Let’s Talk About Open Houses

When I tell people I work in real estate their response is often, “Oh my gosh really? I LOVE open houses”. Well I love open houses too! Of course it's fun to see beautiful homes that you might otherwise not get a chance to see, but let’s talk about some other great benefits of open houses - both to buyers and sellers.

Sometimes buyers don’t even know where to start the process. Open houses can be a perfect first step! They provide buyers with information that is useful in their own home buying decisions. What type of information? First of all they help the buyers determine what size and style of home they truly want. Buyers can see an array of different homes available and start to understand what their needs and wants are. I highly recommend that buyers consider looking at homes in lots of different neighborhoods. Sometimes they find that the location is even more important than some of the home features.

Buyers also get to meet and “interview” different real estate agents. An agent will always be there to host the open house and answer any questions about the property. An experienced agent will also have information for buyers about other available properties nearby and what’s sold recently in the neighborhood. Buyers should feel comfortable asking the hosting agent questions and getting a feel for them. Eventually they are going to find someone they click with and want to work with.   If you have an agent already it’s still totally fine to go to some open house – just let the hosting agent know that you’re already working with someone.

For buyers that are looking to move up or downsize, open houses can be helpful for them too. Regardless of the size of home you’re looking for open houses are a great way to start your search for all the same reason as first time homebuyers – getting a sense of what’s out there in the market and interviewing potential real estate agents. If a buyer also need to sell their current property to get into their next home they might be asking the hosting agent some different types of questions. For instance they might ask questions specific to days on market and what type of marketing the agent provides for their listings. If the hosting agent also happens to be the listing agent of the property being held open, take a close look at their marketing materials and how the home presents.

For sellers open houses are a great way to get more eyes on the property. Getting more people through the door is of course great exposure for the home. Even if it’s neighbors coming to take a peek, they can now be advocates for the home and help spread the word. A few times I have even had open house attendees write offers on properties the day of the open house – open houses can actually sell the property!

The other benefit for sellers is the marketing leading up to the open house. An experienced agent will use the open house opportunity to stir up some new excitement about the property and push out ads, both print and digital. It will be a marketing push similar to when the home was first listed on the market. This can be beneficial for listings that have been sitting on the market for a little bit.

If you have any questions about open houses or want to come see me at the next one I’m doing, please don’t hesitate to reach out!