Showing Properties: A Guide for Real Estate Investors

Next, let’s look at requesting showings of properties and looking at properties as a real estate investor.

Request the Showing

You’ve established your buying criteria, and your real estate agent is sending you properties from the MLS that match. However, you’ll still need to review each property manually to ensure it meets all your non-MLS searchable criteria.

This review typically involves reading the MLS information, examining property photos, conducting light research on the property and its location, and performing basic deal analysis using The World’s Greatest Real Estate Deal Analysis Spreadsheet™ or a spreadsheet to analyze your fix and flip.

If the property continues to look promising after this initial assessment, it’s time to request a showing with your real estate agent to see the property in person.

Essential Preparations Before Scheduling Showings

Before scheduling property showings, make sure you have these key elements ready:

Pre-Approval Letter – This document from your lender proves your financial readiness and signals to sellers that you’re a serious, qualified buyer. It also gives you a competitive edge in fast-moving markets.
Down Payment Funds – Ensure your down payment is easily accessible in a liquid account, allowing you to move quickly if you find a property that meets your investment criteria.

In real estate investing, being prepared often means being first in line for the best opportunities.

Essential Information for Scheduling Property Showings

To efficiently schedule property showings, your real estate agent requires two crucial pieces of information:

Property Details – Provide the MLS number or property address. While both are ideal, either one is typically sufficient for your agent to locate the listing accurately.
Your Schedule – Communicate your availability clearly. Keep in mind that flexibility is key, as your schedule may need to align with the agent’s, seller’s and/or tenant’s availability.

In competitive real estate markets, swift action is crucial. Don’t delay in requesting showings for properties that pique your interest.

Even in slower markets, prime investment opportunities can be snapped up quickly.

Being proactive and responsive can give you a significant advantage in securing desirable properties.

Schedule Showings During the Day

When scheduling property showings, aim for daytime visits whenever possible. Here’s why it’s ideal to view properties during daylight hours:

Better Visibility – Daylight allows you to see the property’s exterior clearly. You’ll be able to assess the condition of the roof, siding, landscaping, and other outdoor features more accurately.
Neighborhood Assessment – Daytime showings give you a chance to observe the neighborhood in action. You can see traffic patterns, nearby amenities, and get a feel for the overall area.
Interior Lighting – Natural light helps you evaluate the property’s interior more effectively. You can spot potential issues like water damage or worn flooring that might be less noticeable in artificial light.
Seasonal Considerations – This is especially important during winter months when daylight hours are shorter. If you’re only able to view properties after work, you might miss crucial exterior details.
Follow-up Evening/Night Visits – After a daytime showing, you can always return in the evening/night to get a different perspective on the neighborhood. You’re not usually looking at the property a second time during this follow-up visit, just getting a feeling for the neighborhood.

What Happens After You Request a Showing?

Once you request a showing, your agent takes several steps to ensure everything is ready before you visit the property. Here’s what happens behind the scenes:

Agent Checks Listing Status – Your agent verifies if the property is still available by checking its current status. They’ll ensure it’s not already under contract.
- Active – The property is available, and no offers have been accepted yet.
- Active/Backup – An offer has been accepted, but the seller is accepting backup offers in case the first deal falls through.
- Pending – The property is under contract, and the seller is not accepting any more offers.
- Sold – The property has been sold and is no longer available.
- First Right – The seller has accepted a contingent offer, but they can still accept another offer if the first buyer doesn’t remove their contingencies.
- Withdrawn – The listing has been temporarily removed from the market, but it could be relisted later.
- Expired – The listing contract with the agent has expired, and the property may no longer be available.
Reading “Secret” Broker Comments – Your agent will also check the private comments that are only visible to agents. These comments can provide valuable information:
- These can indicate if the seller is accepting or presenting offers at a certain time.
- They might reveal whether there are already multiple offers on the property.
- Sometimes they include details about tenant availability, such as if scheduling showings with the tenant is difficult, or if the seller is particularly motivated to sell quickly.
Commission Discussion – Your agent may also call the seller’s agent to verify the commission being offered. If the commission is lower than expected, they can have a conversation with you to clarify how the Exclusive Right-To-Buy Listing Contract works before you see the property.
Printing MLS Sheets – Before your showings, your agent will often print out MLS sheets for both of you. Having these sheets on hand during the showing allows each of you to take notes about the property as you tour it.
Scheduling and Driving Route – Your agent will try to schedule showings in a way that minimizes driving time between properties. However, the availability of showings may affect the order, especially when coordinating around the seller’s or tenant’s schedules.

