After reading a recent blog post on the pros of an open house I felt compelled to write my own blog post on this same subject.
Not only do I believe an open house is an excellent addition to getting the property noticed, I believe that it benefits both the seller on the subject property, the neighborhood, the buyers, and the listing agent.
Let's break down the benefits:
- Seller - Added property exposure. Either an ad in the local paper, a Youtube video, blog, or an announcement on your Facebook page calls attention to the property and when it's open for viewing.
- Neighborhood - Open houses are the opportunity for the neighbors to see an active real estate professional "giving it their all". It allows them to compare their property to that of the open house property and maybe, just maybe think that this area professional might be on to something by public exposure.
- Buyers - A properly run open house creates the opportunity for the buyer to not only get introduced to a neighborhood, but to the price point that has been set there. Simply put, it educates them on many levels such as neighborhood amenities, value, and a chance meeting with the local expert.
- The Listing Agent - The listing agent enjoys obvious benefits. First, they get an even closer look at the neighborhood by meeting and greeting the neighbors...this adds value to our education. There's always the opportunity to meet buyers who are looking for an agent to bring them to additional homes if the subject property doesn't meet all of their requirements. And, every once in a blue moon, the property sells because either a colleague has either sent their client over or accompanies them to the open house...OR a buyer walks in and simply has to have that house!
So "cheers!" to the open house. NAR, while I respect your efforts in addressing this subject, is today the right time to even think of questioning or abolishing a method that might drive our market into a faster tailspin?
Sheila Rasak Estates on Facebook MktTrends on Twitter
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