Sellers Guide To Open Houses

There are two schools of thought that differ when the topic of "open houses" arise. Even though an open house may bring traffic and potentially create a buzz around a house, depending on the type of market that we are in, it may be a waste of valuable time from a sellers perspective. In a stable housing market the value that an open house brings is invaluable as it allows the listing agent to market the house to other real estate agents who gain by visually being able to "soak in" the physical components of the house. Even in a subdivision which generally include houses that are built more or less to the same standards and have similar room configurations, substantial improvements may have been made to a house which can appeal to a specific target market of buyers.

Open houses are important as it allows the listing agent to EDUCATE potential buyers and real estate agents that may have a buyer lined up to purchase the house. It also opens up the house for neighbours to see which group may end up being a potential marketing source since they are able to spread the word of a "unique house" being on the market in their area.

How to Host A Successful Open House

  • Advertise the open house in real estate magazines, newspapers and on the internet
  • Have signs on major street intersections pointing potential buyers to the open house
  • Consider having the house "staged" so that you make the house look its best
  • Provide colour brochures of the house with professional photographs and descriptions
  • Open the blinds and drapes during the day and/or put on the lights if necessary
  • Make sure that all valuables are hidden or locked away
  • Listing agent should keep track of everybody visiting the house (name, phone number etc)
  • Listing agent should ask and take notes of the feedback from everyone visiting the house
  • Listing agent should be able to highlight the selling features of the house and differentiate the house from other similar properties on the market
 
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