In episode 7 of #KTQuickTips, Milton Real Estate Agents Adrian and Ariel answer the frequently asked question of “Are open houses necessary?” It’s a great question and one we want to review again because quite simply, no, they aren’t necessary – BUT we do highly recommend them.
One of the key components to a successful sale is exposure. The more people you can get your home in front of, the more likely you are to sell it for top dollar AND in a shorter period of time.
When we list a property for sale, we actually have three different types of open houses, all of which cater to a different audience.
NEIGHBOURHOOD OPEN HOUSE
The neighbourhood open house is exactly that; an opportunity to have your neighbours visit before the general public. There are two reasons we do this; one, we all have nosy neighbours. It’s better to have them come through during a designated time rather than during a busy weekend when your Realtor is interacting with people who are more likely to be serious prospective buyers. And two, you may have neighbours with friends or family that would like to move to the neighbourhood… who wouldn’t want to pick their own neighours? This open house is always held before the first public open houses, often on the first day on the market.
PUBLIC OPEN HOUSE
Public open houses are a great opportunity to market your home to serious buyers. Oftentimes, buyers will come to the open house because it’s convenient for them, they feel like they have more time, they may be coming from out of town and they can hit up a few properties in one visit. If you’ve been successful at connecting with buyers online, the next opportunity to wow them is in person, which is often during an open house.
REALTOR OPEN HOUSE
Last, but not least, the realtor open house. This is an opportunity for realtors to view the property in person to see if it’s a good fit for one of their buyers. While the majority of visitors are simply educating themselves on the market and current inventory, getting a real estate agent through may result in them seeing a home that appears nicer in person than it does online, and perhaps one that’s a good fit for one of their clients.
Simply put, open houses can create a buzz and bring a lot of positive attention to your home. So, make sure that you or your realtor have this as a part of your marketing plan before your home goes for sale.
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