The Reality of the Open House
5 Tips to Tell Your Sellers before an Open House
Posted by: Maya Paveza Inc.
Whenever I take a new listing one of the first questions I am asked by a Seller client is will I do an Open House. The answer to that question is often a question, “Do you want an Open House?” Often the answer is no, as many Sellers are already aware that their neighbors are just chomping at the bit the second the For Sale sign goes up to get in their home and size it up.
Some Sellers don’t care, some don’t want their neighbors potentially rifling through their dresser drawers or medicine cabinets, and desperately decline the option. For those Sellers who do want the Open House, my follow up question is, “What do you expect the results of an open house will be?” The answer is often a pensive stare, and a speechless moment.
Client expectations of what an Open House does to sell their home, isn’t always in line with the reality of what an Open House does accomplish. Open Houses typically get the Real Estate agent the opportunity to connect with a prospective Buyer Client. I believe the statistic I had read most recently was that less than 4% of properties sell as a result of an Open House (when I asked the question on Twitter, Rob Marchitti replied that it was 5%). So the Seller expectations that the Open House will be the miracle solution to the sale of their property is a disappointing, not usually.
So as a Seller, are you really motivated to sell your home? If so then you need to look at other factors in the Sale and seek solutions there. Here is what I tell all my Sellers at the time of listing.