What is an Open House?
Realtors will host an open house event for active property listings, which offer the public an opportunity to tour homes for sale without the need of scheduling an appointment. Although real estate agents are welcome to accompany their buyers, it is not legally necessary since there will be a licensed agent present.
Typically, Open Houses will fall on a weekend afternoon for about two hours. When an agent enters the Open House in the multiple listing server, all the third party real estate sites will post the event as well, meaning finding scheduled open houses online is fairly easy. You may also download the Main Street real estate App to find open houses near you:
Most Realtors will also put up Open House signs around the neighborhood along with balloons or flags to notify the public of the event.
3 Reasons why you should tour Open Houses
- You can always update a house, but you can not change your location! Choosing your location is one of the most important steps in house hunting. Before you spend too much time touring homes, you should narrow down what neighborhoods best meet your needs. Popping into Open Houses is a great way to research different areas. You can talk to a few different real estate professionals about the area, types of homes for sale, local events, local restaurants, commuting options, etc.
- Are you thinking about selling? Checking out Open Houses in your neighborhood is always a good idea! It allows you to see what your competition is and how properties compare to your own. This will help you think about what tasks need to be done to get your home ready to sell. It is also a great exercise when trying to determine the fair market value for your property. Your Realtor will run all the comps to guide you with pricing, but having toured the homes will give you more confidence in deciding what price is right.
- Touring Open Houses help you determine your wish list! This is especially true for first time home buyers who are trying to work through their ‘Must Have’ list. Walking through properties on the market will help buyers visualize their lives in the spaces available. Do we really need 4 bedrooms? Do we want/need that fireplace? Do we prefer hardwood floors, or wall to wall carpet? How much yard do we need? Are we OK being on a busier street, or do we need to focus on only quiet streets?
You may surprise yourself and walk into your dream home! If that happens, make sure to get a Realtor on your team quickly and discuss a plan of action moving forward.
Stay tuned to our social media and website for updated Main Street Realty Open Houses!