Open House

It's a lovely spring Wednesday and we're touring homes for sale. Possibly your house. It's broker tour day and we're barreling down narrow, winding streets in a Lexus, Mercedes or (watch out) a Range Rover. We're going way too fast, possibly talking on the phone and, oddly enough, most likely won't park in your driveway. Your neighbors will definitely be irritated and there may be ugly words exchanged. Just another day in the life of your local, residential real estate agent.

There are a few things I have noticed over the past thirteen years of Broker Tour days. First and foremost, agents are motivated by food. It's not like it was back in the day when booze was regularly served, but sometimes agents will provide lunch, or snacks though it's becoming rare. If food is being served at the open house it's definitely an incentive to tour the property. More agents will attend, they will stay longer, and if the food is good, bond more deeply with the house. They'll also drip soy sauce and drop cupcake crumbs on your brand new bedroom carpet. Agents forget the etiquette which is: look at the house, THEN eat. In the kitchen.

Some sellers want visitors to remove their shoes. Floors have just been refinished, carpets cleaned and the idea is to preserve the recent investment in newness and cleanliness. Little, blue booties may be provided to be worn over your shoes. I always wear slip-on shoes on tour day. It's just easier, although there have been a few times when the carpets were so disgustingly filthy I couldn't bear to walk around the house barefoot. You must always be sure to take your OWN shoes upon departing the home. A few years ago a top agent, with very large feet, stole another man's shoes. A much better pair. Poor agent number two looked for his size thirteen, gorgeous Ferragamos but they were gone. A pair of worn Top Siders were in their place. The "thief" was tracked down at one of the later properties on tour, completely oblivious. Maybe it's just me, but I don't understand being so unaware that you don't remember which shoes you were wearing!

With modern technology we have the ability to see a house from every angle and inside out. You can get a lot of information about a house using a computer, including 360 degree photography. You may get seasick, but you can get a very accurate look and you might even be tempted to make an offer - except for one thing. The smell. And the sounds, for that matter. The important intangibles can't be quantified in pixels. They must be experienced and there a lot of ways a house can smell bad. Trust me. If your agent uses scented candles during showings, we assume you're covering up the smell of something like your pets or dampness or ... Never mind. You get the idea.

Preparing a property for sale is a lot of work. You start from the front and move back. How's that curb appeal? Maybe not so good. You de-clutter and buff and shine. You repair and replace. You paint and polish. You get rid of more stuff than you're keeping. It's time for the first showing. Or is it? Did you tidy up ALL your closets? I have never understood the compulsion people have to look behind doors and into cabinets, but don't underestimate it. It seems to be a universal phenomenon. You need to be prepared. It's all part of the Feng Shui. Don't you feel better in your house when the closets are and clean organized?

Back in olden times, when I first started in the business, there was very little supply and lots of demand, demand, demand. It didn't matter if a house was the best house in the neighborhood, by far. If it was a good house, with all the bells and whistles, Pottery Barn style, it sold. Talented builders were making a killing buying a tear down on a flat lot. They could build a mini-Tara, sometimes with actual columns, and it would sell. Then it all changed and once again, location mattered. Properties with columns on poor lots in less than ordeal neighborhoods languished. Prices were reduced and reduced again. Brand new homes were rented out to stop the cash flow hemorrhage.

It was easy to control the process when sales were quick and dirty. First open house on broker tour Wednesday, showings throughout the weekend and all offers to be submitted after the first Sunday open house. Multiple offers with love letters to the house attached. It was feasible to send your clients and their dogs and kids away for the weekend. One weekend to keep the place clean, stay out of the way and then it was a done deal. Now? It can take months of tidying up on short notice, vacating the premises every Wednesday and Sunday, keeping up the faith. Some distressed properties have been listed for as many as 500 days, but most of these homes have no occupants, and if they're bank owned, probably no appliances and fixtures.

The loss in home value has been a shocking, though not unexpected development. The difficulty in obtaining home loans adds another layer of stress. We just did a simple refinance on our house, with ALL documentation readily provided, the appraisal (phew) hit the number required and it still took over four months to close. The bank asked for verification of Eric's income and some of our assets three times during the process. They were afraid he'd lose his job and we'd spend all our money during the escrow period. No kidding! So were we.

The old days were not as easy as some would believe. It was cutthroat and emotionally draining for buyers and their agents. With the shortage of listings and preponderance of buyers, most of us were working with buyers. They all seemed to want the same house. I wrote seven offers for one client, five for another. However, we knew that once we got into contract anyone could get a loan. You didn't even need to be breathing to borrow money, which, of course brings us back to where we are today. I'd like to say more, but I have to go clean out some closets.