Open house inspections or open homes have long been a staple in real estate history for as long as I can remember.
There are a few agents who swear against them but for most, the Saturday morning open home run is somewhat a right of passage if you’re entering the real estate selling scene.
It’s a weekend ritual that many a real estate agent, Buyer and Seller, engages in.
So why then SHOULDN’T you as a Buyer, be inspecting a house at this time?
Well, lets start off with reason number 1.
The agent will usually arrange the open house time at the “best” time that showcases the property in its “best” light.
In other words, the selling agent is going to pick a strategic day and perhaps even time, to open the house to the public so people see it at it’s best.
Lets say the property is on a busy road. If the sales agent is clever, they will never schedule an open house during peak or rush hour. The traffic would kill it!
Instead, a Saturday morning 9am inspection time may be the quietest time to invite prospective buyers.
See where I’m going here?
Reason number 2.
You’ll be rushed through like a herd of cattle and have little time to really check out the place or ask the questions you want answers to.
Most open home inspection times are held in half hour or 45 minute time slots.
This is usually because the selling agent has a lot of properties to get through on a Saturday and so will schedule them to run one after the other.
The trouble with this is, it’s on their time and not yours.
If you’re planning to inspect a few houses on a Saturday, you might be rushing like mad to get to all of them in ample time, and will likely have limited time at each.
In other words, you’ll feel rushed, and not really get a good sense of that home or be in a position to ask the agent all of the questions you’d like answered.
If the open home is crowded with other buyers, the selling agent will be attending to all of their queries and you may not even get a chance to speak to the agent at all.
Worse still, it can be incredibly frustrating when you’re inspecting a property (particularly a small home where the living spaces and bedrooms and compact) and you feel like you’re having to concentrate on wading your way through a sea of other buyers rather paying attention to the actual property.
It’s very uncomfortable for a buyer when they’re having to dodge other people at the inspection.
Reason number 3.
You might even miss out on the place altogether.
Have you ever turned up to an open house inspection only to be told by the agent that the house is already under offer or under contract? Talk about frustrating!! You just want to kill the agent yeah?!
If this particular property you are planning to inspect at the open house is a cracker of a place, and appeals to many buyers, it will likely be snapped up before it even hits the open market (probably by a Buyer’s Agent like myself!); let alone be still available by the first open home inspection.
Snooze you lose in real estate and as a Buyer looking for your new home or investment property, you need to be ahead of the market as best you can.
This means being in the know when a property that matches your Brief is about to be listed for sale.
I show you how you can do this, and get ahead of the other buyers in the market in my Online Masterclass Course – The WENDYRUSSELL First Home Buyer Startup E-Kit.
So stop missing out and get into your new home sooner.
Check it out at HERE.