When visiting an Open House , you are often greeted by the listing agent hosting the Open House.

This is a wonderful practice and you would hope to connect with the realtor showcasing the house and providing information and answers to any questions that you might have about the property.

The one thing to keep in mind however, when visiting an Open House is that the listing agent represents THE SELLER.

So, if in conversation they start to ask you questions that might be of personal nature such as “ What have you been pre-approved for by your bank?” or, “ Is this house in your price range? What is your top limit for pricing?”

Any of these questions are ones that really should only be shared with your buyer’s agent, lender, and closing attorney.

Let’s play this scenario out to see how sharing this information might be to your detriment should you love the house and then decide to write an offer. We will treat it like it’s a play write below:

Listing Agent” Welcome to our Open House !!! My name is Sally Sells A Lot. Please feel free to tour the house and let me know if you have any questions !”

Buyer: “ Thanks so much! It’s a great house !!! So far, it looks perfect for our family !!!”

Listing Agent : “ Great!!! I hope that you love it so much that you write an offer! “

The buyer tours the house and then stops in to say goodbye and thank you to the listing agent on her way out.

Buyer : “ Thanks again! “

Listing Agent: “ Well I hope that you decide to buy it! How does this fit into you price range? How much are you pre-approved for?”

Buyer: “ Well, this is actually a little below what we are approved for which is great!!! We are approved for up to $275,000 so with this being only $250,000 my husband will be thrilled!”

STOP!!!..................................

Now what do we have here?

The listing agent knows that even if this buyer writes an offer below the asking price, that they can go well over.

It now makes it MUCH harder for this buyer to negotiate a great deal on the property.

Ideally, you already have a buyer’s agent working for you and you can always sign in and jot their name right next to yours. Your buyer’s agent can certainly know what your pare-approval amount is as they are working for your best interest.

I want any of you out there to get the best deal you possibly can. Even in a sellers market where you especially need all the help you and can get securing your next home !

The more you know, the better you will do out there.

Tanya