An open house can often open the doors to homebuyers who otherwise may have never taken a peek inside. For some, an open house is a way to “feel out” the local realtor or real estate market while for others an open house is simply a way to get ideas for a dream home. Whatever the case, prospective buyers will find their way to your listing.
Regardless of what brings buyers in, you’re likely to field some tough questions during an open house. Here’s how to overcome them.
1. Know Your Market, Know Your Buyers
The #1 key to hosting an open house and being able to field tough questions is to know your market like the back of your hand. Understand the demographics of the people you’re hosting and be able to anticipate the questions they have about the home, your local market, and everything else related to real estate under the sun.
2. Prepare In Advance
Prepare for challenges by providing any and all documentation that will back up the readiness of your home to sell. Hardball buyers are likely to question the quality and readiness of mechanical aspects of the home as well as pest control and structural integrity. A professional way to deliver that documentation could be to provide a well-put-together binder of all the necessary certifications, inspections, and documentation you would need to defend your stance.
3. Take the Emotion Out
For folks looking to purchase a home, and especially at an open house, they will likely be giddy with excitement about the prospect of their purchase and being at the open house. What’s important to remember is not to match emotion with emotion. While your prospective homebuyer may very well have child-like excitement, it’s important to keep them realistic and grounded about the decision ahead.
4. Be Ready to Talk Options
Let’s face it, only one family can purchase the open house you’re hosting, and for many, that particular listing won’t be right for them. Be prepared to offer options on other listings you have available that may very well be a better fit for those “other” visitors at your open house. Maintain a scrapbook of sorts for your other listings, and be ready to direct buyers to other options.
5. Make your House a Home
This may go without saying, but making an open house truly feel like a home will add to the allure of the listing and may even add curb appeal and value to a buyer. Going as far as to provide plenty of treats and eats to make visitors feel more comfortable can certainly help to make the house more appealing, welcoming, and feel like a real home. Plenty of homey furnishings can add the necessary touch to help potential buyers see their life in your home.
While, of course, you aren’t in charge of financing anyone’s home buying venture, it should be your job to direct them to the people who can. Do your research leading up to your open house, know where the housing market stands, and be ready to offer a firm answer for where a homebuyer can go for financing.
Even if you’re not sure of the best financing instrument for your client, the professional loan officer’s representatives at Tidewater Mortgage Services can do that part for you. Additionally, a serious buyer at your event can be prequalified for financing the same day they call. Meaning? You can sell your listing with very little turnaround. Give Tidewater a call today and close the deal at your open house.
