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Shut Up! Six Things NOT to Say at an Open House

By
Real Estate Agent with inactive - license is on ice with State of MN

'Tis the season..... Super Bowl is upon us, and you can almost hear the screeching of rusty hinges as millions of open house signs creak-k-k-k open. Once again, the national passtime shifts from football to that all time favorite: open houses.Guard Your Cards

If you are a serious buyer, there are things NOT to say when you visit an open house. Remember, first and foremost, the agent at the open house WORKS FOR THE SELLER.  Remarks that give away your negotiating power will be noted, and might sink your chances of later buying that home on your terms.

So, smile or scowl, or do whatever you do when you are playing poker, because these are high stakes if you end up wanting to buy this house.

What Not to Say

  1. "This is it! I just found my next house! We can stop looking!"

  2. "We don't have an agent. Can we work with you?"

  3. "We are pre-approved for $xxx,xxx."

  4. "We have watched and waited for this particular house for YEARS!"

  5. "We already sold our house and need to move in a hurry."

  6. "My parents live a block away. This is the only home close enough so Mom can help me with the kids. We have to have it."

Any of these remarks tip your hand to the sellers, and give them a clear picture of your motivation, terms, time frames, etc. These are negotiating points, so don't give them away now!

The seller's agent will be working to get the best possible price and terms for the seller. Your agent knows how this works, and watches out for your best interests. Let them do the talking. Just smile and nod.

Play your cards "close the the vest," engage the best buyer's agent you can find (ask friends and family for referrals), and you can get the house of your dreams on terms that work best for you.

Posted by

Barbara Charlton, REALTOR, GRI
License voluntarily ON ICE with State of MN
Cell/Text: 612-414-6721
Office: 952-898-5800
Fax: 612-677-3710
Barb@BarbaraCharlton.com

Comments (8)

Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

Interesting.  I am commenting so I can see what others say.

Jan 30, 2011 12:49 AM
Lindsey Hasford
Edina Realty - Elk River, MN
Bringing you home...

However, if you write an offer as a dual agency this is all a mute point isn't it? One can only use these statements to give a seller the slight of hand if the buyer is represented by a different agent than the listing agent.... unless the seller is sitting in their own open house.

Jan 30, 2011 01:18 AM
Barbara Charlton
inactive - license is on ice with State of MN - Lakeville, MN

Lindsey, you are correct if the buyer writes on the spot. Dual agency protects both parties.

However, who knows how long it will take the offer situation to evolve? What if the buyer takes a day or more to decide to write an offer? (Fairly common, I think.) 

In that case, the seller's agent has already provided feedback to the seller that they have a serious buyer, what they said, what they can afford, etc.  Sure, dual agency kicks in, but at that point the seller already has the critical negotiation info.

Jan 30, 2011 01:30 AM
Chris Mayr
D3 Interactive Marketing - Orlando, FL

Or a quote from a favorite older movie.

"This place is great Ray.  We should stay here.  Tonight."  Ghostbusters.

Jan 30, 2011 01:46 AM
Barbara Charlton
inactive - license is on ice with State of MN - Lakeville, MN

Chris,  YES,exactly!!! I sure wish I had remembered that one.....that's one of my all-time favorite movies. Thanks! :)

Jan 30, 2011 02:33 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Barbara, 

Excellent post, folks don't realize what info they give away to others.  

All the best, Michelle

Jan 30, 2011 11:50 AM
Tamara Elliott-Deering
Central Metro Realty - Austin, TX

Barbara,

You're sure making it hard on listing agents.  That's just not nice (LOL), seriously though, this is a well written post that serves as a good reminder to buyers that the listing agent doesn't work for them and is not on their side, at least initially.

Tamara

Jan 31, 2011 12:44 AM
Barbara Charlton
inactive - license is on ice with State of MN - Lakeville, MN

Thanks, Michelle!

Tamara, I know what you mean. I like to meet buyers at open houses, too, but I'd say 99% of the time we end up writing on a different house.  I do remind them that I work for the seller at the open, and what that means. And still.....they often reveal WAY too much! :)

Jan 31, 2011 01:04 AM

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