The Low Down on Austin Open Houses
The low down on Austin open houses
The 411 of The Open House
WANT TO KNOW A SECRET?
Open houses are not necessarily held to sell that particular property. In 2014 less than 10% of buyers found the home they purchased at an open house. Realtors will host an open house because they either want to generate more buyer leads or perhaps the seller still believes it’s a good tactic sell their home. Yes, sometimes it works but it’s rare and in many Austin areas that house you’re walking into may already have a few offers on it. Why do I still think it’s a good idea for buyers to go to open houses? To educate themselves! You’ll become familiar with areas you’re interested in, the price ranges and have the opportunity to monitor how fast homes are selling.
Is the Realtor at the open house chatting you up and you want them to leave you alone? Kindly tell them you already have an agent. Trust me, they won’t bother you anymore! Yet, chatting with the Realtor may not be the worst decision as they may give you some insight, not only on the house but the market in general. Even if you do have an agent, it’s always good to get other opinions and insight. I always like to remind buyers that Realtors are FREE to them and they should always have one guiding them, even very early on in the process.
Before you get too much information from the hosting agent, you may want to ask them if the house is their listing. Usually the one holding the open house is not the listing agent but somebody from their office. If that’s the case, they may not know too much about the house afterall. It doesn’t hurt to ask them questions, just keep that in mind!
WHEN TO GO?
If you’re currently curious about the market I’d start checking out a few now. If you go to my website, hover the mouse over “search” at the top of the homepage and click on “Open House List”. You will be able to see all the upcoming open houses in Austin. Many sellers list on Thursday, so Friday may be a good time to plan out your open house adventure.
You may be thinking, well, shouldn’t I start to look at houses with my Realtor? Yes and no. You first need to figure out what you can afford versus what you want and see if those two things align. Talk to a lenderand your Realtor and start looking at open houses. It’s part of your Realtors job to show you homes but you need to narrow it down. Otherwise, you both will be driving all over Austin with no purpose or direction!
WHAT DO I DO THERE?
Besides the obvious…looking around, asking questions and making comparisons from past homes you’ve viewed…you should also talk to other people who are at the open house. They may be buyers or neighbors who’ve lived in the area for a while. It’s good to see how other buyers searches are going and maybe they can give you some pointers or advice. Neighbors and other buyers may also point out something about the house or neighborhood that you didn’t notice.