property?
• Have you gotten any offers?
• Why are the sellers moving (you may not get a straight answer!)?

Don’t disclose your budget or feelings about the home. Chat too much, and you may inadvertently give the seller the upper-hand in negotiations later!

4. Set the Record Straight.

Quite often, another agent will hold the house open for the listing agent. Which means, of course, the showing agent is likely looking for buyers to represent. If you’re in the market for an agent, that’s great–this is a chance to see how proficient they are. If you’re not, you should make this clear early on. In fact, buyers who have an agent should indicate so (provide the agent’s contact info) on the sign-in sheet. That way, your agent can handle any follow-up calls or emails.

5. Explore the Neighborhood.

Many buyers overlook exploring the neighborhood. Take note of the area by checking out surrounding streets. A neighborhood can seem quite peaceful during an early weekday, but can feel completely different on a weekend. Drive by the home at different times of the day or evening.

By doing some basic “open house homework” initially, you’ll save yourself a lot of time and money down the road!

And if you have any questions about what to look for at open houses or about selling or buying a home in metro Albuquerque, be sure to contact me today!