Open Houses in Phoenix Arizona are just like open houses anywhere else in the world. A seller of real estate wants to showcase their property to potential buyers. They are hoping that it’s desirability and value will resonate strongly enough with those buyers to make them want to make it their own.
The seller or the seller’s representative will be on hand to guide potential buyers around that property. They might take the buyer on a tour, or simply let the buyer walk around freely. Either way, the expectation is that the buyer has very real intent on purchasing this property, or a similar property like it, in the very near future.
Are you ready to go see Open Houses, really?
Quite often, people begin their adventures of Open House jumping without any real sense of purpose. Perhaps they woke up this morning and thought to themselves, “Maybe I should move closer to work/school/family/friends”. Perhaps it’s as simple as they’re now realizing they need a bigger house for a growing family, or a smaller one for newly empty nesters. Nowadays, a popular reason to move are people wanting a bigger yard for their dogs to play in!
Whatever the motivation, the seed has been planted and the assumption is to immediately go see some potential homes in the area.
Truth is, that person is not ready.
What if they go to the Open House right down the road and fall in love with that first home they found? If you’re in a hot market like Phoenix Arizona, many of our neighborhoods see great, move-in ready houses (especially with swimming pools) that get swooped up within the first few hours of it hitting the market. If that person did not take the proper steps to get ready ahead of time, they might fall in love and then quickly have their heart broken – all within a short few hours.
How do I get ready to see Open Houses?
The first thing you must do is find out your price range. This is critical! How do you do that? Unless you are a cash buyer, get yourself pre-qualified for a mortgage. I can’t stress this enough just how important this first step really is. For many, many reasons:
Prepare yourself now!
Secure your ability to be able to Make An Offer immediately when you find the home you love! Beautiful homes go fast. There might be multiple offers received within hours of a home hitting the market. If you aren’t ready ahead of time, the home could be gone before you even get a chance to talk to your lender about buying this home. So do it now!
But I really thought I could afford this one!
So you found your Dream House and it’s everything you wanted. It’s Perfect! Everyone’s excited and you can already see your furniture in place. Visions of creating long-lasting memories in this home that works so well for you. So you hurry and call your mortgage loan officer and excitedly describe the house you’re going to buy to them. They’re so happy for you, too. They run your credit, they gather your income documentation, they process your application….. but you can’t qualify for a mortgage high enough to buy this home. You’re going to have to settle for a lesser home. Dreams crushed. Start over. Please, avoid this from happening to you. It’s not a good feeling, for anyone. Get pre-qualified first!
Everything is too expensive?
At the other end of the spectrum is the person who is out looking at homes and not finding anything they like in “their price range”. They used the “mortgage calculator” on a website and thought they could only afford what they were looking at. Suddenly, after speaking with a mortgage loan officer and getting pre-qualified, they find out they can comfortably afford homes in a better price range! Look, interest rates change and might actually be better than a real estate website’s “default” settings that haven’t been updated in perhaps a year (or more!). Most importantly, loan officers are professionals. They might look at your credit report and identify easily fixed items that could boost your FICO score enough to get a lower interest rate, lesser monthly payments, and greater buying power for you! Oh Happy Days! Get pre-qualified.
One Last Step
Having an experienced REALTOR on your side accompanying you to Open Houses is very important. Realize that other agents holding an Open House are working for the seller of that home. Their job is to talk you into buying the house where you met them. They won’t get paid unless that home is sold! They are chomping at the bit to get you to sign a purchase agreement right now, with them!
Did you know:
A seller will pay directly to the broker of the listing agent any commissions owed. If any commission is owed to the selling broker, it will then be paid by the listing broker. You don’t pay it. If there is no buyer’s agent, the listing broker gets to keep the whole commission themselves! The seller likely isn’t receiving any benefit at all if you don’t have your own agent working for you. The seller’s agent doesn’t work for you. They work only for the seller. In that scenario no one is looking out for your best interests! Since a buyer’s agent is usually free to you to have working for you – why wouldn’t you have one?
Homesfield Agents in Arizona
The Homesfield Agents of West USA Realty specialize in being Buyers Agents. Call or Text us at (602) 290-6217 and we would be thrilled to help you get started. Thank you!
Now You’re Ready!
- Your home lender or loan officer has prequalified you for a mortgage.
- You found a Buyer Agent Realtor that you are comfortable with, perhaps the Homesfield Agents of West USA Realty (602) 290-6217.
Make your dream of owning a new house become a reality. Now you’re ready!