Your agent handles all of these details so that your showings go smoothly, allowing you to focus on evaluating the property once you’re there.

Limit The Number of Properties You See in a Day

When scheduling property showings, it’s important to be mindful of how many properties you plan to see in a day.

Viewing too many properties can lead to confusion and decision fatigue.

Here are some tips to help you make the most of your property tours:

Quality Over Quantity – Focus on seeing up to 3 properties per day. Rarely should you try to see more than this except in highly unusual, exceptional situations. This allows you to give each property the attention it deserves.
Prioritize Properties – Start with the properties that best match your criteria. Don’t ask to go see second tier properties. If the first-tier ones aren’t good fits, you can look at second tier properties on another day.
Stay Organized – Use a system to keep track of the properties you’ve seen. This could be notes on the MLS sheet, a spreadsheet, notes app, or even a voice recorder. It is usually not acceptable to take photos of videos of the seller’s or tenant’s personal property.

Remember, the goal is to find the right investment property, not to see as many as possible in one day.

By limiting your showings, you’ll be able to make clearer, more informed decisions.

Agent Calls Seller’s Agent or Showing Service to Schedule Showings

When your agent calls the seller’s agent or the showing service to schedule a showing, several things can happen, depending on the property’s situation:

Option 1: Showing Confirmed – In the best-case scenario, the showing is confirmed, and you can “go and show” at the scheduled time. This means there are no restrictions, and the property is ready for you to view.
Option 2: Permission Needed from the Seller – Sometimes, the seller’s agent needs to get approval directly from the seller before confirming the showing.
- Seller May Approve – If the seller is available and gives approval, the showing will be confirmed.
- Seller May Decline – The seller may decline the showing due to personal reasons or other conflicts.
- Unable to Reach the Seller – In some cases, the agent might not be able to reach the seller right away, causing delays in scheduling.
Option 3: Permission Needed from the Tenant – If the property is tenant-occupied, the showing may require approval from the tenant.
- Tenant May Approve – If the tenant agrees, the showing will be scheduled.
- Tenant May Decline – Sometimes, tenants decline showings, particularly if it’s an inconvenient time.
- Unable to Reach the Tenant – If the tenant can’t be reached, the showing may be delayed or rescheduled.
Option 4: Limited Showing Times – Occasionally, there may be specific time restrictions on when you can view the property.
- Different Days/Times – The seller or tenant may only allow showings on certain days or during specific hours, which may not align with your original plans.
- 24-Hour Notice – For multi-family or tenant-occupied properties, a 24-hour notice is often required to respect the tenant’s privacy and schedule.

Your agent navigates these different possibilities to ensure that your showings are scheduled as smoothly as possible, but be prepared for some flexibility, especially with tenant-occupied properties.

A common challenge arises when two properties are easily scheduled, but the third remains in limbo—perhaps waiting for a response from the seller or tenant. You might find yourself touring the first two properties without knowing whether you’ll be able to see the third one that day.

