Top 5 Reasons Open Houses Benefit Home SellersIf you go on public video sites, you may notice a myriad of videos claiming that public open houses only benefit the real estate agent doing them. They
5 Reasons Open Houses Benefit
Dated: March 19 2020
Top 5 Reasons Open Houses Benefit Home Sellers
If you go on public video sites, you may notice a myriad of videos claiming that public open houses only benefit the real estate agent doing them. They say that the agents are only doing them to get additional buyers and promote other homes for sale while at the current open house. According to many of these videos, Public Open Houses are not worth the time and effort that a seller takes to have to leave their home for a set number of hours while an agent tries to convince potential buyers to even come view the home saying that a large percentage of these people are just "tire kickers" that have no intention of buying in the first place. Pretty damning videos if you ask me.
But I believe all is not lost. There are many reasons for home sellers to allow agents to do open houses. Here are what I believe to be the TOP 5 REASONS THAT OPEN HOUSES BENEFIT HOME SELLERS in no particular order.
#1. Obviously getting a large number of potential buyers through the house in one period of time is important. An Open House can sometimes attract a dozen or more groups of people through the home in a 3 or 4 hour period. This is good for the sellers because an open house will usually get more people through in those few hours than will make appointments for the entire rest of the week.
#2. Agents can directly gauge potential buyer interest and qualifications by asking important questions and seeing buyer reactions as they walk them through the home. They will be able to see which buyer has the interest and potential to buy the home and which ones seem uninterested or are just looking and unqualified.
#3. Agents doing the open house and working for the seller can then give direct feedback from the actions and reactions of the various potential buyers as they move through the home. This is as opposed to trying to get feedback from real estate agents that have made appointments and showed the home during the week. This avoids the phone tag type of feedback that most agents give that may not be as accurate as it should probably be, and if you can get the feedback at all.
#4. Seeing a crowd waiting at the open house to even get in to view or seeing a crowded open house creates a sense of urgency that would not be present if agents made single and seperate appointments throughout the week. Seeing this sense of urgency may be just the catalyst to get buyers off the fence to make an offer or even promote the potential of multiple offers. Anyone can see how this would benefit the home seller.
#5. There are lots of buyers working with realtors that like to take some time on the weekends by themselves and go to various open houses. They are busy people and the weekends work into their schedule as opposed to working all day and then having to get into a car to view homes as they are tired and it's getting dark. Doing this helps the sellers greatly as these potetial buyers now do not have to schedule appointments during the week that serve to interrupt the home owners lives and daily routines during their off hours. Especially when a home is particularly desirable and creating lots of traffic.
Understand their are many more reasons that open houses benefit the home sellers.
Click here or a more complete list;
You probably know how important it is to find the right real estate agent when you are focusing on a financial investment as substantial and as personal as your home. What you should know about me i....