There are a few good reasons to attend an open house, as nearly half of buyers do. The biggest benefit is that you can learn from the crowd. Pop in during the last hour and check the sign-in sheet for the number of visitors; a throng indicates a competitive market. Plus, curious neighbors often drop by, so it’s a great opportunity to ask questions about the community.
- Pick the brain of the listing agent to get their take on what’s happening in your area. Real estate agents tend to be aware of market changes early.
- Going to open houses will allow you to see styles and designs- even if you’re not looking to sell, you may get some design inspiration.
- Although getting referrals from friends is good. seeing the finished product in an open house can inspire you to replicate what that owner did- and how.
“Would-be sellers and nearby homeowners represent a large portion of open house traffic. You can use the open house not only to see what’s for sale and the price of comparable homes, but also to learn about the market.”