There are some in the real estate industry who don't believe in holding an open house. However, our experiences with open houses have been very positive. In fact, they're an important part of our home-selling plan. Here are 3 reasons why holding an open house is a no-brainer in today's real estate market.
Three Great Reasons to Hold an Open House
1) The mere act of scheduling an open house can cause some buyers to submit an immediate offer. A buyer's worst fear is losing out on their dream home to some other buyer who attends the upcoming open house. This "fear of loss" can motivate some buyers to write a very strong and immediate offer before the open house has a chance to take place. Pre-announcing an open house as part of a "coming soon listing" is a great way to play on this fear and create a sense of urgency for buyers.
2) A packed open house gives the seller the psychological advantage. A crowded open house can also play on buyers' fears and motivate them to act quickly. How do you get several dozen buyers to attend your Sunday open house? One proven way to drive traffic is to make your open house the first time that anyone is allowed to tour your home. Contact us to discuss some other great ways to drive buyers to your open.
3) Open houses expose your listing to more buyers. Holding a weekend open house makes it easier for motivated buyers to tour your home. Some local buyers may have a hard time getting away from their job during the week. Other out-of-town buyers often schedule their house-hunting trips for the weekend. A weekend open house makes it easier for both types of buyers to view your home.
But what about all of those nosy neighbors?
Sure, there will be plenty of neighbors and casual lookers attending your open house. We encourage all of them to attend even though they have no intention of buying your home. Remember, a packed open house gives you the psychological advantage. It's also good for "word of mouth" marketing. It could be your neighbors who end up selling your house by telling their friends about your listing.
Open houses work
The bottom line is open houses work. Each year we sell several listings to buyers who attended one of our weekend opens. In other cases the mere act of scheduling an open house causes buyers to submit an immediate offer. For these reasons we're big believers in open houses and make them a standard part of our marketing plan.
Dan Miller, REALTOR
Mad City Dream Homes & RE/MAX Preferred