There is an ongoing debate as to when an open house should be held. Old school thinking is that Sunday is the best day to hold an open house and new school thinking is that you should hold the open house on Saturday AND Sunday. This is primarily for brand new listings, but you might want to have an open on both days for older listings as well. There are pros and cons to each. So, how would you vote?
Exposure to the Market
There are some agents that feel that holding an open house on both days is overkill and you dilute your attendance. Plus, serious buyers who are working with an agent can see the property with their agent on Saturday and beat the Sunday open house crowd. The issue with this argument is that not all "serious" buyers are working with an agent. Many buyers don't bring an agent into the picture until they find a house they want to buy. By holding the house open for the entire weekend versus one day allows buyers to take a look at it with or without their agent on Saturday and if they like it, they can take a second look at it on Sunday or bring family and friends to see it on Sunday as well. If you can also approach it from the standpoint of exposing the property to more of the market, holding the house open on both Saturday and Sunday is a win.
Meet the Neighbors
We all know that neighbors love to see what's new on the market in their neighborhood. Why not invite them to your Saturday open house? It solves two issues. The first being, the neighbors get to see the house and second, you can give them more attention since you will not be concerned with losing a potential buyer by chatting with one of the neighbors. Another great perk to having an open house on Saturday for neighbors is that this is your opportunity to shine. Consumers often visit open houses to see how agents work...or don't. It's like an informal interview.
Share the Wealth
If you think you will have a busy open house it might be best to hold an open house on both Saturday and Sunday. You should have a couple of goals when holding an open house. One is to get the house sold and the other is to pick up clients...both buyers and sellers. If you have a lot of visitors you don't have an opportunity to engage with everyone, instead you end up being a traffic cop. If you feel like it will be busy and you are only open on Sunday, invite a colleague to hold the house open with you. This will give you both an opportunity to really talk to people about the house and answer any questions they may have. It's better to get a few clients than no clients...there is enough business for everyone.
What Do You Think?
There are definitely pros and cons as to when you should hold an open house. Always keep in mind who you work for...in this case it's the seller. Ask yourself this question, "what is in the best interest of my client?" If the listing is in a hot neighborhood, in a hot market...I think you know what you should do.
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