Be Prepared to Field these Questions at an Open House

Real estate marketing can sometimes leave you feeling a little hot under the collar – especially during open houses when negative aspects of a home are brought to light with a few creatively formulated (or intelligently devised) questions. How well prepared are you for your showings?

How you handle these questions could make or break a sale:

How much interest have you seen?

Here, buyers may want to make an offer (or avoid wasting time) on a home that could potentially undergo a bidding war, or they may be fishing for leverage. Longstanding listings offer a better chance at price negotiations, whereas a home with an offer (or multiples) indicates fierce competition and a need to act fast.

Any recent improvements?

Those fishing for improvement info or 'the shape' of the home are attempting to foretell potentially expensive maintenance and improvement needs. Keep in mind that some aspects of building condition will be part of disclosures and due diligence, but buyers may use this as a litmus test for your ethics.

Could you tell me more?

Be careful what you mention first. Always keep in mind that what's NOT said can indicate weaknesses. (Are you harping on a magnificent location to mask the home's condition?)

When do the sellers need to close?

A major sticking point in the buying process, you need to know this information. There's no 'right' answer – but you need the honest truth.

What do utilities run?

Essential to avoiding budgeting pitfalls, this information can only be provided by the owner. If the numbers are good, bill copies (sans personal information) may be a great tool.

How's the neighborhood?

The Fair Housing Act prohibits discrimination based on race, religion, sex, or family/economic status, making this one especially tricky. Point buyers to trusted realty search engines to decide if the home meets their personal demographic essentials.

To view the original article, visit the Properties Online blog.