The Purpose of the Open House
The Open House was created for consumers to view homes currently on the market. A consumer can walk through a home and get an idea of what homes are selling for in a particular town. It is a great way to familiarize yourself with a market prior to starting to shop for your home. If you drive around on a Sunday afternoon, you are bound to see ‘open house’ signs strategically placed near the road pointing you to homes that are for sale and open for all prospective buyers to walk through freely without the assistance of a real estate agent. There will be a listing agent and possibly other licensed agents on hand but you as a buyer are free to inspect these homes without your own agent. You will also see FSBOs holding their own open houses without the help of an agent. Regardless of the format, the goal is the same – to get potential buyers into the home to look around and possibly come back for a second and private showing or even make an offer on the home.
These open houses are great tools for buyers, particularly to those who have just begun their search and would like to view homes without a buyer’s agent from findnjhouse.com. If you are not ready to view homes one on one with us, or if you are not settled on a particular neighborhood or community then open houses are a great source to familiarize yourself with a particular town’s market. . Getting into homes without having to set up showing appointments and get pre-approved by a mortgage lender is a great way to see specific homes in certain areas and get a handle on the general condition, interior design and exterior qualities of homes.
You may not have the opportunity to ask important questions of the owner or agent depending on how busy the open house is, so save them for an official showing set up by findnjhouse.com at a later date. If the home is in a highly desirable neighborhood and the open house is packed with people then try to get that showing scheduled as soon as possible by contacting findnjhouse.com. If you are interested in possibly purchasing the home please let us know as soon as possible so we can completely analyze the home and help you determine an asking price/offer.
REMEMBER: Listing agents have been hired by the home owner and they are required by law to sign a Consumer Information Statement stating that they represent the home owner and have the fiduciary responsibility of representing the home owners best interest. They are not there to represent a potential buyer. So to rely on their judgement leaves you open to the pitfalls of Dual Agency.
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