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Hosting open houses is a fantastic way to attract potential buyers and drive traffic to your listings, especially if you’re just starting in the industry. It’s your opportunity to showcase properties, generate interest, and meet prospective buyers face-to-face.
However, open houses can be a bit overwhelming, especially when buyers come armed with questions. To help you feel prepared, here are 24 essential questions you should be ready to answer during your next open house.
1. Why are they selling?
Many buyers are curious about the seller’s motivation. While you don’t have to divulge everything, having a simple answer can ease their concerns.
2. Is the price negotiable?
While negotiating is part of your role, it’s best not to answer this question directly. Instead, encourage buyers to submit an offer, assuring them that you’ll present it to the seller.
3. What school district is the house in?
School districts are often a major factor for buyers. Be prepared with details about the district and specific schools. If they ask if it’s a “good” district, it’s wise to suggest they check online ratings instead of giving a direct opinion.
4. Is the home part of an HOA?
Buyers will want to know about any Homeowners Association (HOA) involvement. Make sure you’re aware of any fees or special assessments associated with the property.
5. How much are the taxes?
While the estimated tax bill is likely on your MLS sheet, it’s a good idea to have a rough annual figure in mind. You can obtain this from the seller or county records.
6. How old is the roof?
Both new and experienced buyers want to know about the roof’s condition. Be sure to know when it was last replaced and the type of material used, as well as any transferable warranties.
7. What is the electrical service amperage?
Buyers may inquire about the electrical service’s amperage, especially if they plan to use newer, power-hungry appliances. Most homes have between 100 and 200 amps, but some older houses may have only 60.
8. When does the seller want to close?
Understanding the seller’s preferred closing date is crucial, as some may want to close quickly while others may need more time.
9. Does the house need any work?
This question can be tricky, but you should be ready to discuss any known material defects and repairs that may be needed.
10. Has the owner made any updates?
Familiarize yourself with any major updates or renovations the seller has made, both functional and cosmetic, to better position the home.
11. What’s the fuel source for the heat?
Buyers will often ask about the heating system’s energy source—be it electricity, oil, or natural gas. Sellers usually have this info, but if not, check county records.
12. How old is the water heater?
Although water heaters aren’t a significant expense, knowing their age is important, as older units can lead to headaches if they fail.
13. Is the house in a flood zone?
With increasing awareness of flooding risks, buyers may ask about flood zones. Use the FEMA Flood Map Service Center to check if necessary.
14. What’s the seller looking for in an offer?
Some sellers prioritize price, while others may value a quick closing or fewer contingencies. Understand what’s most important to the seller.
15. What are the estimated utility costs?
Buyers often ask about utility expenses, which aren’t typically disclosed. Be prepared with average figures for electricity, water, gas, etc.
16. Are there any liens on the property?
A clear title is crucial for buyers. If you know of any unsatisfied liens or tax issues, answer honestly.
17. Have there been any leaks?
Leaks can be damaging and costly, so be ready to discuss any history of leaks from roofs, foundations, or plumbing.
18. Are there any underground oil tanks on the property?
Buyers may ask about underground oil tanks, which were common until the 1980s. Know if any are present and the potential implications.
19. Is the seller willing to include any furniture?
Sometimes buyers fall in love not just with the home but also with its furnishings. Be prepared to discuss whether the seller will include any furniture.
20. What types of financing will the seller accept?
Buyers planning to use non-conventional financing (like FHA loans) will want to know what types of financing the seller is open to.
21. When was the HVAC system replaced?
Buyers often ask about the age of heating and cooling systems due to the potential costs involved. Check for manufacture dates on the units.
22. Sewer service or septic tank?
Knowing whether the home is connected to city sewer or has a septic tank is important for buyers, especially regarding maintenance.
23. Why hasn’t the house sold yet?
Inquiring about why a property hasn’t sold can arise, especially if it’s been on the market for a while. Be ready to provide insight.
24. Have there been any issues with pests?
Buyers will likely want to know about past pest problems, so be prepared to discuss any history of rodents, termites, or other pests.
These 24 questions will not only help you understand what buyers are looking for but also encourage important discussions with sellers to gather necessary information. By being well-informed, you can position yourself as a trusted resource for your clients—current and future.
