Although the Internet has radically transformed the way real estate professionals operate, some things never change. With buyers focusing on online house hunting, is there still a
place for the traditional open house?
Recent research indicates that opinions are divided in the way agents and sellers view the value of an open house.An agent recounts the story of one couple -typical Internet buyers – who spent a year researching their target market. The same couple attended dozens of local open houses over a period of several months before they finally bought.
There are situations when holding an open house would make little sense. If the home is located in a remote or hard to access area or situated in a gated community, the difficulties getting to it would deter viewers. Likewise, a dilapidated property would make most agents wary of being connected with such a grungy listing.
On the flip side, some agents are so confident that open houses work, they will often host several in one weekend. An open house allows the agent or seller to showcase the property and interact personally with potential buyers.
This can be a valuable opportunity to get feedback about what would-be buyers find attractive or off-putting about a house.Questions like, “Where did you find out about this open house?” “What do you like about this home?” Or even, “What are you looking for?” Knowing how your property is generating interest guides the way for further promotion.
Going to the trouble of holding an open house is only worth the effort if it’s done properly. The home and its landscaping should be in tip top shape and advertising done well in advance. Don’t think you can just knock up a sign and get lots of interest. Open-house enthusiasts will confirm that arranging a great event is hard work.
Advertising for an open house really showcases a home, giving sellers better exposure and luring buyers. The big secret to success in the open house marketplace is getting the buyers to show up. Obviously, plenty of potential buyers are lurking around the Internet. Real Estate agents say that promoting an open house increases online hits and clicks to listings rise. Then there are homes that have sold, despite never having a single showing, all because of an open house.Blogging, tweets and other social media promoting an upcoming open house can also drive interest.
Buyers are attracted to open house events by the convenience factor, appreciating the easy access to homes without having to call their agents for showings.