Open Houses as Schools for Buyers
June 12, 2007
Open houses serve several purposes. For sellers, they offer an opportunity to show their homes to prospective buyers who are not yet ready to commit to working with a real estate agent. For buyers, viewing many homes in all price ranges and educate them as to what location and amenities their dollars will buy.
Traditionally, I think that real estate agents do open houses as a service to the seller and as an opportunity to meet potential buyers. However, as I have sat open houses almost every Sunday for a year, it occurs to me that savvy buyers are using open houses to comparison shop. Visitors to open houses may or may not be intending to purchase a home in the near future, but they almost certainly are thinking about making a change. Sometimes it can be to see decorating or remodeling. Sometimes it is to see how their present home compares. Each visit to an open house can be an education opportunity...and not just about property. Buyers meet agents, can learn about financing and query the agent about schools, shopping and any other information that they might use for their future plans.
I seriously believe that people do not give up their Sundays to tour open houses just to entertain themselves. Somewhere in their thinking is a desire to make a move. A good agent will be of help in sorting out their wants and needs and be a great resource. A great agent that I know always considers herself a tutor who teaches her buyers and sellers the ins and outs of buying and selling real estate.
Buyers seem wary right now because of all the media hype. There will never be a guarantee that your home purchase will be a great investment, but it will surely be the right spot to enjoy living, if only until you make your next move. Just as high school seniors are graduating this month, potential buyers graduate when they make that offer. Learn the market, select an agent, select a property and make your offer.
Open houses serve several purposes. For sellers, they offer an opportunity to show their homes to prospective buyers who are not yet ready to commit to working with a real estate agent. For buyers, viewing many homes in all price ranges and educate them as to what location and amenities their dollars will buy.
Traditionally, I think that real estate agents do open houses as a service to the seller and as an opportunity to meet potential buyers. However, as I have sat open houses almost every Sunday for a year, it occurs to me that savvy buyers are using open houses to comparison shop. Visitors to open houses may or may not be intending to purchase a home in the near future, but they almost certainly are thinking about making a change. Sometimes it can be to see decorating or remodeling. Sometimes it is to see how their present home compares. Each visit to an open house can be an education opportunity...and not just about property. Buyers meet agents, can learn about financing and query the agent about schools, shopping and any other information that they might use for their future plans.
I seriously believe that people do not give up their Sundays to tour open houses just to entertain themselves. Somewhere in their thinking is a desire to make a move. A good agent will be of help in sorting out their wants and needs and be a great resource. A great agent that I know always considers herself a tutor who teaches her buyers and sellers the ins and outs of buying and selling real estate.
Buyers seem wary right now because of all the media hype. There will never be a guarantee that your home purchase will be a great investment, but it will surely be the right spot to enjoy living, if only until you make your next move. Just as high school seniors are graduating this month, potential buyers graduate when they make that offer. Learn the market, select an agent, select a property and make your offer.
posted by shirley harry at 8:17 AM
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