Monday, September 28, 2009

Should you have an Open House?

Should you have an Open House? Will it sell your home?

Consumer sentiment about open houses has waxed and waned over the years, along with the ups and downs of the real estate market. In 1995, 41% of buyers surveyed relied on open houses to sell their home, according to data from the NAR. By 2000, it had dropped to 28%. Beginning in 2003, however, as the market started to heat up again, that number began rising. By 2005, the last year for which data is available, 51% of all sellers were using open houses, though not all agreed they were effective. Some 45% of sellers found open houses only "somewhat useful" and another 12% didn't consider them useful at all, according to the NAR.

One of the BENEFITS OF AN OPEN HOUSE an open house can be a valuable opportunity to get feedback about what is and isn’t attractive about a house.

  • Nosy neighbors – they just want to see what your home looks like – they migh:
    • know someone who might be interested in your home
    • they could be thinking of selling and checking us out
  • Bored Shoppers – looking to do something on a Sunday Afternoon, especially if it is raining
  • Current Sellers – listed with another agent. We encourage you to check out the competition, so we expect that a percentage of our visitors are doing just that
  • Recent Home Buyers – checking out the market to reassure themselves that they got a good deal
  • Folks looking for decorating ideas – you never know, they might walk in and fall in love and decide to sell what they have and buy your home
  • Buyers ready to purchase a home!

  • So you never know - it just takes one!

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