I spoke to four Toronto-based realtors so you know what to expect at your first open house, how to evaluate the homes you\u2019re looking at, and the etiquette best observed to make a good impression.<\/p>\n
All the realtors suggested looking on Realtor.ca<\/a> for listings where you can find the listing price, property details and open house information. You can also scout for open houses by looking at \u2018for sale\u2019 signs on lawns \u2014 if there isn\u2019t an open house advertised, dial up the number and ask.<\/p>\n Cameron recommends narrowing your search by two key metrics: location and price. You can determine your affordability by getting pre-approved for a mortgage or simply by taking a close look at your budget and crunching the numbers.<\/p>\n\n \u201cThe common adage for real estate has always been location, location, location \u2014 but sometimes that needs to take a backseat for first-time buyers,\u201d says Toronto-based realtor Arianna Codeluppi<\/a>. \u201cThey may very well want the trendy location but affordability just can’t reach it. They end up spinning their wheels \u2014 trying and missing out on multiple offers.\u201d To avoid this, Codeluppi recommends being open-minded for your starter home by looking in outlying neighbourhoods. \u201cA lot of young buyers are flocking to the \u2018less desirable areas.\u2019 But that just brings property values up. Then you can leverage that property into buying in the location you originally desired for your second property. You can try to save up for it but it’s very hard.\u201d<\/p>\n When Ralph Fox from Fox Marin Associates<\/a> is hosting an open house, he can almost always tell when people have representation or not. \u201cI won’t necessarily know how far along they are in their home search, but with representation they definitely seem more educated and have a better sense of what’s happening and what they’re looking for.\u201d<\/p>\n In fast-paced markets like Toronto, having a realtor can help you interpret what\u2019s going on. \u201cWhen you\u2019re talking to an agent at an open house, you\u2019re only going to get part of the story and that\u2019s the story they want you to hear. So it\u2019s hard to have perspective on what\u2019s actually going on without having someone that you trust to give you guidance,\u201d says Fox.<\/p>\n They will also help you get your ducks in a row for offer day and will counsel you on what\u2019s happening with the property relative to the market \u2014 things like determining an appropriate offer price.<\/p>\n When Cameron is hosting an open house, she gauges how serious a client is, in part, based on whether or not they have a realtor. If you don\u2019t have a realtor, Cameron cautions you to never take the seller\u2019s realtor as your own. This is referred to as \u2018multiple representation\u2019 and is a serious conflict of interest. Typically, buyers and sellers will have separate representation and their realtor will make a commission from the sale (around 2.5 percent). With multiple representation, they make a commission from both sides (usually up to five percent) and can use inside information to manipulate the sale. \u201cIf we\u2019re doing our jobs effectively, we need to make sure that we don\u2019t compromise anyone\u2019s best interest for our own. This is almost impossible with multiple representation,\u201d says Cameron.<\/p>\n \u201cYou should be asking about the mechanics in the house,\u201d advises Cameron. \u201cHow old are the windows, the furnace, the air conditioner? Have there been any issues with the home that should be identified? Any water leakage in the basement or from the roof? Any pest problems?\u201d<\/p>\n Next, you want to turn your attention to the logistics of the sale. Is there an offer date? Is a home inspection available? In hotter markets, sellers will often have a pre-listing inspection done. If you aren\u2019t comfortable taking their word for it, you can always bring in a home inspector before you make an offer or put in your offer with an inspection condition.<\/p>\n Kori Marin, the other half of Fox Marin Associates<\/a>, suggests you tailor your questions based on the type of property you\u2019re looking at.<\/p>\n When you’re looking at a condo:<\/strong><\/p>\n When you’re looking at a home:<\/strong><\/p>\n This is a trickier one. \u201cYour agent should do their due diligence to determine what similar properties have sold for. But I think sometimes you can get some hints from the selling agent depending on how they answer the question,\u201d says Marin.<\/p>\n It\u2019s a very common practice in Toronto to list under-market value and sell way beyond the list price. \u201cEssentially there are three prices,\u201d explains Fox. \u201cOne is the list price \u2014 and that\u2019s nothing more than a marketing number. The second is the valuation range the property is worth based on comparables and\/or price-per-square-foot. Then there\u2019s what it could sell for on any given day or night.