Dear David,

We are relocating to KW and thought we’d kick off our house hunt by visiting open houses. I recall these used to be scheduled at very similar times across the board, which made it easy to get a sense of the market. Open house timing these days seems much more haphazard, which is making it hard for us to get our bearings. What should we do? – OVERSCHEDULED

DEAR OVERSCHEDULED: Checking out open houses is a way to dip your toes into the real estate market, but you are correct in observing that these presentations are not as regimented as they used to be.

Back in the day, open houses were listed in newspapers and agents planned the dates far ahead to make sure they were advertised. To keep things easy and predictable, they were typically booked at the same time each week. Fast forward a decade or two to an era when information travels in real time, and things tend to move much faster. Today’s agents can book an open house the night before and still get plenty of visitors, so open house scheduling has grown more fluid than it used to be. 

Here’s the thing about open houses: only a small percentage of listings offer them, and a very small percentage of buyers end up finding a home this way. Open houses are a strategic way of  generating exposure for the listing and new clients for the agent, as much as they are about selling the property. 

If you are brand new to the real estate market and looking for a low-commitment way to indulge your curiosity without engaging an agent, open houses are the perfect outlet – which is why some people love them. When you are serious about buying a home in an increasingly competitive market, relying too heavily on open houses can put you at risk. As you casually walk through one house, a more suitable property across the street could be getting an offer, which means any agent who has shown it will receive instant notifications through their automated booking system. Casual buyers like you won’t get the heads-up, and you’ll end up missing a shot at your dream home without even realizing it.

PRO TIP: If you are serious about buying a home, partner with an experienced agent who will show you the inventory that meets your criteria, share alerts in real time, and avoid missed opportunities. Open houses are a fun and easy first step for buyers, but relying on them too heavily could end up hurting you. You’ll be out of the loop, and if you happen to chat up the hosting agent, you run the risk of weakening your negotiating position by inadvertently sharing how much you like the house or why you want to move. #Advice #AskDavid #TheNegotiator

David is a top-selling Broker in Kitchener-Waterloo Region. He works personally with you when selling or buying your home. Moving? Get it right. Call or text David at 519-577-1212.