July 14, 2024

Real Estate Open House Tips

An open house is a scheduled period of time in which a house is designated to be open for viewing by potential buyers.

real estate open house tips
real estate open house tips

 

Real Estate open houses rarely ever work to sell a home. The National Association of Realtors reports that less than 2 percent of all homes are sold via an open house.Open houses benefit a real estate agent and that is why so many will take the time out of their day to do them.

real estate open house tipsSan Diego California home for sale

What most people don’t realize, is the truth is, that that real estate open houses are really ineffective in actually generating a solid transaction to sell the property that’s held open.

Yes, the home that is held open rarely if ever generates a buyer for that home from holding a open house. Actually, the National Association of Realtors, has reported that less than 2% of all the homes sold, received offers that were a generated from holding that particular home open for the general public.

So, you might be thinking, why do real estate agents hold homes open, if the practice has been shown to rarely if ever generate a solid buyer for that particular property?

Well, the truth is, that open houses are effective, yes, will I very effective, but, not for the homeowner of the property that’s held open, but, for the real estate agent that runs the open house. Yes, this is the real reason you see a lot of open houses especially in normal to slow markets.

Real estate agents who run open houses generate many local neighbors and property owners who come by to look, because they are contemplating selling their property sometime in the near future. Also, many other visitors to the open house are looking or thinking about buying a home in that particular neighborhood some time in the foreseeable future.

So this is the real reason that agents spend the time to hold open houses . . . They are looking to gain a list of future potential sellers and buyers and not really hoping to sell the property that they are holding open. The average homeowner, believes the agent is really marketing their property by holding it open, but, in reality they are just using this house as a lead generation tool for future business.

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Real Estate Open House Tips