\u201d<\/p>\n Instead of asking outright what the seller\u2019s expectations are, you could ask the seller\u2019s realtor what comparable homes have sold for. \u201cWhen you\u2019re speaking to a seller\u2019s agent, you have to remember the agent doesn\u2019t represent you and they don\u2019t represent your best interests,\u201d says Fox. \u201cThey can\u2019t guarantee what it will sell for and they may not want to disclose what their sellers expectations are. But if you\u2019re asking them a factual question, a good agent will be able to tell you the answer. Often agents will bring comparables to the actual open house.\u201d<\/p>\n \u201cI like to tell my clients to pay attention to the things that they can’t change,\u201d says Codeluppi. \u201cThe location, the size of the house, potentially the layout…but to be less hung up on decor, colours and all that stuff. Paint and lighting can be easily changed and it\u2019s not even that expensive.\u201d<\/p>\n Cameron also recommends looking past the picture-perfect staging so you can imagine how you\u2019ll actually live in the space. Where will the TV go? Is there enough natural light for you to stay sane? Can the bedroom fit your king mattress?<\/p>\n Fox and Marin suggest drilling down to what\u2019s truly important to you. \u201cThere is no perfect house. People are always going to have to make trade-offs. As you go through the process, you start to understand what\u2019s important and what\u2019s not important. Once you get to that point, you’re able to identify the characteristics of a property within the price range and specific neighborhoods you\u2019re looking at.\u201d In other words, you will eventually come to know value when you see it \u2014 and understand the hard truth that what you want isn\u2019t necessarily what you\u2019re going to get.<\/p>\n You don\u2019t have to decide if you\u2019re going to buy the place at the open house. If you\u2019re interested in the property, let the realtor know and have your realtor get in touch with them to arrange a viewing or set it up yourself. For Fox and Marin, they can give around 40 private viewings for downtown Toronto properties.<\/p>\n Wear shoes that slip on-and-off easily because you\u2019re going to have to take them off. You can peek inside cabinets and storage \u2014 but don\u2019t go all Nancy Drew on things like testing the taps and shower for water pressure. Save that for the home inspection.<\/p>\n \u201cI think people need to remember that they’re not coming into a store or a public place. It\u2019s someone’s home, and yes, it\u2019s offered up for sale, but you have to be extremely respectful of the property owner. And, you know, it\u2019s our job as realtors to protect ourselves, and also protect the seller and their property,\u201d says Codeluppi.<\/p>\n Lastly, don\u2019t be rude to the seller\u2019s realtor. \u201cYou get people who come through and don’t want to talk to you and they walk around so annoyed that you’re there,\u201d says Cameron. \u201cI think it’s important to remember that agents are there to help. We are there to sell the property on our clients behalf, represent them as best as we can and help you. Our intention is not to annoy you.\u201d<\/p>\n![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/05\/what-to-expect-at-your-first-open-house-1.jpg\")
<\/a>Photo:\u00a0Vladimir Kudinov<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\nHow do I find open houses?<\/h2>\n
![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/05\/what-to-expect-at-your-first-open-house-for-sale-compressed.jpg\")
<\/a>Photo: James Bombales<\/em><\/p>\nShould I get a realtor?<\/h2>\n
![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/05\/What-to-expect-at-your-first-open-house-notes.jpg\")
<\/a>Photo:\u00a0Brad Neathery<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\nWhat are good questions to ask at an open house?<\/h2>\n
\n
\n
![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/05\/what-to-expect-at-your-first-open-house-2.jpg\")
<\/a>Photo:\u00a0Paul Hanaoka<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\nCan you ask what the seller\u2019s expectations for the sale price are?<\/h2>\n
![\"See](\"https:\/\/www.livabl.com\/articles\/wp-content\/themes\/livabl\/images\/see-also-cta-icon.svg\"\/){kind=icon}
\r\n SEE ALSO:<\/span>A first-time homebuyer\u2019s guide to a drama-free client and real estate agent relationship<\/a><\/strong>\r\n <\/div>\n![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/05\/What-to-expect-at-your-first-open-house-expectations.png\")
<\/a>Photo:\u00a0Filios Sazeides<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\nHow do I determine if the place is right for me?<\/h2>\n
![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/05\/What-to-expect-at-your-first-open-house-door.jpg\")
<\/a>Photo:\u00a0Filios Sazeides<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\nShould I take my shoes off?<\/h2>\n