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When's The Open House? Why Waiting May Cost You!

By
Real Estate Agent with Transaction Alliance 513.520.5305 www.LizTour.com SAL.2002007747

open houseWe get calls about homes for sale asking "When's the open house?"

Typically the buyer either a) doesn't have an agent and doesn't want to work with one or b) just doesn't want to "bother" their agent or c) just isn't a very motivated buyer.

In any case, waiting for an open house can be a risky way to home shop. 

Obviously the longer you wait to see a home, the more likely someone else will get there first and buy it.  It's a you snooze, you lose proposition.

If it's just a matter of not wanting to work with an agent, you might want to read our post about Mason home buyers paying MORE when they don't hire their own agent.  Working directly with the listing agent could actually cost you MORE dollars rather than less.

And if you're not a serious buyer, perhaps visiting Open Houses is entertaining.  If you're lucky maybe someone will have some fresh chocolate chip cookies!

The other drawback of waiting for the open house is you just may have to wait a LONG time for an open house.  Some agents may never hold an open house.  Frankly, open houses are not a key component of our marketing, so it's typically only under special circumstances that we're holding a home open.

On the other hand, we're more than happy to show a home we have listed, even if you already have an agent.  But honestly, it's best if you have your own agent do the showing since we work FOR the seller.  Repeat, it's the SELLER who hired us!

If you see a home that looks promising, our best advice is get your own buyer's agent and get an appointment set pronto!  At some price points and locations, even waiting a day may be the difference between having a shot at a home and being told TOO LATE! 

Any other questions about buying or selling a Warren County are home?  Just give us a call/text at 513-520-5305 or email Liz@LizSpear.com

Liz and Bill aka BLiz 

 

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Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of Transaction Alliance
Elizabeth Spear, ABR, Ohio License SAL.2002007747

William (Bill) Spear, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

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Comments(8)

Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Bill - I remember the Sundays when every corner seemd to have an open house sign. Today, they're much more noticeable. As you point out, waiting for one is a risky buying strategy.

May 26, 2016 06:45 AM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Bill.  In a hot market waiting for the Open House means losing out on buying that home.

May 26, 2016 06:47 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Dick, They're still out there, but I think the bulk of listing agents are in the same category as us, we don't routinely do open houses.  I'm holding one Saturday for an hour, and that will be only the 2nd one I've done total in the last year.

Conrad, Some of our prime markets, the home will be sold long before the weekened.

May 26, 2016 06:49 AM
Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

That is definitely a silly way to try and see the home.  Open houses are hit or miss around my parts.  My buyer's agents do them most of the time so they can meet new potential buyers.  Go get an agent, go see the home and buy it up :)!

May 26, 2016 10:17 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Brenda, Personally I'd rather have a tour of the home without having other potential buyers looking at the same time.  Plus with your own agent, you don't have to worry about who is working for who, you already know the answer.

May 26, 2016 12:12 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

BLiz- I can't understand the thinking behind waiting for an Open House.  It's hard trying to view a home with others walking in and out of rooms.  You can't concentrate!

May 26, 2016 01:19 PM
Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Great insight here. I have always assumed that when people ask, "When's the Open House," that they're just neighbors who want to see inside. Certainly not too motivated since rarely in this market do we get to the Open House point. 

May 26, 2016 02:43 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Kathy, I know for me personally I'd rather have a less crowded viewing.

Mimi, There's certainly that category too, I'll see how many show up at our next open house.

May 27, 2016 05:48 AM