Preparing for a Property Tour

Before heading out to tour properties, it’s important to be prepared so you can make the most of each showing. Here are a few things to keep in mind:

Essential Items to Bring – Make sure you have a clipboard, pens, and a flashlight. Some agents will provide MLS sheets on a clipboard, which makes it easy to take notes as you walk through each property. A flashlight can come in handy for inspecting vacant properties and foreclosures without power (including no lights), even vacant houses without overhead lights that normally have light switches that operate a wall outlet for lighting, darker areas like basements or crawl spaces, but many agents also keep good flashlights and even tape measures in their car, so don’t worry if you forget yours.
Easily Removable Shoes – Many sellers prefer that you remove your shoes upon entering the home, especially in bad weather. Some homes may provide booties to cover your shoes, but it’s often easier to just take your shoes off rather than putting booties on and off at each property.
Meeting and Driving Between Properties – Agents may have different preferences, but often you’ll meet at the first property and then drive separately to each location. This gives you flexibility and keeps things on schedule, especially if one showing runs longer than expected.
Arriving on Time – Be punctual for each showing. If you arrive late or take too long at one property, you might miss your window for subsequent showings. Sellers and tenants may have limited availability, so sticking to the schedule is key.

Being well-prepared helps you stay organized and focused as you view multiple properties, ensuring you don’t miss any critical details during your tour.

What Happens When a Showing is Confirmed

Once a showing is confirmed, your agent will communicate the details with you.

They’ll let you know the time and location of the showing, as well as any special instructions—such as parking, where to enter the property, etc.

Upon arrival, you can expect your agent to meet you at the property (unless otherwise arranged). They’ll likely have MLS sheets and a pen on hand for note-taking as you walk through the home together.

Be on time, as sellers or tenants often have limited availability, and you want to make the most of the showing window.

Occasionally, there may be last-minute changes or cancellations. If the seller or tenant isn’t available, or something unexpected comes up, your agent will notify you as soon as possible and work to reschedule.

Multi-Unit Showings: Special Considerations

When viewing multi-unit properties, there are often challenges in getting access to all units during a single showing. Tenants may have limited availability, or some units may be occupied, making it difficult to see every space.

You’ll need to be comfortable making decisions based on partial information. Often, you’ll view one or two units and rely on that to gauge the overall condition of the property. During the inspection period, you may be able to see the remaining units before finalizing your decision.

Coordinating with property managers or tenants is key in multi-unit showings. Property managers can help streamline access, but it’s important to respect tenants’ schedules and privacy, as they are typically given notice before showings. Flexibility and clear communication will make the process smoother.

Information Typically Included on an MLS Sheet

An MLS (Multiple Listing Service) sheet is a detailed summary of a property listing that provides essential information for real estate agents and potential buyers.

Here’s an overview of the key elements typically included on an MLS sheet. Your local MLS may differ.

Property Details

Address – The MLS sheet includes the full address of the property, including city and ZIP code. This helps you easily locate the property for showings and research.
MLS Number – Each property gets a unique MLS (Multiple Listing Service) number, which is essential for tracking the listing and communicating with your agent.
Price – The current asking price is always listed. Keep in mind that the price can change based on market conditions or the seller’s circumstances.
Status – The status shows whether the property is Active, Pending, Sold, or some other condition. This tells you if the property is available or if an offer has already been accepted.
Style – This section outlines the type of property, such as 2-story, ranch, or townhome. Knowing the style helps you decide if the property fits your investment criteria.
Subdivision – The subdivision or neighborhood name is important for evaluating local market trends and desirability.
Lot Size – You’ll see the lot size listed in square feet or acres, which can affect the property’s value and potential uses.
Year Built – Knowing the year a property was built gives you an idea of the home’s age and possible maintenance issues. Older properties might have charm but could come with more repairs.

Square Footage Information

Total Square Feet – The MLS sheet breaks down the total size of the property. This is key for comparing properties in terms of value and potential rent.
Finished Square Feet – This shows the amount of livable space, which is critical for estimating rental income. Finished areas are more valuable than unfinished basements or attics.
Basement Square Feet – If the property has a basement, this will indicate how much of that space is available, both finished and unfinished.
Room Breakdown – The sheet details the square footage for each level, such as the main level, upper level, and basement. This helps you evaluate the layout and usability of the space.

