What To Do After Ruling Out Adam's Open House
- Adam Garrett
- Jan 8, 2023
- 1 min read
Updated: Jul 20, 2024
As much as Adam would love to sell buyers properties where he represents the seller from an open house that he's hosting, that doesn't always happen. If that's you, here are my top recommendations:
Image courtesy Art Louis Photography at a former listing of mine
Let Adam Know to Reduce SPAM related to the open house
Adam is representing the seller, so it's his duty to market the property. As such, it's not uncommon for him to want to check in with buyers that have been to the property for an open house, especially at times like price reductions and if there's an active offer. For those still considering the property, that can be very helpful information to know, but for those who have ruled it out, there's no need to get contacted about it.
Get Text Notifications for Any Property Searches You Have
Those that periodically browse once in a while without an active property search are missing out on some of the best properties available while wasting time sifting through properties that they've already ruled out every time they pull up the search again.
Whether you're looking on Zillow, Redfin, Trulia, Realtor.com, or getting the assistance of a real estate agent, be sure to have text notifications as new properties hit the market if you receive texts. The importance of expeditious showings is hard to underemphasize. The best properties at the best prices tend to go the fastest, sometimes less than 12 hrs after hitting the market.
In many cases, you won't be able to get text updates directly from a search, so here's a workaround solution.
Optimize Property Searches
Unless you have a lot of time on your hands, are looking for a very unusual property, or are looking in a very rural area, your search(es) should typically have 20-50 properties (among all the searches combined if using more than 1 search).
There are some pros and cons of using MLS vs public searches, but generally speaking, I recommend some of both.
Here is an article comparing MLS searches vs public website searches. For most in SE VA, their dominant search would be best on MLS, while a few secondary & tertiary searches are best on public websites.
Optimize Public Property Searches
Public searches on sites like Zillow may be better than MLS with each of the below categories of homes, mostly as supplemental searches to the main MLS search, with some exceptions. Even if you already have a search going with a real estate agent, it's a good idea to have a separate search going for a for sale by owner house, for instance, specifically targeted toward those so that you're not getting a number of duplicates from your primary MLS search.
Best Public Website Searches to Supplement a Primary MLS Search:
for sale by owner property searches
Auction Searches
3. Commercial Searches
These are best when you combine an MLS search and multiple public property searches on the sites that I share about in my commercial property purchases & sales page.
Best Public Website Searches to Consider Instead of a Primary MLS Search:
properties where you're looking for homes w acreage or looking to cap acreage in Hampton Roads (since some MLS searches in SE VA don't default to the tax records if the agent is too lazy to input the acreage, while Zillow does).
Public sites are much more important for rentals than they are for homes for sale, since a much lower percentage of landlords use Realtors to post their houses for rent than to post their houses for sale.
3. Those whose large search area means a high level of crossover MLS
Public websites can help if you are looking in an area with a high level of crossover MLS, especially if working with an agent who doesn't have access to all the ones of the area, as long as you're OK with the limited features, limited search properties, & limited information of public websites vs MLS. Adam has access to 5, but many agents only have access to 1. If you're in Washington DC, it's no problem to have access to 1, because BRIGHT MLS is highly dominant. IN SE VA, on the other hand, there are places where 1 MLS only has around 50% of the total listings.
Zillow Searches & Other Public Website Searches Vs MLS Searches
Biggest Problem of Public Websites in Hampton Roads that's not a Problem in Richmond
Public searches have a significant edge up in places like Richmond vs in places like Virginia Beach because of MLS policies that differ. In Richmond, which has a different MLS than Hampton Roads, when a property goes under contract, it goes to pending even if contingencies are present. In Hampton Roads, when a property goes under contract, properties typically remain active while having a contingency, and most public websites can't tell the difference, so there's a high volume of phantom property availability in Hampton Roads on public websites, while Richmond doesn't have a big problem with that.
Acquire a Buyer's Agent & Be Familiar with Their Role & The Importance of Choosing a Good One
Helping you to establish a solid MLS search is just the tip of the iceberg with a buyer's agent's role.
Optimize Property Searches with Your Realtor
For most other properties, Realtors with solid MLS coverage in areas with 1 dominant MLS are often ideal since Realtors will help guide you through various dynamics of the search. Also, they sometimes have hours put into search templates, like this one I've done for hurricane evacuation zones:
Or like this one for USDA zones:
Besides that, they have search criteria possible that's not possible on public websites. Want to rule out short sales, homes with asbestos siding, homes with EIFS siding, and homes with no AC? REIN MLS can do that. Want to rule out homes that require cash and won't be approved for a traditional mortgage? REIN MLS has an option for weeding those properties out too. Looking for exclusively 2 car garages? REIN MLS can get that for you as well.
MLS in SE VA also often has features that you won't find on public websites. There are a few cities/counties in SE VA where more than 50% of the homes are in flood zones. If you're relying on a public website that doesn't have a flood map, even if the public website has a flood feature, it could lead you in the wrong direction and make you think it requires flood insurance when it really doesn't. With flood insurance sometimes costing $1000s per year, that's very important to know before you ever see a property, as something like that will rule out many homes for a number of buyers. Here's how to look up flood zones within REIN MLS, CVR, WBG, & CBRAR MLS:
Also, Realtors may have resources that can help guide you in your search, such as this resource I've put together for local school district ratings or this resource with a wide variety of information on SE VA cities/counties.
For more details, see:
Be Prepared When the Ideal Property Becomes Available
Before you even start searching for properties at length digitally or in person, it's a good idea to get a preapproval (especially going through manual underwriting) if you're planning on using financing & otherwise have any other funds needed for purchase with credit in the shape that it needs.
Related:
If you're like around 86% of home buyers (as of 2022) you'll purchase your home through a real estate agent or broker. It's a good idea to speak to them sooner rather than later so that they can help prepare you for a purchase. I'm available if you would like to explore that with me.
Use the Resources Out There, Including My Buyer's Guide
Here's my buyer's guide which should be very helpful in your purchase.
Related:
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