In the past few years I’ve started to go every weekday to Agent Open Houses. In our market, they typically are scheduled from 10:30am – 1pm on weekdays. Going is “Old School”, but there are some real benefits.
Some of the things that I have seen are amazing! From beautiful homes in that are priced in the millions, to the small wooden one bedroom homes in the rougher, up and coming neighbourhoods. I go to them all. It’s my passion, so I think its fun!
Why do I go? It’s really about gathering the most current information. Real Estate is a market and it’s constantly changing. I think that I’ve got to have first hand knowledge about what’s for sale so that I am in a valid position to give clients my opinion. It’s about being prepared.
I look at more homes than most other real estate agents in my office. This is important. I see first hand the location, condition, and the features of each home as soon as they come up for sale. I also form opinions on what I think the home will sell for, or if it will sell at all! Then when I check and see what’s sold in the last week I can validate my opinion or change it.
…and finally I get to interact with other agents in a non competitive environment. I can’t tell you the number of times I’ve given or received a valuable real estate tidbit while I’m looking at pen Houses. For those few hours we are all out there gathering information and not competing with each other, we share and socialize.
Here’s a short case study.
A few weeks ago I went to see a home located on a dead end street about 10 homes away from a major railway corridor. Sounds like a terrible listing to have right? A lot of other agents thought so too and the agent open house wasn’t well attended.
When the offer night came (yes, we have a lot of those in Toronto), there were almost 10 offers on the house and it sold for about $100,000 over the asking price. Some agents were shocked! I wasn’t.
The reason that I wasn’t is because I went to the agent open house. I knew that it had the features that were “perfect” for the area. It had tons of parking, a wider lot, nice kitchens (gas stoves & good appliances), wasn’t too crooked (the house was about 100 years old), and it had been renovated and decorated very well from top to bottom.
If you’re looking for a west end agent to help you buy a home in Toronto, call me…