You may be asking yourself… “Do open houses sell homes?” the answer is, that open house alone probably isn’t going to sell a home, but they serve an extremely important purpose. You guessed it eyeballs looking at the house, bodies in the door, and one thing to consider is that many of these buyers may not have seen it otherwise.
Remember many buyers walking through the open houses are looking at options. At different stages of the home buying process, they may become expedited if they feel for a home. The more potential buyers you can get through the door the higher chance you have of getting what you want.
Another reason the open house is a crucial part of the selling process is that it allows me, as the listing agent who knows much more about the house than a buyers agent, to offer potential buyers who have problems with the home solutions.
For example, recently I sold a home in San Francisco where the wife loved the home and the husband was more emotionless. He was hoping to be talked out but instead, when I addressed all their concerns, they ended up buying it. They did have an agent who came by an hour after them, and yet still proceeded to write and hear the opportunity.
In essence, My job at the open house is to offer solutions to the deficiencies buyers perceive the home to have which I have no other opportunity to do, not even at showings normally.
In addition, remember if your competition Is open you should be too. Sometimes scheduling nightmares deter buyers. You don’t want that! If your competition is open you should be too!
And lastly, open houses are key in not just selling the house but selling the neighborhood where the home is located. Many buyers shop in different neighborhoods in a day, and I find from my experience not all of the potential buyers are knowledgeable and comfortable with the neighborhood. Open houses play a key role in buyers’ exploration of different neighborhoods and price points.
I know that many believe Open houses are just a prospecting event for realtors and while that is true, there is an opportunity to meet new potential buyers, every agent is different.
That’s why who you work with matters. At the open house, I am focused on listening to buyers as they walk through the home to identify their pain points with the home and address them immediately or even offer solutions.
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