The National Association of REALTORS® (NAR) is holding a National Open House this weekend. Realtors® from coast to coast will host thousands of open houses while engaging consumers on the benefits of homeownership and bringing buyers and sellers together.
When attending an open house this weekend, be aware that the listing agent represents the seller. Therefore, you should be cognizant of the information that you share with that agent. If you would like your own representation, you contact a buyer’s agent (like myself at 413-531-7129, for example). Buyer’s agents have a fiduciary responsibility to look out for a home buyer’s best interests and give you the advice that you need to make the most prudent decision.
If you are a home seller and are skeptical about the effictiveness of open houses, NAR statistics can provide some insight. According to NAR’s 2011 Profile of Home Buyers and Sellers, 45 percent of all buyers used open houses as a source in their home search process. What’s more, buyers in the Northeast region are significantly more likely to use open houses.
Homeownership is even more attractive now, according to NAR’s most recent housing affordablility index. Based on the relationship between the median home price, median family income and the average mortgage interest rate, the index reached 206.1 in January. This is the first time that the index broke the 200 mark, according to NAR. The higher the index, the greater the household purchasing power. The current index indicates that the typical family has roughly double the income needed to purchase a median-priced home.
For a list of open houses in the area. Contact me at 413-531-7129 or email me at firstname.lastname@example.org. If you plan on attending an open house, give me a call. As a Certified Buyers Representative, I am uniquely qualified to look out for your best interests when purchasing a home.