Open houses might be fun for home shoppers, but to agents, they’re work. Your feedback is the market research they need to do their jobs right. If you know the questions open house agents are going to ask then you can be prepared with answers. All you need is little preparation Here is your cheat sheet to some of the questions you may face at an open house:
1.The question: How long have you been looking?
Why they’re asking: The agent is trying to determine how serious you are in buying a new home. If you’ve only been looking for a few weeks, the agent will understand you are just getting your feet wet and trying to figure out what you are looking for in a new home. If you have been on the home search for months, the agent will recognize you are a serious buyer and may dig in further to find out what you’re looking for.
How you should answer: Be honest and specific. This is harmless information.
2.The question: Are you working with an agent exclusively?
Why they’re asking: This question sets the tone of the conversation. If you are represented by an agent, they open house agent cannot try to represent you. Many agents doing business in the same area know each other so don’t be caught off guard if the agent asks who your agent is. The agent will likely call your agent to get your feedback on the home.
How you should answer: If you are working with an agent, say so! If you are asked to sign in with your name, give your agent’s contact information rather than your info. That’s all the agent needs to follow up.
3.The question: How does this house compare to other’s you’ve seen?
Why they’re asking: Now that the agent knows you have been looking at other homes, they want to know how their listing compares to others on the market. What better feedback than from a home buyer who has toured other homes nearby.
How you should answer: Be honest and point out the differences (good and bad) between comparable homes. If you recently toured a similar home in the neighborhood with a remodeled kitchen but this kitchen could use some updating let the agent know. This feedback is valuable to the agent and the homeowner to understand if the home has been on the market longer than others in the neighborhood.
4.The question: Are you specifically looking in this neighborhood?
Why they’re asking: The agent would like to know how focused you are. If you are serious about the neighborhood but not interested in making an offer on his/her listing, you’ve caught her attention. What is it about this listing that isn’t appealing? The house style? The particular street it sits on? Or is it all about the price?
How you should answer: Once again, be honest. If you’re focused on the neighborhood, it’s OK to say so. If you have just started looking and aren’t quite ready to pull the trigger, it’s OK to say so. Any feedback the agent receives is valuable and will help in deciding if there are adjustments that need to be made in marketing the home if buyers aren’t making offers.
5.The question: What do you think of the price?
Why they’re asking: This won’t be the first question to be asked but it’s the most important one. The agent wants a thoughtful answer.
How you should answer: If you don’t feel like you have seen enough homes or don’t know enough about the market to give an educated answer, then explain this the agent. In general, the agent isn’t looking for a specific dollar amount but would like to know if the home is “priced competitively” or “priced to high.”
6.The question: Are you considering making an offer on this home?
Why they’re asking: The agent is trying to do their job so don’t take offense!
How you should answer: As a buyer, you hold the power. Letting the agent know you are planning on writing an offer is good news to the agent. It also may help you if the home is in high demand. The agent will wait for all offers to be submitted in a multiple offer situation so this allows you time to contact your agent and your offer submitted. If you’re not planning on making an offer, it’s fine to say that, too.
Buying a home is probably the most significant financial commitment you’ll ever make. Whether you’re a first time buyer or building your dream home, HUFF Realty will help you through the entire home buying experience.