The open house is the original reality show.
Sellers get to sing the phrases of a home they've loved.
Potential buyers get to dream in real time, in the very same space they may one day occupy.
The grand prize is a cornerstone of the American Dream.
Homeownership.
But it's not just a game for sellers and buyers currently in the market.
Being a looky loo is acceptable, advantageous and well-advised.
If you know you will one day sell, you should also get in on the game to examine the competition to level the playing field long before you list your property for sale.
Here's why you really do need to keep up with the Joneses and how to do so at an open house.
- Get home improvement clues. You want your home to be as contemporary as the competition, without over doing it. If they've upgraded their kitchens you'll be wise to follow suit. Conversely, if no one has added a swimming pool, you don't want to take the plunge either.
Learning what the neighbors have done will help you prioritize what improvements you need to do -- or not. You needn't copy your neighbors brush stroke for brush stroke, but you do want to keep up and make your home as up to date as the others.
- Spying can be good for your decor. If you live in a neighborhood where many homes have similar floorplans you can lift lessons in furniture arrangement, color and pattern use, lighting, accessories, what improvements and additions work and what doesn't work.
- You can vet a real estate agent. And open house allows you to see an agent with his or her boots on the ground. Is he or she too overbearing and pushy, aloof and distant, or attentive and informative? You want to see the agent sell the home she or he is hosting, not pushing his or her other listings -- unless, of course, the potential buyers ask for other properties. In addition to check an agent's work skills, it's also an opportunity to check his or her personality to determine if you can work together.
- Make sure your price is right. Open house events include fliers and other printed materials that describe the home and include its price. You can use them to collect comparables. Public records may not be up to date, leaving out improvements, the seller is happy to reveal to support their price.
- It's an opportunity to get a closer look at your neighborhood. If you haven't started a family, you can get some clues about local schools. Neighbors know about crime, proximity to attractions and events and other neighborhood issues you may have overlooked. If you work at home, you may not be aware of commuting conditions and proximity to commute routes.
It's a good idea to reveal you are a looky loo. Sign in along with the real buyers. An experienced agent wants clues about any interest in the property, hopes you will give the listing some word-of-mouth and may even ask for feedback.
Also, knowing you are just browsing will free him or her up to spend more time with real buyers.