Dreaded Open House Questions

Dreaded Open House Questions

1. How long have you been looking?

Why I'm asking: I'm trying to gauge how serious you are.  If you've been looking for only a short time, say a few weeks, I will understand that you're just getting your feet wet-that you're still gathering your thoughts.  If you've been looking for months, then I might dig in.  That tell me you've seen a lot, but you haven't found what you're looking for.  I'm wondering why you haven't pulled the trigger and, hey, maybe this is the house you've been waiting for.

How you should answer: Be honest and specific.  This is harmless information. 

2. Are you working with an agent exclusively?

Why I'm asking: Real Estate Agents are trained to respect boundaries.  If you are already represented by an Agent, I cannot try to represent you.  This question sets the tone of the conversation.  Don't be surprised if I ask who your Agent is.  I personally know most other active Agents.  This way I can call your Agent-not you-for your feedback.  You are insulated by your buyer broker agreement with the other Agent. 

How you should answer: If you're working with an Agent, say so!  Even better, give me your agents name and brokerage company.  This protects you from having to give your personal information to me.  This way you can sign in with your name and Agents contact information.  That's all I need to follow up.

3. How does this house compare to others you've seen?

Why I'm asking: Now that I know how long you've been looking, I want to get a sense of whether this house is a contender.  I'm also assuming that you're touring other houses nearby (other "comps," as they say).  I want your honest insight on whether my listing is better or worse than the others.

How you should answer: Be honest.  If the house around the corner has a remodeled mast bath and this one doesn't, point that out.  If you think this house could use some work, let me know.  Remember, being honest about the houses won't hurt my feelings.  Of course I care about my listing, but, unlike an owner, I'm not emotionally attached.  This is one reason for sale by owners is difficult. 

4. Are you specifically looking at this neighborhood?

Why I'm asking: I'm not being nosy here, I want to know how focused you are.  I want to rule out the looky-loos and focus on the serious buyers.  If you are looking in a particular neighborhood but not interested in making an offer on my listing, you've caught my attention.  I need to understand what other listings have that mine doesn't.  Now I'm focused on knowing your trigger: Are you focused on certain streets within the neighborhood?  A certain style of house?  Or is it all about price?

How you should answer: Be specific.  If your focused on that neighborhood, it's OK to say so.  If your open and still getting your bearings straight, it's OK to say so.  These answers provide depth for me when I'm talking to the seller ( example-"The open house was great! I had a buyer walk through who has been looking for a while and she only looking in this neighborhood.")  This tells the seller there are buyers out there-and that adjustments may have to be made if those buyers aren't buying this home.

5. What do you think of the price?

Why I'm asking: This is probably the most important question, but it may not be the first one out of my mouth, because I want to establish rapport first.  I know that people are usually guarded when it comes to price.  I want you to give a thoughtful answer, not a flippant one.

How you should answer: Now, this is tricky.  If you're not really in the market to buy, or can't compare it to other houses on the market, don't just throw out a number.  Simply tell me you haven't seen enough to give an educated answer.  If you feel you can answer, say something like " I think it's priced competitively" or "It's priced to high."  The point is not to give a dollar figure but to offer general perception.  If you believe it's a good deal, say that.  If you think it's overpriced, say that.  Because if the house is overpriced, I will call you once it's reduced if your interested in the house.

6. Are you considering making an offer on this home?

Why I'm asking: Please don't take offense!  I have a job to do, and this is a valid question.

How you should answer: As a prospective buyer, remember: You hold the power.  If your're planning to make an offer, it's good news to me and lets me know to expect something in writing.  It also might help you if the house is in demand so I will know there are multiple offers coming  in. That way, I may not start negotiating without first getting your offer in hand.  To some extent, this buys you some time to call your Agent, if you are currently working with one, and get your offer submitted.  If you're not planning to make an offer, it's fine to say that, too.