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How Open Houses, Enhance & Compliment Real Estate Marketing & Sales Results In the Technology Age.

How Open Houses, Enhance & Compliment Real Estate Marketing & Sales Results In the Technology Age.

Open House Results
The is no question that with the use of Smart Technology in today's real estate marketing, Open House are not very high tech, but they still offer a much needed and beneficial marketing advantage over not providing this "low tech, high touch" approach to marketing any property for sale.

With the huge degree of integration of technology in the marketing efforts of today's tech savvy Realtors we commonly see things like:

  • Floor plans,
  • Video and slide tours
  • Virtual Tours
  • Social Media,
  • Blogging
  • Computer generated property searches
  • Google and other search engine searches
  • Craigslist Kajiji, E bay,and Used Victoria.
  • Dedicated Company, Personal and even property only Web-sites
  • Q R Codes, and Mobile Web-sites
  • And the more common marketing by way of  MLS systems, Print Advertising.
  • Personal showings by agents.

The one thing that all (except for viewings with an agent) have in common is that  potential buyers are not actually visiting and experiencing the homes in person......
Now, we don't know about you, but I would never buy a car without test driving it, or buy a new outfit, wit
hout making sure it fits properly.....Although we have Open House Resultsactually sold property without the buyer stepping in to the house before they bought, it is still very rare, and unlikely a trend to change any time soon.

Unless we can truly emerge ourselves into the home, land and location experience, walking trough the home, the yard, each and every space, it would appear to me, that attending open houses very much offer a perfect opportunity for potential home buyers to visit and experience a home and property, hands on without much if any inconvenience to the seller and or anyone else. Even with the introduction of 3d into Video, we do not really think that this will dramatically change the way buyers will want to " test drive your home" or "experience if your home is a good fit for them".

For Home Sellers open houses expand the reach their property and their marketing efforts will have to the market place and a larger group of potential buyers. For Home Buyers open houses open the door to allowing them to experience, touch, fall in love with your home as you did, when you bought it.

As a long time Realtor Team, Peter and Linda have been around Victoria BC real estate long enough to know all the reasons why some Realtors will advocate for and against open houses, the most common reasons offered against having open houses are typically:

  • Those that visit open houses, are just doing so to get decorating ideas. (but it would not be the first time that those that came for ideas, ended up buying the home)
  • Very few homes are bought by the people visiting the open house. (although true,statistics indicate about 5-10% do.  However how many of the people that saw your property anywhere else ended up buying it......... we estimate less than 1/100th. of 1 %
  • Only the nosy neighbours come and visit. (even if this was true, and it is not, we know that many people living in your are have friends and family that may want to live where you live today).
  • What is the point of having all these people walking through your house, most of them will not qualify for it anyways? (not only unlikely, but even if it were we have been able to find financing solutions where others have not?
  • Realtors only want to do open houses to pick up prospects that they will sell some other property. ( there is some truth to this, and will happen from time to time, but if the agent is a true professional, they will always put your objectives and goals before their own.)
  • Some Realtors will say that open houses are a waste of time.....(what many really mean to say, that they feel it is a waste of their time).

It has been our experience that there are many advantages to open houses that may not be as obvious initially, but will really benefit the seller not just in the sale of their property.
We have added a short list of some of the Home Sellers advantages to have open houses on a regular base for your property.
We all want to test drive our new home

  • It allows potential buyers to test drive your home
  • It allows for those just starting with the home buying process to see your home during an open house, and even if they find it not to be a good fit, they did not waste your time with a scheduled appointment at a time that may have been inconvenient to you.
  • Allows your agent to meet and qualify the buyers ability to buy your home.
  • Allows neighbours to invite their friends and family to bring potential buyers to you home with out feeling like they are acting like nosy neighbours.
  • Allows people that are looking for specific locations, to experience your home and location even though the home type was not their initial plan
  • It reduces the number of showing during the week by people less committed to the buying process (yet).
  • It increases viewing by those that feel that they "do not want to bother you"
  • We actually sell homes at and or because of an open house, either by people that visit at the open house and ask us to assist them during the open house , or those that decide to select their own agent, either is great news for the sellers.
  • Over all there are few if any real downsides to conducting open houses for your property if and when the time comes to move for you as a home seller.

We hope this information has answered some of the common questions and objections that we hear from time to time about the benefits and or downsides of using an open house in the marketing and sale of your property. As you can tell, we are very much in favour of providing this added level of service to our clients, however if you feel it offer no benefit to the marketing and saleability of your property, we would be delighted to discuss it with you.

 

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Peter Pfann,

CPCA, ABR, SRES, E-Pro, IMSD, Master ASA, C-CREC, Associate Broker.

Text or Talk To Peter @: (1) 250 - 213 - 9490  

peterpfann@gmail.com  www.pfanntastic.com

Pfanntastic Properties in Victoria, BC, Canada, @ Fair  Realty Since 1986.

Regional office: 1540 Fort St Victoria, BC V8S 5J2

 

Comments

Peter & Linda, I agree, open houses don't have the same importance as an "open house" as it did in the past, but with Buyers not wanting to commit to an Agent, it is even more important to get them inside without the hassle.

Posted by Evelyn Johnston, The People You Know, Like and Trust! (Friends & Neighbors Real Estate) about 9 years ago

HI Evelyn,

we feel very much that open houses are in fact very important for both the seller to gain added market access to buyers, and for buyers to feel able to have access to properties at their convenience with losing control of their level of interest and commitment.

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) about 9 years ago

Linda & Peter, this is a great list of reasons "why" to hold an open house and gain a steady stream of home buyers!

Posted by Regina P. Brown, M.B.A., Broker, Instructor (MBA Broker Consultants) almost 9 years ago

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