The world of real estate is constantly changing and ever evolving. This means certain practices must adapt. For example in our office we used to have a book kept at a desk for agents that we would print out and put every new listing in as it came on the market. Agents could flip through it with clients to show them what was available. Obviously this was not the most efficient way to know a markets inventory. (not to mention a giant waste of paper!) Now thanks to a little thing called the Internet, real estate has been forever changed. One real estate marketing tool that has continued even with recent changes is the open house. Each weekend you will still see open house signs throughout neighborhoods and realtors waiting for prospective buyers to stop by. This of course leads to the question...do open houses still work?
The National Association of Realtors reported in 2014 that only 9% of buyers found the home they ended up buying through an open house. Buyers are more educated about the home buying process than ever before and with all the websites, virtual tours, floor plans and available information online they can find out everything they need without going to an open house. It used to be hard to find out all the details about a home so going to an open house was a great way for buyers to get inside. Now many serious home buyers prefer virtual open homes. With the click of a mouse they can see photos and find an abundance of information online. They can choose to search for listings based on price, neighborhood and size. While online searching is a great way to go about your home search, there are still benefits to open houses.
Click here for the full article to see reasons an open house is beneficial to buyers and sellers
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