With so much available information online surrounding property listings, some sellers have backed away from hosting traditional open houses. But real estate experts say, “Not so fast!” Hosting an open house is still a very practical way to help market a home. Here’s a closer look at why open houses are so successful:
Increased Foot Traffic
Open houses mean exactly that: an open door policy that allows potential buyers to get a firsthand, in-person account of your home. Hosting an open house will increase your foot traffic exponentially, and getting buyers through your front door should be your foremost objective. Additionally, many real estate aggregate websites will feature listings with open houses at the top of their pages, which means increased exposure for you. Couple this with curious buyers who are driving around your neighborhood and the net you’ve cast to sell your home will have grown tremendously.
Hand’s On Experience for Buyers
Buying a home is a huge step for many people, and they will undoubtedly want to experience your home firsthand before making a decision. Sure, the photos used in your listings will help bring them by, but too many people are skeptical about Photoshop and other photo enhancement programs that could make a home appear more favorable than it might be. Hosting an open house means that buyers can drop in and learn more about your home in the flesh. They can open up closets, take a closer look at the storage in your garage, inspect outdoor living areas and create a mental picture of themselves living in your home.
Open Houses Equal Marketing
When you host an open house, a considerable amount of marketing goes into the process. And it’s this marketing that ultimately reaches potential buyers. According to a 2013 study by the National Association of Realtors, 45 percent of prospective buyers said they used an open house to gather information during their home buying experience. Sit down with your real estate agent and discuss the best time to host an open house. Perhaps it’s on a weekend, but maybe it’s during evening commuting hours if your home happens to be geographically desirable for a midweek open house.