One question that I sometimes get from sellers is, "Does an open house really work?"  On the surface, it appears that they do because so many real estate professionals use them to generate traffic to their listings.

But, we should qualify the question a little before we answer it.  The better question is, "Does an open house really work to sell my home?"  Open House sign

Generating traffic to a listing is something all vendors like to have but traffic is only one part of the marketing process.  Sellers need to have qualified buyers viewing the home, not just "traffic".  When the neighbors with all their family members and/or friends drop in on Sunday afternoon for a visit with the Realtor, it is unlikely to generate a sale for your home.

Here are six things that an open house will do.

 

  • 1.  It will allow potential buyers the freedom to come and view your home without asking a Realtor to take them through.  This serves to motivate a prospective buyer who may initially think the home isn't suitable and they don't want to bother their agent.  If they are wrong about the house, you just might see an offer from them.
  • 2.  It will allow the listing agent to present your home in the best possible light to all those who visit.  Other agents might not take the time to learn what they can about your home but your listing agent will know the things that are important to the buyers.
  • 3.  It will give you some sense that your agent is working for your real estate fee.  You might not see many of the things he or she is doing on your behalf.  An open house at least will give you a feeling that you are getting something for your money when the deal closes.
  • 4.  It will help you to gage what things are being brought up as objections by potential buyers when they view it.  Ask your agent to keep track of the comments so you can make any adjustments to the home decor that are problematic.
  • 5.  Holding an open house will motivate you to make the extra effort to ensure your home shows its best.  We all need a little driver once in a while to get the house ready for viewings.  There is nothing like the pressure of an open house to push your tidying to the next level.
  • 6.  An open house with several people viewing the home at once creates a sense of urgency.  If you home is suitable to more than one buyer, this urgency may lead to multiple offers and that usually raises the selling price. 

 

There are lots of sellers that don't like to do open houses and no doubt there are reasons why they might feel that way.  We can explore those another day.  But if you haven't tried one, perhaps you should.  If a house isn't selling because of the market, taking some action is necessary to help you reach your goal. And doing an open house is one of those things that can easily be done.  You might be surprised by how it helps you make the sale. 

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About the Author: R. Greg Osmond is a Platinum Award winning Realtor dedicated to serving the people of St. John's, Mount Pearl, Paradise, Kilbride, Goulds, Conception Bay South (CBS), Portugal Cove-St. Philips, Torbay- Flatrock- Pouch Cove, and Logy Bay - Middle Cove - Outer Cove, Newfoundland and Labrador. For over 21 years Greg has been practicing in Real Estate. He can be reached at             709-895-2500      .

Want to get in touch? Email rgosmond1@gmail.com. For more information, please visit http://www.rgregosmond.com. Thinking of selling your home? I have a passion for helping my clients with buying and selling real estate! If there is any way I can be of service to you today, please feel free to contact me!

Click Here To SUBSCRIBE. Your Mother will definitely approve!

 

 

 

 

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By R. Greg Osmond, MBA

About the Author: R. Greg Osmond, MBA is a Platinum Award winning Realtor dedicated to serving the people of St. John's, Mount Pearl, Paradise, Kilbride, Goulds, Conception Bay South (CBS), Portugal Cove-St. Philips, Torbay- Flatrock- Pouch Cove, and Logy Bay - Middle Cove - Outer Cove, Newfoundland and Labrador. For over 24 years Greg has been practicing in Real Estate. He is also president of Red Maple Development Inc., a firm focused on new home construction and existing home renovations, for Greg's clients and the market.  Greg can be reached at 709-682-9670.  Greg's Associate Realtor, Andrew Macdonald BBA, may be reached at 709-749-8879.

Want to get in touch? Email rgosmond1@gmail.com. For more information, please visit http://www.rgregosmond.com. Thinking of selling your home? I have a passion for helping my clients with buying and selling real estate! If there is any way I can be of service to you today, please feel free to contact me!

Go ahead and SUBSCRIBE to this blog.  Your Mother will definitely approve, I guarantee it!

 
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8 Comments on Does An Open House Really Work?

NOV
10
2010
116,512 Points Outside Blog Hit Router

I came from an area in So. Calif. where sellers expected Open House on a regular basis.  I think they are a waste of time, and dangerous for the agent and homeowner.  I am now living and working in an area where they are rare and happier for it. 

It is a good way for an agent to pick up buyers and meet potential sellers, but usually will not sell a home.  One of our most sucessful agents in this office does them on a regular basis, so it's to each his own. 
12:50pm • #1
878,908 Points 10 Featured Posts Outside Blog

Greg - with virtual tours on the Internet along with the personal safety issues of today open houses are not what they used to be.
11:57pm • #2
NOV
12
2010
868,446 Points 5 Featured Posts

Greg,

It's costly from an agent's perspective. But, it does really work. People drop in and sometimes buy something they hadn't planned upon.

Brian
8:08am • #3
124,060 Points 4 Featured Posts Hit Router

Sandra,  I guess in California there may be different risks than in Newfoundland I am sure.  There has never been anything to suggest that they are dangerous in this market so agents don't have any issue with doing them from time to time.

Kathy, Interesting you should raise the safety issue like Sandra.  I don't hear anything in this area about the safety of an open house.  I guess, there are risks but in this market they would be very low.  Driving to the open house might actually be a higher one.  There are some bad drivers everywhere as you know. 

Brian, I agree with you.  They do work.  But they don't always work.  So it is one of those things that you just have to do when the situation calls for it.
12:29pm • #4
NOV
17
2010
878,908 Points 10 Featured Posts Outside Blog

Greg - like real estate the various issues we run into are often local ..... while safety has not been an issue here in Uxbridge it is a concern at times.
10:10am • #5
NOV
26
2010
1,258,885 Points 2 Featured Posts Outside Blog Hit Router

Greg

I have sold homes off of an open but I mainly generate lots of buyers that come through that house.
7:49pm • #6
NOV
28
2010
124,060 Points 4 Featured Posts Hit Router

Tom,

I understand that is one of the benefits of open houses.  I am happy to hear you have capitalized on it!  
7:47pm • #8
FEB
07
2011

I think open houses are great.  I recently had one and got an offer on the spot and two buyers as new clients.  I guess the area where you have the open houses is a big factor, specially now that buyers are more savy in terms of seaching on their own on the internet.
4:09pm • #9


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