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Many homeowners underestimate the power of holding an open house when selling their home. Now, more than ever, with our economy the way it is and the state of our real estate market – it only makes sense to do whatever it takes to get the house sold. One of the best ways to achieve success is to show as many people the home and get word out to as many people as possible. Here are five reasons why an open house is a great way to accomplish this goal:
The Ripple Effect of Exposure
Potential homeowners, prospective buyers and Realtors who are in a position to connect the two are all exposed to quality homes through open houses. As an added measure of advertisement, an open house is the perfect way to show off a home or property to a person or group of people who will most likely spread the word virally. Many times you will reach unsuspecting individuals who may have been alerted by someone else who has visited the home. We have seen some cases where someone who had no intention of buying a home did so after they were told of a home seen at an open house.
Neighbors and Realtors are both your allies in your quest to sell your home. Neighbors are among the best people to share news of your open house and the home itself because they are living in the very same community and they can vouch for it. Realtors have the unique position of being able to serve and be exposed to people who are seeking quality homes as well as selling. They are familiar with the areas in which they are selling homes and can also vouch for your property.
Pictures Don’t Do A Home Justice – A Walk-Through Is Tangible Evidence of Features
Many times the photos that are posted along with MLS home listings only show a very limited side of the home. The space and/or size of a home are not accurately depicted in photos and it is impossible to share all aspects of the home through one-dimensional media (written and photographic content). Though there are tools online lately that work to supplement the old school listing format, such as YouTube videos of the home, bird’s eye view maps or virtual tours – nothing is as effective as walking through the very walls where a buyer would place their own furniture or see themselves living.
Prospective Buyers Can Visualize Themselves In A House As They Walk Through It
Being able to imagine living in a space as they walk through is a powerful selling tool for homes. Physically opening kitchen cabinets, walking out onto a deck and experiencing the breeze, as it would be if they were living there and other such first-hand experiences all directly impact a prospective buyer’s decision-making process. You also will avoid losing potential offers by those people who may not like what they see in photographs and may be missing out on the real deal because the pictures are not showing the house as it is. Many buyers shortlist at the listing stage and only view a few homes that they may have really liked based on the initial exposure.
Seeing Others Vying for the Same Property Prompts Serious Buyers to Come Forward Sooner
Regardless of what is being sold, whether in a clothing store, car showroom or a real estate open house – there is something to be said about competition. As people walk through a home while others are also walking through and possibly vying for the same property, those who are serious will be prompted to express their interest sooner. In fact, it may even yield a better selling price for the seller if there are more than one offers on the table – all a product of successful open houses.
Surprises That You Wouldn’t Expect in Listing Photos, Show Up in An Open House
No matter how much one may try, there is only so much that can be shown in photographs. During an open house, prospective buyers will get a feel for a room’s character or they will be able to sense how clean and fresh the home is (pictures don’t show pet or smoking smells). Small features and amenities like extra storage corners or interesting architecture – many things like that – are shared during a walk-through and allows a buyer to immediately know whether it is a home they may be interested in or not.
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There are so many advantages of having a house opened for showings and walk-throughts and it is a strongly advised tool that many Realtors encourages sellers to engage in. The concept is simple: the more people that walk through your home, the more people will like it. The higher chances you will sell the home.
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