Open houses are not appropriate for all properties. They’re best used for homes that will attract a broader number of buyers in a given market. Today, they are increasingly being debated for their current value and relevance. As technology offers more online photos, virtual tours, and videos to millions of buyers at any hour, actual open houses are losing their original appeal.
Many real estate agents have lost their enthusiasm for them – especially if they’re standing around in homes for two hours, without any foot traffic.
A growing number of sellers are opting out of open houses. They’re aware that home sales rarely result from open houses in most areas, and are more of an opportunity for agents to meet prospective clients – be they buyers or future sellers.
Open houses also attract curious neighbors and looky-loos, who simply want to see inside the home or collect decorating ideas.
Open houses may soon follow print advertising as a largely extinct form of effectively marketing properties. Until then, here are some reasons to continue to hold them:
For sellers: Having agents host open houses gives them the opportunity to point out features and answer questions about the property. The more people who see your property, the better – be they actual buyers, neighbors, looky-loos, or other agents. You never know when even a looky-loo encounters someone for whom they realize your home may be perfect.
For buyers: If you haven’t selected an agent to represent you yet, open houses are a great way to observe and meet a variety of agents in what should be a low-pressure environment. Open houses allow you to quickly move through many properties of different price ranges to learn what you really get for the money. Photos, virtual tours, and video can only do so much. There is no substitute for seeing a property, a neighborhood, and an entire community with your own eyes.
For agents: Depending on the location, open houses continue to be an opportunity for you to get in front of buyers in a more relaxed setting. They allow you to answer questions buyers may have about the property, or about home buying, in general. You also have the chance to ask questions – to stay on top of what buyers are seeking. Meeting neighbors and looky-loos may provide you with some unique information about the area that would be helpful in your marketing efforts. The more we can interact with the public, the better our odds for achieving success in our business.
Many real estate agents have lost their enthusiasm for them – especially if they’re standing around in homes for two hours, without any foot traffic.
A growing number of sellers are opting out of open houses. They’re aware that home sales rarely result from open houses in most areas, and are more of an opportunity for agents to meet prospective clients – be they buyers or future sellers.
Open houses also attract curious neighbors and looky-loos, who simply want to see inside the home or collect decorating ideas.
Open houses may soon follow print advertising as a largely extinct form of effectively marketing properties. Until then, here are some reasons to continue to hold them:
For sellers: Having agents host open houses gives them the opportunity to point out features and answer questions about the property. The more people who see your property, the better – be they actual buyers, neighbors, looky-loos, or other agents. You never know when even a looky-loo encounters someone for whom they realize your home may be perfect.
For buyers: If you haven’t selected an agent to represent you yet, open houses are a great way to observe and meet a variety of agents in what should be a low-pressure environment. Open houses allow you to quickly move through many properties of different price ranges to learn what you really get for the money. Photos, virtual tours, and video can only do so much. There is no substitute for seeing a property, a neighborhood, and an entire community with your own eyes.
For agents: Depending on the location, open houses continue to be an opportunity for you to get in front of buyers in a more relaxed setting. They allow you to answer questions buyers may have about the property, or about home buying, in general. You also have the chance to ask questions – to stay on top of what buyers are seeking. Meeting neighbors and looky-loos may provide you with some unique information about the area that would be helpful in your marketing efforts. The more we can interact with the public, the better our odds for achieving success in our business.
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