Open House Considerations

In an age of internet technology leading the way for home buyers to preview homes and communities, do open houses actually lead to a sale and should you ask for an Open House or not? Real estate professionals say the main reason for holding an open house is because their clients expect it. Thirty-five percent of agents said that their sellers "frequently" want to include open houses in marketing plans, while 41 percent say sellers only "sometimes" expect open houses.

But do they actually help or hinder the property which is open for anyone to see on a Saturday or Sunday?

Things to consider before asking your REALTOR® to schedule an open house often vary from client to client. For instance, in the Denton County market properties are often selling as soon as the sign goes up and those neighborhoods wouldn’t have a need to host an open house. While other markets may need to do private home tours targeted to specific interest groups, i.e. farm, ranch, horse properties, lake properties, large estates and acreage.

Nevertheless, the people who cruise through the property could be “nosy neighbors,” right? Well, that’s a marketing issue. When done effectively, open houses can be incredibly profitable, so let’s talk about preparing for them to run in a more successful way. Once you discuss and determine with the advice of your professional if an open house is truly needed, consider these helpful tips.

1. Use targeted Facebook ads. Discuss with your REALTOR® what can be offered of value to those who register beforehand or to the first 50 people who show up and mention the Facebook ad. Remember REALTORS® have specific rules for advertising that are governed by regulatory agencies, so be understanding about they can and can’t do. 2. Offer exclusivity/privacy. Ask your REALTOR® if is prudent to host a “private or exclusive” showing before the advertised open house, for those who answered the ad or are pre-approved and serious. 3. Go ahead and invite the nosy neighbors. Traffic creates perceived scarcity, whether the visitors are nosy neighbors or not. Get them in the house and let them hang out! Many of your neighbors may know others who like the neighborhood. 4. Make sure your home is “staged” as your REALTOR® advised. At the risk of being obvious here, the REALTOR® does this type of work day in and day out. They talk to the buyers in the community, so believe them when they say a color needs to be toned down, carpet should be changed or to pack up all the mementos to stage an open airy concept. 5. Lock up valuables. Nothing can be more disappointing than having a precious valuable taken from an open house. Unfortunately, many REALTORS® don’t like open houses because they feel the client is vulnerable to anyone walking in and making note of valuables. Lock them up out of sight so no one gets any ideas.