I am a strong proponent of hosting Open Houses for new listings, or those with recent listing changes, as they do work. There are things you’ll hear from others about why Open Houses are a waste of time, but here is my take on it. The truth is, any exposure is good exposure. Below are some of the reasons my Open Houses work!
- Real Estate Agent or Broker Visits – Marketing the Open House to successful, active agents and brokers in the area, and having them visit the home in person, is likely to improve my relationship with them and is likely to motivate that professional to show your property to their clients. This can mean many more showings and a faster sale!
- Neighbours Snooping – One of the arguments against Open Houses is that the only people that go to them are neighbours just snooping on each other. This might not be a bad thing! Many people like to pick their own neighbours. If they love your home, they will tell their friends. This exposure can be good to get your home sold quickly as you’re having the neighbours do the selling for you!
- Feedback – Showings usually occur when someone is already quite interested in your property. Open House visits are generally more casual and may uncover feedback that you and I can incorporate into getting your home sold. Be it, the visitors can’t envision the use of a particular space (so staging might be a consideration), or one room just throwing them off completely due to clutter, decor or otherwise, at least knowing what’s turning buyers off means we can fix it.
- Creating Potential Buyers – Even though many of the visitors to your Open House might not think they’re potential buyers, they actually are! If your home is a bit different than what they’re looking for, but they fall in love with it, this could change their mind! Maybe they can stretch their budget a bit, or maybe they discover they actually like the street your home is on. Whatever the reason, them being pleasantly surprised and impressed could mean an offer! If it wasn’t for the Open House, these unknowing potential buyers would have never bothered to see your home. Showings are much more formal.
- Exposure, exposure, exposure – Be it exposure for me due to signage on the day of the Open House, or exposure for your listing due to the vast posting and marketing methods that I use to advertise your Open House, the exposure, regardless of turnout is a good thing. People will remember your home just by seeing the Open House signs and driving by. You never know what that might turn into the next day or the next week.
- It Actually Works – Many homes sell to buyers who have seen the home for the first time at an Open House. Not every buyer has an agent that is finding homes for them and arranging showings, so Open Houses are a great way for these buyers to start their search. Why limit yourself? Open Houses DO sell homes!