Room Descriptions

Bedrooms and Bathrooms – The MLS sheet provides a count of bedrooms and bathrooms, along with types (half, ¾, or full). More bedrooms and bathrooms can translate to higher rental income or resale value.
Room Sizes – You’ll get specific dimensions for key rooms like the kitchen, living room, and master bedroom. This helps you determine if the space meets your needs for investment purposes.
Special Features – This section highlights important features like walk-in closets, vaulted ceilings, or fireplaces. These can be selling points when renting or reselling the property.

Utilities and Systems

Heating/Cooling Systems – The MLS sheet lists the heating (e.g., forced air) and cooling systems (e.g., central air). These are important for determining energy efficiency and tenant comfort.
Energy Features – You’ll often find energy-efficient features like double-pane windows listed here. These can help reduce long-term costs for both you and your tenants.
Water and Sewer – The sheet provides details on the water source (e.g., city water) and sewage system (e.g., city sewer). This helps you avoid unexpected utility issues down the road.

Exterior Features

Roof Type – The type of roof (e.g., composition roof) is crucial for estimating maintenance and future replacement costs.
Outdoor Features – Patios, decks, and landscaping can add value to the property. Look for these in the MLS sheet if outdoor space is important for your investment strategy.
Parking – Details on parking are included, such as the number of garage spaces and whether the garage is attached or detached. Ample parking can be a selling point for tenants.

Neighborhood Information

School District – The MLS sheet lists the school district, including specific schools for elementary, middle, and high school. Proximity to good schools can increase property value and rental demand.
Proximity to Amenities – You’ll find mentions of nearby amenities, like stores or highways, which can impact the property’s appeal to future renters or buyers.

Listing Comments

Public Remarks – The listing agent often includes descriptive comments about the property’s best features. These remarks might mention upgrades, unique characteristics, or reasons why the property stands out.
Broker Remarks – These are additional comments intended for real estate agents. You might find useful details like offer deadlines, special conditions, or how to handle showings.

Legal and Financial Details

Property Taxes – The MLS sheet provides information on the most recent tax amount and year. Property taxes affect your overall return on investment.
HOA Information – If the property is in a homeowners association (HOA), the sheet will include details on dues and any rules that may apply. HOAs can have a significant impact on operating expenses.
Earnest Money Requirements – This section indicates how much earnest money you need to provide when making an offer.
Zoning Information – The zoning classification tells you what kind of use is allowed for the property (e.g., residential, commercial). This can affect your plans for the property.

Showing Instructions

Showing Contact Information – This section provides details on how to schedule a showing, whether through a showing service or the listing agent directly.
Availability – You’ll find any specific instructions for scheduling, like needing 24-hour notice or restrictions due to tenant occupancy.

This overview captures the critical components of an MLS sheet, which serve as an invaluable resource for investors and agents to evaluate potential properties quickly.

Looking at Houses

When you arrive at the property, how much time you spend evaluating it depends on how well it still fits your criteria.

If you find a deal-killer—something that makes the property no longer viable—there’s no need to waste time. Move on to the next one.

However, if the property continues to meet your expectations, take your time and thoroughly evaluate it. Keep checking everything that matters to your investment goals.

Don’t Do or Say Anything You Wouldn’t in Front of a Seller or Tenant

In today’s world, it’s incredibly easy for sellers or tenants to have recording devices like Ring doorbells, security cameras, or even an iPad or phone discreetly recording in the home. Because of this, you should always assume you’re being recorded while inside the property.

You don’t want to reveal that you love or hate the property while you’re inside. Save those discussions for after the showing, when you can speak privately with your agent.

Refrain from commenting on the property’s condition, the seller’s or tenants’ lifestyle choices, personal belongings, or family photos. Also, avoid discussing negotiation strategies or your potential offer amount. Sellers might use such information to their advantage if they learn you’re willing to pay more or if you’ve noticed a flaw that could impact your interest in the property.

