Open Houses in Hawaii are a given. We market the property through advertising in the newspaper for our Open Houses and everyone (from buyer's to neighbors to people who are thinking of selling their home in the same area) attend these Sunday events! Yup...Sunday events!
Buyer's can use Open House's as part of their home search (along with the private appointments your realtor sets up) so following are some guidelines (I call these the lucky seven) for buyer's while at an Open House:
1) Look at properties in your price range! Make sure you are pre-qualified with a local lender (your agent most likely already made sure you have) and look at properties 10 -20 % above and below your price range. Looking at properties way above your price range (that you can't live without) will no doubt stick in your mind forever so be realistic. (or keep reading those Fine Homes and Estates magazines)
2) Remember, the agent who is holding the Open House has the Seller's best interests at heart. A lot of home buyer's "believe" that they are going to "get a better deal" if they deal with the seller's agent directly. The truth is that you are best represented by having your own agent (buyer's representative or buyer's agent) and the agent who is hosting the Open House has one thing in mind. To get the best terms and deal for the seller.....NOT YOU.
3) Remove your shoes! Wear slip on/off shoes. We all remove our shoes before entering a home here anyway but for those of you who just came from the Continental U.S. who are not used to this please have the courtesy to remove your shoes. The seller may have already had their carpet professionally cleaned and would like to keep it clean for not only this first open house but for future ones as well. (and we may have just had a rainy season and they may not want mud tracks throughout their home)
4) Keep ahold of your children. Instruct them to not touch anything or wander around the yard by themselves. And all real estate agents tie up unruley kids (just kidding)
5) Register in the guest book. But give your agent's card, phone number and email address. Otherwise, you will have every agent in the world calling and clogging up your email (unless you like a bunch of spam)
6) Make a list of wants and needs. And then compare it to the property. Make notes! You'll know when you walk into "your" home if you use your head (needs) and heart (wants).
7) Call your own realtor if you see a property you like and want to put in an offer! Your agent will be able to speak to the seller's agent and get any special terms and addendums before writing up the offer. Resist the urge to talk to the seller's realtor and worse yet...the owner! Your own agent is the most valuable negotiating tool and bargaining power for your transaction.
8) Info on Traditional Loans. Though there are "honest" loan officers/lenders that are "helping" with any questions regarding loans at an Open House, remember that the Open House is so you can view and get more information on the property and "feel" if this is the right home for you. If you already have a realtor then you most likely were already pre-qualified or pre-approved. If you tell the agent and loan officer you already have an agent and loan officer and they become pushy this is a red flag.
Browse through our: HONOLULU ADVERTISER SUNDAY HOME SECTION
Here in Hawaii, buyer's will go to Open Houses without their agent's and still try and negotiate with the seller's agent. Otherwise, they will call their agent and the agent will contact the seller's agent to let them know they are putting in an offer. My point is that the agent holding the Open House represents the seller, and though they might "snag" a client while holding an Open House (so they can represent both sides or find another property for the buyer) the MAIN PURPOSE for an Open House is to MARKET THE PROPERTY FOR THE SELLER!
Steph: Watch what? Who knows? Only you know what will work in Houston! Do you folks have Open House? I just got a lead a few days ago from my posts and contacting me through AR. First one, but hey, it works! That's why I did this one again.
Did you notice my comment posted twice.....?
Steph: So many scenarios!
1) Agent asks listing agent to do open house so they can snag a buyer. (If the buyer does not have an agent then showing agent can snag; if buyer has an agent they will contact listor to let them know they are interested)
2) Listing agent does their open house (like I do) to market and sell the property. (If buyer does not have an agent the listor can create a dual agency and represent both sides....or find them other property as well)
3) Buyer has an agent but tries to negotiate with the seller's agent to "get a better price". No dice. Seller's agent is working in the best interests of the seller.
4) For me, as a listing agent and doing and Open House...if the buyer is interested in the home and does not have an agent...I will refer it to another agent in my office and still only represent the seller. I PERSONALLY do not represent both sides...too sticky for me.
5) I mainly gear posts like this for public....and for specifically our market. If one reads the complete article it states 'Hawaii's Sunday Open Houses" are like our Sunday events" Open Houses sell our homes as much as agents making showing appointments.
Throughout posting this blog (three times) I have had many comments along the way...but never one that said there are statistics and it may pertain nationwide? Nor have I heard that Open Houses (HERE) are moreso for snagging buyer's than marketing the home. Hmmmm....this was a long comment!
Sounds like you have it going good for you. Great work
Ben
Phil: Too many military who just got here...staying at base hotel or hotel and have no babysitters....it's not uncommon and it's not a big thing as long as they keep an eye on them!
Ben: Thanks for stopping by
Danny: Drop on by!