Open houses are a great way to garner interest in your property. They are meant to show off and provide information about the property. But, be careful you don’t give up too much information. If you are too chatty or forthcoming it may come back to haunt you when it’s time for potential buyer to make offers.
This question comes up quite a bit. Be very vague with your answer. A potential buyer doesn’t need to know you already have another home lined up or are dealing with family issues. Even if you are desperate to sell your property, don’t let on this is the case. It could cost you money.
You may have to put your tendency to gab on hold during an open house. Going on about the projects you wanted to do but never got around to doesn’t help your cause. Some people are quite clever, particularly real estate agents. A buyer’s agent is looking after the buyer’s best interest, not yours. Don’t be drawn into a chatty conversation that ends up with you providing too much information.
Some people ask how many people have shown interest in your home or how many times it’s been shown. Unless you have firm offers you don’t have to reveal that information. As politely as possible, decline to answer or try to deflect the question. A real estate agent can get that info elsewhere. A potential buyer does not need this information.
Some people want to start negotiating price as soon as they’ve seen a property, sometime before. Verbal negotiations are a waste of time. They don’t hold up in court, as they say. Serious buyers should have a written offer drawn up and presented to your realtor. Your realtor will present that offer to you and give you the option to accept, counteroffer or reject. Your decision will also be in writing. If you are asked about being willing to negotiate, that’s fine. Just don’t go into any monetary details.
You may very well have a flock of butterflies in your stomach throughout the selling process. Don’t let that fear show, no matter what happens. Your home may be on the market for a few weeks with no serious offers. It happens. You may be in a tizzy over a lowball offer and are not sure whether to accept, counter or tear it up in little pieces and burn it in your fireplace. Selling a home is a bit like playing poker. You can’t let potential buyers get a whiff of fear or get inside your head. Even if you feel like the world is coming to an end on the inside, keep your composure on the outside.