Are Open Houses Always Beneficial?

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Have you ever started your home search by going to an open house or two? An open house can be a great way to see a home without having to schedule a private showing. However, some people have asked whether they can end up hurting you as a buyer in the end. While visiting an open house may seem like a nice thing to do when you have some free time, whether it's beneficial depends on if you're a prepared buyer.

When it comes to talking to a listing agent at an open house, a little mystery goes a long way. More isn't always better, especially when you're talking to the seller's agent. Your buyer agent should know everything about your needs, your desires, and your overall situation, but the seller's agent is a different story. When they approach you at an open house, here are some things NOT to talk about:

• How much you like the home: Play it cool. You want the seller to know you can feel at home here and that you're serious about any offer you might make, but you don't need to tell them that it's the house you've been waiting for and that you'll do anything to get it.

• Don't be too critical: If you end up making an offer, you don't want to reveal anything that could make you seem anything less than a viable buyer. Especially in a competitive market, you want the seller to think you're as solid as they come.

• Don't talk about what you can afford: You won't be directly negotiating with the seller's agent, but if they know how high you're willing to go, it could end up costing you money.

The first goal is to get your offer accepted and the second goal is to have it accepted at the best possible price. Divulging too much information can cost you money or perhaps even the home of your dreams. Your best bet is to be smart, ask a lot of questions, and let the seller's agent do all the talking; anything worth revealing will be done later when the agent does their job of getting you the house for a fair price.

If you would like to avoid the potential risks of visiting an open house, call us today to set up a showing on any home from any company here in Rochester. There is no obligation and no pressure from our team of real estate professionals. We're simply here to help!