They used to be a standard part of every home seller’s strategy. Now, with the proliferation of web-based real estate listings and a variety of other marketing tools, open houses are becoming a somewhat controversial topic. Many sellers today see them as a waste of time, to put it simply.
And if having an open house is simply a box that your Realtor® is checking off his or her list, they often are. However, open houses can still be highly effective if used properly. Here are some important points to consider:
1. There are different types of open houses- Public Open Houses and Broker’s Open Houses A public open house is generally held on Sunday, and can be a good way to expose your home to qualified buyers who take the opportunity to visit multiple homes in an area in one day by touring open houses. A broker’s open is generally held during the week, and is even more valuable. It gives Realtors® who have clients looking to buy in the area the chance to pre-screen a home for their buyers, and helps put the word out within the local network of agents that your home is a serious listing.
2. The role that open houses play in marketing a home is different today Many sellers these days feel that open houses for the public attract mostly ‘lookie-loos’, neighbors, and other people who aren’t serious buyers. While this is true to an extent, they are still important because some serious buyers who lead busy lives may use them as a simpler alternative to scheduling a bunch of appointments to view individual homes. Think of it as bait in the water. You can’t catch anything if you don’t put it out! It’s true that few homes are actually sold at the open house, but occasionally one is.
3. Regardless of the outcome, preparing your home for one is time well-spent in the overall strategy. Getting a home ready for a broker’s open or public open house gives the seller a tangible deadline for getting their home in prime selling condition. It is also a valuable barometer on the amount of interest the listing is likely to generate, and gives the seller real-world feedback on where their home stands in comparison to others in the area.
Despite the inconvenience it may pose, if you’re serious about selling your home, open houses are still very important in my opinion. Selling a home quickly and for top dollar requires that you explore every possible avenue, and leaving this one untested is a mistake.
Want to learn more about the Open House process? Interested in selling your home in the near future, and want to chat about it? Feel free to give me a call anytime- 571-305-2405, or drop me a note below-