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Misconceptions About Open Houses

Randal Engelmann & Erik Gould

We are Randal Engelmann and Erik Gould, partners in providing exceptional customer service...

We are Randal Engelmann and Erik Gould, partners in providing exceptional customer service...

Aug 27 7 minutes read


Top 3 Open House Misconceptions & How to Get Your Offer Accepted



Erik:
Stay tuned for the three biggest misconceptions about open houses.

Randal:
Welcome back to Stay Focused, Focus Real Estate's weekly video series. There is so much that happens in our marketplace at open houses, we thought we'd give you a little back-end guide to what's going on.

Erik:
And now that we're past the peak of COVID, we're doing open houses again.

Randal:
And a little bit from our end, as the agent's perspective as we're looking out. And we would always love to hear about what you think about open houses. But we're going to give you a little feedback on...

Erik:
Three of the biggest misconceptions-

Randal:
Open house. First one is...

Erik:
Public open house. That's how we bill them. That's how they're advertised. It's really not a public open house.

Randal:
It's a private residence. So kind of, I think a lot of people come to open houses like they're going to Kmart. It's not. So treat it a little bit more gently than you would a normal public place and you might see better results.

Randal:
The second misconception is that you're alone by yourself in the house. Often you're not. Try to remember, it's likely with today's technology, somebody's listening.

Erik:
Or watching.

Randal:
So be careful when you're going through open houses. That being said, though, don't be afraid to speak out at an open house because as an agent at an open house, I don't want to hear, "I love it. I love it. I love it." I'd love some feedback [crosstalk 00:01:27] open house.

Erik:
Honest but respectful.

Randal:
Honest but respectful feedback. The third misconception of an open house is that the seller's agent that's hosting the open house is your enemy. Actually, turn that around. Your seller's agent, the seller's agent at an open house, can actually be your best advocate. In this competitive sellers' market today, sellers want to know what was the buyer like? What did they come across? Were they nice? What did they have to say? So you can actually put the seller's agent to work for you when it came to getting your offer accepted if you're really pleasant when it comes to signing in, helping them cooperate through getting people through the open houses, people are still a little shy about that.

Erik:
Following any requests or directions they have. And remember that yes, the seller's agent or the agent working there may be working for the seller, but you can ask them questions too. So be pleasant, schmooze with them, ask them questions. You don't know what they might answer.

Randal:
So treat them like a friend and an advocate for you. Anyway, a few misconceptions and tricks to help you get your offer accepted in this multiple offer climate.

Erik:
Hopefully you found those tips helpful.

Randal:
We'd love to hear from you to give us some feedback from open houses from the buyer's end. And until next time, stay tuned and stay focused.

Erik:
Sounds like a drag queen name, Miss Conception.

Randal:
How do we even go on after that.

Erik:
[inaudible 00:02:54].

Randal:
He's never this funny at home.

Randal:
Could this be the time you've been waiting for? Stay tuned.

Erik:
Welcome back to Stay Focused, Focused Real Estate's weekly video series and this week we are talking about ...

Randal:
Timing.

Erik:
Timing.

Randal:
This is going to be a timely one, this video on timing, and we're talking in the month of July, right? So here we are 2021. I have to say, 20 years of real estate experience, this is the most aggressive real estate market I have ever seen in my life. What we experience every single year is a slow down when it gets nice. I'm sure you've heard this video from me before

Erik:
Especially in New England. Our summer seasons are very, very short, people like to take advantage of that.

Randal:
And there's still inventory out there so we've experienced very slow, very short amount of inventory in this last season, that's what's driving this craziness but we're actually starting to see a little bit more inventory building up-

Erik:
And a little bit of slowdown of buyer activity.

Randal:
So both as buyers and sellers. Buyers, is this the time you've been waiting for? Do you have less than cash to pay for a house or 20% down or any of those things, not willing to skip home inspections, that kind of stuff? If you're a little bit more of those conservative buyers with a little lower down payment, this could be the time that you've been waiting for because we certainly aren't going to shy away from a lower down payment because we know that you're qualified, but we understand that in a multiple offer situation that isn't as desirable to a seller.

Erik:
Timing may not quite be as competitive as it was a month or two ago.

Randal:
Right.

Erik:
And a little more opportunity for buyers.

Randal:
And this also speaks to all of our sellers out there, right? So all of our sellers out there that are afraid to make the move because they're afraid of being stuck homeless, I'm just going to call it what it is, this is a little easier season for you as well. There's still plenty of buyers out there, there's still great activity, and at the same time, it's a little softer market so when you're going to make that purchase, it may not be as competitive of market as we've experienced for the last few months, creating an opportunity.

Erik:
They spring market established new highs in our market. Great for sellers. You might not get as many offers, but you still are getting that new high, those comps are out there, the new prices are out there.

Randal:
This could be the time you're waiting for it. Anyway, give us or any one of our agents a call or drop us a line and let us know how we can help you make the decision if this is the right time for you to buy, sell, or make a transition in the marketplace. Thanks for watching everybody and until next time, stay tuned and stay focused.

Erik:
Stay tuned and stay focused.

Erik:
You can't win, can you?
 

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