I’m often asked by prospective and current clients about the success rate of open houses. Do they work? In my experience, yes and no. I have found that Agent/Broker Open houses have the best track record. I can’t tell you the number of neighborhood open houses I have hosted over the years with ads in the paper, online, various social media outlets and signs everywhere to have only the next door neighbors show up to talk about the kitchen drapes. Granted, it only takes that ONE buyer to get your home sold but low attendance isn’t going to get you there. My goal is of course to keep my clients happy but happy means a sold home. The more prospective buyers your home can be exposed to, the better.
A Broker open can do just that. On average, a broker is communicating with five to eight buyers, we call it incubating, several times a week touching base on what the current market conditions are, what might be new on the market or what on their top ten list may have sold. . .and what new gems we may have previewed that week. So, on a quiet Tuesday afternoon, a broker open with fifteen to twenty in attendance possibly means your home was exposed to 75-160 prospective buyers.
A caravan is a great and super fast way to preview homes, it’s sort of like speed dating. My firm and a few other Century 21 offices in the area gather every Tuesday morning after our sales meetings to tour our new listings in a portion of the county. There’s only so much time in a day, so, we limit the number of homes to about fourteen. It’s a great way for new agents to learn the area and for every agent in attendance to have some great homes brought to their attention.
Both events of course get traffic through your home, but possibly even more important is the feedback the agents provide. Is the home clean enough? Are the paint colors too much? Is the home over priced? Are there any offensive odors? Is the home too overstuffed for it to show well? Are there better ways to arrange the furniture to show off the floor plan?
I’m hitting a few open houses again today. Which inspires me to forward things on to specific clients as well as scrub my baseboards. . .nothing like touring several immaculate homes to make you want to race home and get some spring cleaning done around mi casa!