Don’t make yourself at home including sitting on their furniture. Don’t look at the seller or tenant’s personal stuff. Don’t look at their medications or read stuff they may have left out.

Maybe I’m paranoid, but in my experience, this kind of surveillance happens often enough that being cautious is justified. It’s always better to be safe and have these conversations in private, where you can openly discuss your thoughts and strategy without tipping your hand.

Multiple Buyers at the Property

In a hot market, it’s common to encounter multiple buyers viewing the property at the same time. If someone is already touring the property when you arrive, it’s polite to wait your turn before entering.

In cases where several showings are scheduled back-to-back, it may feel more like an open house. This can lead to overlap, with multiple buyers inside at once.

During these situations, be mindful of what you say. Avoid discussing your thoughts on the property, negotiating strategies, or any other sensitive information where other agents or buyers can overhear. Keep these conversations private with your agent later.

Evaluate Neighborhood

Evaluating the neighborhood is just as important as reviewing the property itself. A great property in a declining or undesirable neighborhood can lead to challenges when renting or reselling. Here are some things to consider during your neighborhood evaluation:

Street and Surrounding Area – Look at the overall condition of the street. Are the other homes well-maintained? A neighborhood with tidy yards and homes is more likely to attract quality tenants or buyers. Pay attention to any visible signs of neglect, such as overgrown lawns or run-down properties.
Noise Levels and Traffic – Take a moment to assess the noise in the area. Is the property near a busy street, railroad, or airport? Excessive noise can turn off potential tenants or buyers. Also, evaluate traffic flow. Is it difficult to enter or exit the neighborhood?
Proximity to Amenities – Check the location’s proximity to schools, grocery stores, parks, and public transportation. These amenities can add value to the property, making it more attractive to renters or future buyers.
Safety and Crime Rates – Research crime rates for the area, and during your visit, note any signs of safety concerns. If possible, drive through the neighborhood at different times of the day to see how it feels during the day and night.
Future Development – Look for signs of construction or future development in the area. Future growth, such as new shopping centers or public infrastructure, can boost property values, but developments like large industrial projects could negatively affect the neighborhood.
Talk to Neighbors – If you’re serious about making an offer, consider chatting with the neighbors. They often have a wealth of information about the property and the neighborhood, such as whether there have been frequent repairs or issues with the house. Plus, they can offer insights into the overall community vibe and any upcoming changes.

Taking the time to evaluate the neighborhood thoroughly helps ensure you’re making a sound investment. A property’s location is often the most important factor in long-term value, so be sure to pay close attention to these details before moving forward.

Review of Property Exterior

Here are some of the things you’ll want to look at while reviewing the exterior of the property during your showing:

Roof Condition – Look for missing shingles, visible sagging, or any signs of wear and tear. A damaged roof can lead to costly repairs, and it’s one of the more expensive components to replace.
Siding and Exterior Walls – Check the siding or exterior material for cracks, peeling, or other damage. Pay attention to any areas that look like they’ve been recently patched, which could signal past issues that might resurface.
Foundation – As you walk around the property, look for any visible cracks in the foundation. While small cracks can be normal, larger or uneven cracks may indicate structural problems that will need further inspection.
Windows and Doors – Examine the windows and doors for any visible damage or signs of drafts. Windows that don’t properly seal or have condensation between panes could be a sign of energy inefficiency, which might impact heating and cooling costs.
Gutters and Drainage – Make sure the gutters are intact and check how the water is being directed away from the house. Poor drainage can lead to water pooling near the foundation, causing long-term issues.
Landscaping and Trees – Look at the yard and landscaping. Overgrown trees or bushes close to the house could lead to damage to the siding or roof. Additionally, roots from larger trees can interfere with plumbing or the foundation.
Fencing and Property Boundaries – If the property has a fence, check its condition. Damaged or leaning fences will need repair, and it’s important to know where the property boundaries are, especially if they’re not well marked.
Driveways and Walkways – Check for any large cracks or uneven surfaces. Damaged driveways or walkways can be expensive to fix, and they may also be a hazard for tenants or guests.
HVAC System – If there’s an exterior air conditioning unit, take a quick look at its condition. While you’ll have a formal inspection later, it’s good to notice any rust or damage to the system early on.
Exterior Lighting and Security – Check the exterior lighting fixtures to see if they’re functioning or need replacement. Well-lit properties are more attractive to renters and can increase security.
Garage and Outbuildings – If the property has a garage or other outbuildings, inspect them for structural integrity. Look for any signs of roof or siding issues, similar to what you’d check on the main house.

