BOULDER, CO, Apr 20, 2024—An open house can be a fun, exciting time, with many potential buyers milling around the same space. But if you're unsure what to focus on while perusing, Phil Boren, Broker Associate of RE/MAX of Boulder, Inc. offers the following questions you should definitely ask the listing agent before you leave.
How long has the home been on the market? This question can reveal a lot about the space—especially if it has been for sale and empty. If the listing has been lingering on the market for longer than average, there may be a reason why, and you should investigate further.
Have there been any offers? If there are any current offers on the table, the agent will likely let you know without you asking, as the more interest, the better the chances of a bidding war. However, if there are no current offers, learning about offers made in the past can give you insight into how to navigate. "For instance, if the seller has already turned down several low-ball offers, you may know not to bother with a low offer," says Boren.
Have there been any renovations? You can usually spot a brand new kitchen or bathroom, but inquiring into any recent harder-to-notice updates—like the roof or electrical system in older homes—will give you good insight behind the value of the property, work needed, and how well it has been maintained.
Are there any known issues? "If the home needs a new roof, has some major plumbing problem or any other large issue, the agent is required to tell you," says Boren. Don't be afraid to ask the hard-hitting questions.
Have there been any recent price changes? You can find price fluctuations online, but asking the agent upfront can often spark a conversation about why the price has been changing, and allow you to better gauge how motivated the buyer is.
For more information on real estate, please contact RE/MAX of Boulder, Inc. at philboren@gmail.com, 303-441-5647, or RE/MAX of Boulder, Inc..
Phil Boren is a 26-year veteran real estate Broker and Realtor, specializing in consulting with buyers and sellers in Boulder, CO and along the Front Range of Northern Colorado. Held Real Estate Broker's license in Texas, California and Colorado; Managing Broker for over 200 agents and Brokers for Century 21 and RE/MAX franchises. Award-winning Realtor with experience in management, sales, marketing, relocation, appraisal, REO, BPO's, foreclosures, short sales; previously held the MAI designation from the Appraisal Institute. Experienced in both residential and commercial real estate and achieved the No. 14 individual ranking in the 5-state, Mt. States Region for RE/MAX International in 2001, based on sales volume. Received my BSBA in Finance and Real Estate from the University of Arkansas in Fayetteville, where he was a 4-year starter and 4-year football letterman for Hall-of-Fame coach, Lou Holtz.