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The Expert’s Guide to Open Houses: how to use them to your advantage

September 11, 2015

When buying or selling a home, we are often tempted to try and do everything as easily as possible. This usually means getting an agency to do all of the work for you, and sitting back, relaxing, and letting everything fall into place. That is fine, but there is always more that you could be doing to help yourself out. One of the major things that people often overlook are open houses. Attending them can really help you gain an edge on the market, and you should know how to use them to your advantage. There are many ways you can utilize an open house to help you buy or sell your home.

  1. Gauge the popularity of a property

One good thing about open houses is that you won’t be the only person there. If you are, then safe to say that the house you are looking at really isn’t that great. If you are buying a home, then gauging interest and popularity can give you a better bargaining position when putting in an offer, or give you a better idea what you are going to have to spend in order to win the bid. On the flip side, if you are selling a home, then attending the open house of a similar home can help you determine what yours is worth, and what things in your home people will like or dislike.

  1. The Price is Right

Looking at prices on the web is a good way to get an idea for prices in a neighbourhood, but nothing beats getting your boots on the ground and doing research the old fashioned way. If you can attend open houses in the new city you are moving to, especially in the areas that you are thinking about moving to, then you can a great idea for how much things really cost. You can check out prices in the local area at restaurants and markets, see what gas prices are like, see the inside first hand and check out if there are any issues. It can help give you a good idea about what certain areas are offering, and if there is any flexibility on the price.

  1. See how the pros are selling

One great thing about open houses is you get to watch the pros in action. A great realtor can really make a difference. When you attend an open house, you get to see a pro in action. See which things they think are great about the place. Ask them directly what they think makes the place great. Then use that to our advantage. Together we can help frame your home perfectly to buyers on the market. No better place to go then to the people who know best.

If you aren’t attending open houses, you should be. They can be a great help to both buyers and sellers. If done properly, they can be a huge advantage. Never go it alone though. My experience in the local Vaughan area means that I can take care of everything for you, and find you the home of your dreams, or get your for sale home off of the market.

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Schuren Sriskandarajah Sales Representative

HomeLife/Future Realty Inc. Brokerage

Independently owned and operated

7 Eastvale Drive, Unit 205, Markham ON, L3S 4N8

Direct: 416.333.9393

Office: 905.201.9977

Fax: 416.981.7768

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