Remember, this is just a first look. You’ll be hiring a professional inspector if you decide to move forward with the property.

The inspector will catch anything you may have missed and provide a detailed report of the property’s condition.

This exterior review is your chance to spot any obvious red flags that could influence your decision before investing more time.

Interior Walk-Through

When you step inside a property for the first time, it’s important to do a thorough interior walk-through.

While this isn’t a formal inspection, it’s your opportunity to identify any obvious concerns or areas that may need attention down the line and to evaluate whether the property is still interesting to you.

As an investor, you want to assess whether the home’s layout, condition, and features make sense for your investment strategy, whether you’re looking to rent or resell.

Below are the key areas you’ll want to focus on during your walk-through.

Keep in mind, if you decide to move forward, you’ll hire a professional inspector to take a deeper look at these and other details.

Room Layout and Flow – As you walk through the property, pay attention to how the rooms connect and whether the layout makes sense for future tenants. A functional flow adds value and makes the property easier to rent or resell.
Walls and Ceilings – Look closely at the walls and ceilings for any cracks, discoloration, or uneven areas. These could be signs of past water damage or structural issues that need to be addressed.
Flooring Condition – Check the floors for visible damage like stains, scratches, or worn-out carpeting. Hardwoods that need refinishing or carpets that require replacement can add to your upfront costs.
Windows and Natural Light – Take note of the windows in each room. Make sure they open and close properly, and check for drafts or condensation between panes. Rooms with good natural light are more appealing to tenants and buyers.
Doors – Open and close every door. Misaligned doors or doors that stick could be a sign of foundation shifting or framing issues.
Kitchen Condition – In the kitchen, check the appliances, countertops, and cabinetry. Outdated or damaged appliances may need replacing, while worn countertops and cabinets could add to your renovation costs.
Bathrooms – Check the condition of the fixtures, plumbing, and tile. Look under sinks and around toilets and tubs for signs of leaks or water damage, which can lead to mold or costly repairs.
Water Pressure and Plumbing – Test the water pressure in sinks and showers. Low water pressure could signal plumbing issues. Also, flush the toilets to ensure they’re working properly.
Heating and Cooling Systems – Even though a formal inspection will go into detail, take a quick look at the heating and cooling systems inside. Are there signs of age or poor maintenance, like rust or noise from the furnace?
Electrical Outlets and Fixtures – Test a few electrical outlets and light switches as you move through the house. Non-functioning outlets or flickering lights could indicate wiring issues.
Basement or Crawl Spaces – If the property has a basement or crawl space, look for any signs of moisture or standing water. These areas can be prone to water intrusion, which could mean bigger problems with the foundation or drainage.
Attic Access and Insulation – If the property has attic access, check to see if it’s insulated. Lack of proper insulation can lead to higher utility bills, which could impact your operating costs.
Storage Space – Assess the closets, cabinets, and other storage areas. Ample storage is a strong selling point for tenants and can increase the property’s appeal.
Odors and Air Quality – As you walk through the property, take note of any unusual odors. Musty or damp smells could indicate mold or water damage, while chemical smells could mean poor air quality.

Remember, this is your chance to get a feel for the property before making a bigger commitment.

You’ll still be hiring an inspector to look over everything in more detail, but this initial interior walk-through lets you catch any glaring issues that could affect your decision to move forward.

Ultimate Guide to Showings for Real Estate Investors