Does the Open House have a Place in Todays Real Estate Market?
While practicing real estate south west of Boston for the past 24 years, I have made a habit out of holding open houses if at all possible, on any given Sunday. :)
If you look at the number of open houses each Sunday, and then the number of those that have sold soon after, you might think that the open house is ineffective. Possibly. But, in my opinion the open house does have a place and serves a purpose in the buying or selling of a home and this is why.
Over the past couple of years, technology has transformed the world, the way we receive and view information, and of course, the real estate industry has followed suit. Gone are the days where your Realtor would choose properties for you to see and drive you around in the car for hours at a time. Gone are the days when you might not be able to view a home, but for an open house on Sunday afternoon.
Today, information is at your fingertips. Photos and visual tours of well showcased homes are available to view at anytime of the day or night, while in your PJ's or on your lunch break. No need to miss that birthday party to see that home, when you can view it on line.
But, Realtors are masters of making their homes appear more or less than what they are. Buying a home is emotional. It is after all where you will hang your hat, where your children will attend school, where you will become part of a community and a host of other things that are too much to list.
What then of the traditional open house? Does it have it's place in today's fast paced real estate market? Does it benefit a Buyer or a Seller or Both?
The Benefit to Sellers
It is effective in getting your home exposed to potential purchasers that may be just casually searching. Priced right and staged correctly, it could steal the heart of someone that might never have come to see it, ruling it out because it got lost in the sea of homes promoted on line! It could get another Buyer in the door, whose agent was not available to take them out that day. And, what about those nosy neighbors? Do you know that on two separate occasions I have sold a home to folks that lived less than five houses away? We promise to leave no stone unturned in looking for a potential purchaser. This could very well be one of those stones. It is simply another tool to gain exposure!
The Benefit to Buyers
Is similar to those of sellers. Like I have said before, we Realtors are quickly becoming masterful in the art of photography! Many homes are different in person. Fact is while photos and visual tours are a wonderful start, it is very likely that you may rule something out that you would love if you saw it in person! An open house is also a great way to strengthen your market knowledge. Getting to see homes in person, helps one to learn what is really important to them in housing. And, what about a subtle interview in your search for a real estate agent? Do you know that this year, I have been lucky enough to be selected by two different buyers by meeting them at open houses? Unbeknownst to me, they were conducting their own face to face interview! Very smart.
At the End of the Day.
Will it sell your home? Is it likely that you will walk into an open house and find that it is the "one" for you? Statistics show probably not. But, every situation is different and if it adds to a well thought out marketing plan or to enhance your home search, then it may be just worth the time and effort.
Making a Real Estate Move?
Let me put my experience to work for you. I will leave no stone unturned in marketing your home. If you are buying a home, I will make sure you know everything and see everything you need to in order to make an informed decision. Give me a call!
Carol-Ann Palmieri 508-494-9061 Cal@alandcal.com