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Real Estate
Open House Etiquette
BY CHRYSTAL CARUTHERS
Would you go to a friend’s dinner party, nibble every course, drink a glass or two of wine, and then leave – without ever speaking to the host? I hope not. And I hope you wouldn’t treat open houses the same way. And yet home buyers often do, refusing to sign in or deflecting agents’ questions about the house they’re touring.
Sometimes they do it because they’re leery of being given a hard sell or handing over their personal information; others decline because they’re uncomfortable being put on the spot about a potentially huge decision. Whatever the reason, this puts brokers in a tough place: Open houses might be fun for home shoppers, but to agents, they’re work. Your feed- back is the market research they need to do their jobs right.
So, perhaps all that home buyers need is a little preparation. If they know the questions brokers are going to ask, they can be ready with answers, and everyone can go home (perhaps to this very home?) happy. Here’s your cheat sheet:
1. The question: How long have you been looking?
Why they’re asking: The agent is try- ing to gauge how serious you are. If you’ve been looking for only a short time, say a few weeks, the agent will understand that you’re just getting your feet wet— that you’re still gathering your thoughts. If you’ve been looking for months, then the agent might dig in. That tells her you’ve seen a lot, but you haven’t found what you’re looking for. She’s wondering why you haven’t pulled the trigger and, hey, maybe this is the house you’ve been waiting for.
How you should answer: Be hon- est and specific. This is harmless information.
2. The question: Are you working with an agent exclusively?
Why they’re asking: Agents are trained to respect boundaries. If you are represented by an agent, the open house agent cannot try to represent you. This question sets the tone of the conversa- tion. Don’t be surprised if the agent asks who your agent is. Most agents who do business in a certain area know other active agents. This way the open house agent can call your agent—not you—for your feedback. You are insulated by your buyer-broker agreement.
How you should answer: If you’re working with an agent, say so! Even better, give the open house agent your agent’s name and brokerage company. This protects you from having to give your personal information to the open house agent. Rather than sign in with your name, number, and email, you can sign in with your name and your agent’s contact information. That’s all the open house agent needs to follow up.
3. The question: How does this house compare to others you’ve seen? Why they’re asking: Now that the agent knows how long you’ve been look- ing, she wants to get a sense of whether this house is a contender. She is also assuming that you’re touring other houses nearby (other “comps,” as they say). She wants your honest insight on whether her listing is better or worse
than the others.
How you should answer: Be hon-
est. If the house around the corner has a remodeled master bath and this one doesn’t, point that out. If you think this
house could use some work, let her know. Remember, being honest about the house won’t hurt the agent’s feelings. She’s inde- pendent. Of course she cares about her listing, but, unlike an owner, she isn’t emotionally attached. This is one reason for sale by owner is difficult.
4. The question: Are you specifi- cally looking at this neighborhood?
Why they’re asking: The agent isn’t being nosy here, she wants to know how focused you are. She wants to rule out the looky-loos and focus on the serious buy- ers. If you are looking in that particular neighborhood but not interested in mak- ing an offer on her listing, you’ve caught her attention. She needs to understand what other listings have that hers doesn’t. Now she’s focused on knowing your trig- ger: Are you focused on certain streets within the neighborhood? A certain style of house? Or is it all about price?
How you should answer: Be spe- cific. If you’re focused on that neighborhood, it’s OK to say so.
If you’re open and still getting
your bearings straight, it’s OK to say so. These answers pro- vide depth for the agent when she’s talking to the seller (e.g., “The open house was great! I had a buyer walk through who has been looking for a while and she is only looking in this neigh- borhood.”). This tells the seller there are buyers out there—and that adjustments may have to be made if those buyers aren’t buy- ing this home.
5. The question: What do you think of the price?
Why they’re asking: This is probably the most important
question, but it may not be the first one out of the agent’s mouth, because she wants to establish rapport first. The agent knows that people are usually guarded when it comes to price. She wants you to give a thoughtful answer, not a flippant one.
How you should answer: Now, this is tricky. If you’re not really in the mar- ket to buy, or can’t compare it to other houses on the market, don’t just throw out a number. Simply tell the agent you haven’t seen enough to give an educated answer. If you feel you can answer, say something like “I think it’s priced com- petitively” or “It’s priced too high.” The point is not to give a dollar figure but to offer a general perception. If you believe it’s a good deal, say that. If you think it’s overpriced, say that. Because if the house is overpriced, maybe the agent will call you once it’s reduced.
Submitted by NMAR PR Committee
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