Open Houses in Hawaii are a given. We market the property through advertising in the newspaper for our Open Houses and everyone (from buyer's to neighbors to people who are thinking of selling their home in the same area) attend these Sunday events! Yup...Sunday events!
Buyer's can use Open House's as part of their home search (along with the private appointments your realtor sets up) so following are some guidelines (I call these the lucky seven) for buyer's while at an Open House:
1) Look at properties in your price range! Make sure you are pre-qualified with a local lender (your agent most likely already made sure you have) and look at properties 10 -20 % above and below your price range. Looking at properties way above your price range (that you can't live without) will no doubt stick in your mind forever so be realistic. (or keep reading those Fine Homes and Estates magazines)
2) Remember, the agent who is holding the Open House has the Seller's best interests at heart. A lot of home buyer's "believe" that they are going to "get a better deal" if they deal with the seller's agent directly. The truth is that you are best represented by having your own agent (buyer's representative or buyer's agent) and the agent who is hosting the Open House has one thing in mind. To get the best terms and deal for the seller.....NOT YOU.
3) Remove your shoes! Wear slip on/off shoes. We all remove our shoes before entering a home here anyway but for those of you who just came from the Continental U.S. who are not used to this please have the courtesy to remove your shoes. The seller may have already had their carpet professionally cleaned and would like to keep it clean for not only this first open house but for future ones as well. (and we may have just had a rainy season and they may not want mud tracks throughout their home)
4) Keep ahold of your children. Instruct them to not touch anything or wander around the yard by themselves. And all real estate agents tie up unruley kids (just kidding)
5) Register in the guest book. But give your agent's card, phone number and email address. Otherwise, you will have every agent in the world calling and clogging up your email (unless you like a bunch of spam)
6) Make a list of wants and needs. And then compare it to the property. Make notes! You'll know when you walk into "your" home if you use your head (needs) and heart (wants).
7) Call your own realtor if you see a property you like and want to put in an offer! Your agent will be able to speak to the seller's agent and get any special terms and addendums before writing up the offer. Resist the urge to talk to the seller's realtor and worse yet...the owner! Your own agent is the most valuable negotiating tool and bargaining power for your transaction.
8) Info on Traditional Loans. Though there are "honest" loan officers/lenders that are "helping" with any questions regarding loans at an Open House, remember that the Open House is so you can view and get more information on the property and "feel" if this is the right home for you. If you already have a realtor then you most likely were already pre-qualified or pre-approved. If you tell the agent and loan officer you already have an agent and loan officer and they become pushy this is a red flag.
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Sally, I loved reading this. How interesting that Open Houses do so well in Hawaii. Right now in Miami an Open House is a big waste of time. I've spent tons of money advertising. called neighbors, offered scrumptious food. Nothing! These are great tips for your buyers. Best of luck with the Open Houses!
I think it may have to do with my wonderful personality as well (haha!) I had heard on the "mainland" (is what we actually call continental u.s.) that there are hardly any Open Houses like we have here. It's just like a big party and everyone wants to see what each looks like. I think it may have to do with our island being small as well????
Good evening Sally,
I agree with Maggie, being from the same area, most agents do not wan to do them period, I have not ever sold the home an open house was held at...however I have picked up clients for other homes because they were willing to work with me.
I really don't care if I (personally) sell the home while I do Open House...just the exposure (because the majority of agents send their client's out on Sunday's unless they come with them) for our small knit Oahu community brings in offers.
Bottom line....it's the Sunday weekly event!
Neal:
P.S. When I say I don't care if I sell the home....I meant (representing both sides) In any case, when you get out here (one day) you'll understand what I mean. Hey....we have a 12 pg. DROA with Addendums! I'll write more as I go along about the differences with real estate here and over there....
I was wondering where you were at....
When I finally make it to Hawaii I am making sure I hit a few Open Houses then!
Sally, you .....ARE ......The Big Cheese!
And I do not mean cheeseball.
Maggie: Call me when you get here!
Neal: Thanks for posting in mine as I do yours. What is a Big Cheese?
Hey Sally,
Who is your preferred lender for your military customers?
Thanks,
Jay
It's who my client prefers isn't it? I've worked on the other side of Steve Garcia who is with your company now. He has done flyers for my last Open House. Also, a great one is American Bancorp. They eat the non-allowables and have low junk fees. So does Central Pacific Home Loans.
so are you having any open house this sunday?
Great post Sally!! Please remove you shoes is the tough one for people new to the islands I usually put a sign that says "Thank You for Removing Your Shoes"
I enjoy Open Houses. I meet new buyers and neighbors who may be looking to sell. I have sold easily a third of my listings through open houses.
Thanks Randy! The few comments I got ....they just can't imagine that we sell our houses more through Open Houses!
Sally,
I wish south Florida's success rate for open houses were slightly HIGHER, I do not mind doing them, as a matter a fact , I would rather do a brokers open during the week ,atleast someone will come for the buffet.
We do brokers opens here. I recently got tasked with coordinating them for our region.
Yeah, we do broker's opens....but Randy....don't you agree....you sell the homes more at Open Houses rather than even a broker's open?
Neal: What's on for the buffet?
Randy: We don't even do a buffet....maybe snacks or somewhere's along those lines....you know me...I have candy, cookies, cupcakes hahahahaha (and by the way....do you have a floor calendar made out yet?)
For the Broker's opens we do get an escrow or mortgage putting out a spread of food at one of the featured homes. Not a bad lunch on a Wednesday.
Sally-Did you think about posting this on Localism? It might be a good one for consumers to read about since they are the ones that could really use this info. Aloha!
David: It's under Mililani News and Events....did I do this wrong?
Randy: Well, I may not run around to look just to get lunch but let's see what happens for this Mauka listing this week and I'll let you know if I should want to be included. Is it the third Wed?
Sally-I wouldnt say you did it "wrong" but if you want to get it posted to "Localism" then you must take a few different steps when you post the blog. First, take a look at Localism which can be found on the main page at http://www.activerain.com/. Click on Hawaii and you will see the different categories. In order to get your blog posted there this is what you will have to do:
After you write your blog, down at the bottom click on the "For Consumers" box. You can select a sub-category of your choice after that.
Next, choose the state of Hawaii and the county of Honolulu if appropriate. Dont go any further by selecting a specific city because it will not appear in Localism if you do that. You can go back now and edit your old blogs to get them on Localism if appropriate.
Take a look at Localism Brainstorming.
Aloha!
Yup! Figured that our already....I was going further...Mililani this and that. Changed just a few minutes ago to Honolulu. Thanks! It showed in Localism but had to click on Mililani and stuff like that..
Sally-Glad it helped! Aloha!
Anyone can think of anything to add on please comment!
Hey Sista!
open houses are not the best way to sell a home here, I wish it was.
Hey Bradda!
Lucky for us...I guess because it's not such a big area to cover....and......it's a Sunday outing and event...haha
This is a great set of guidelines you have put here, this will definitely help buyers who attend open houses. Lance
Wow...this was written many moons ago...lol! nice to see it come up again. :)