Nearly every home, represented by a professional real estate agent, takes advantage of all the tools, etc, which might be beneficial, in the overall, effective marketing, and selling, of the house. In the vast majority of cases, with the possible exception of certain exclusive, higher – end properties, using an Open House, is an effective tool, both for the homeowner, as well as for the agent. Therefore, this article will attempt to, briefly, examine and discuss, 5 reasons, agents should host Open Houses.
1. Expose client’s property to potential buyers: Especially when a house, is new, to the real estate market (when it’s in the earlier stages of the listing process), one of the best way, to get greater visibility, for the house, is to host an Open House, and advertise/ market it, effectively! In many ways, the best opportunities occur, when a home gets maximum exposure, because, to, a large degree, it’s a numbers – game! The greater ones emphasizes, promotes, and creates a hype, the more views, are created and produced.
2. Expose client’s property to other agents: One of the advantages of using the services of a Realtor, is taking advantage of the Multiple Listing Service (MLS)! In many areas, listing agents, originally, introduce a new property, using, a Broker’s Inspection, which is an open house, exclusively to the industry/ other agents. The goal must be, to get one’s client’s home, sold, at the best, possible price, at the shortest period of time, so, creating some buzz, which causes others, to remember, and focus on your listing, is a wise, early step!
3. Gauge market interest/ price: Although it’s important to do everything possible, to create a competitive listing priced, based on comparing, your listing to others, on the market, using an Open House, is, often, a valuable tool, in gauging and evaluating market interest. If one gets minimal attendance, or no quality offers, it might indicate, there may be, a need for a price adjustment!
4. Opportunity to get buyer – clients: If the house, you are representing, isn’t the best, for a particular, qualified buyer, if you treat those attending your open houses, with the respect, they deserve and desire, you will attract them, to you, to become their real estate agent! Doesn’t this create a true opportunity, for you, and your future clients?
5. Momentum: Effective real estate representation, requires creating momentum, which motivates others, to be attracted to you, and the unique services, you may provide.
Agents, don’t abandon doing Open Houses, because they are one of your most valuable tools! Will you commit to the best representation, you might possibly offer?