OPEN HOUSES: 5 SECRETS TO DRAW A BIG CROWD
October 15, 2016 | Richard Sites
The Open House is one of the most misunderstood aspects of selling a house. Why? Because there are two schools of thoughts on the value of them. Sellers either insist on holding them or they are completely against them.
How could there be such differing opinions on the same subject? Well, let’s look a little deeper.
Real estate agents generally contend that open houses are really a vehicle for finding more buyers for themselves and will not result in the sale of that particular house. While this may be generally true, let me tell you a personal story.
I took over a listing in IBIS Golf & Country Club that had been listed with 2 other agents for a year. If you have been reading this blog you know that it usually only takes a 1% improvement in your value proposition to get a house sold.
Having made this 1% improvement, I held an open house and sold THAT house for $692,000 and with a full golf membership ($50,000 more) on just the 8th day . (I also listed another home for $3.5 million at that open house). Maybe someone should have told the seller, Mike, that open houses don’t work.
No one knows where a buyer may come from so why eliminate any opportunities? EXPOSURE of all kinds is what gets a house sold, period!
Sellers that don’t want to hold an open house think they are just an opportunity for nosy neighbors to poke around in your private things and see how your house is decorated. Maybe that’s true but all buyers are doing the same thing.
But could they also be considering purchasing the house for themselves or for someone they know? Of course they could. I could tell you countless stories of folks moving from house to house within the same community.
Or sellers believe burglars are casing the joint so they can pull a job at a later date. This is confusing the possible with the probable. You could get hit with a meteorite but you still go outside without a helmet.
No one knows where a buyer may come from. EXPOSURE of all kinds is what gets a house sold, period!
Five Tips to Draw a Big Crowd: Preparation is The Key (not cookies)
- Have your agent put about 20 signs out at all major intersections with your house address on them and carefully guide the visitors to your house. One or two signs is not going to get the job done.
- Call at least 50 people around the house and send at least 100 postcards to the same people. Then, send a personal thank you card to any that come and visit.
- Post in the MLS since all aggregations sites like the local paper & Zillow pull directly from the MLS. Surprisingly few agents take this strategic step.
- Send an email all agents who have sold in that area over the last year inviting them to an open house or a private showing at a time of their convenience. If the location is on a busy commuter street, consider holding the open house on a weekday afternoon during drive time.
- Post an ad on social media. Your agent should be targeting buyers with ads on Facebook and Google PPC. If they are not, ask why not.
One Last Thought
How do all new homes get sold by builders? Simple, they hold OPEN HOUSES EVERY DAY!
Remember, HOPE is not an effective selling strategy.
If you would like to have a confidential conversation about getting your house sold quickly contact me directly at 561.762.4073. The market is hot and this might be the perfect time to move forward with your plans. I have been helping sellers for 13 years and can do the same for you.