Open Houses - How your Realtor should hold an Open Houses

Open houses.

The professional real estate community appears split on whether it's a good idea to hold open a house for sale; although, I don't really understand the negative thoughts. It doesn't make sense to blatantly announce that no house should ever be held open, yet agents say it. Why would an agent want to restrict market exposure for a listing?
Common sense says it's smart to expose your home to the largest number of buyers, and getting buyers inside to preview a home is a huge hurdle to jump. It's like keeping the house for sale a secret and saying, "Sshh, let's not tell anybody about this house or invite them over to see it because it just might sell!"

A side benefit for an agent to hold open a listing is the real estate agent might receive buyer leads just from being in the right place at the right time.

The successful real estate agents in a sellers market report that at least 20% of their sales, or one in five homes, sell through an open house.  While in a buyers market, homes sold via an open house are rare.
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Why Some Agents Don't Hold Open Houses

There are many reasons why some houses just aren't suited for an open. Here are a sampling of those reasons:

• Too many listings. Agents can't be in two places at the same time.
• Too much inventory to pull in buyers driving through the area.
• All the homes in the neighborhood look the same.
• Inclement weather discourages venturing outside.
• Sporting Event Sunday football or NBA Playoffs.
• Home doesn't show well; too messy, smelly or cramped.
• To far off the beaten path of traffic.
• Gated Community.
• Association Prohibits
• Municipality Prohibit Open House signs.
• Condominium in the center of a complex that is hard to find.
• Agent apathy.
  
  Before we start
  Not every home is suitable for an open house due to location or other factors, and sometimes the only way to determine that is to try it. If nobody comes, that's probably a good indication. However, if your home is located near a high traffic area where buyers often swarm, then it's a good candidate.
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Hosting a Successful Open House

Assuming your home is presentable, spotless from top to bottom, priced correctly and located in a high traffic area, here are tips to improve the odds your house will sell at an open:

• Advertise in your daily newspaper. Write colorful, descriptive ads and place them in picture classifieds or open house directories. Include a regular ad in the Sunday newspaper.
  Talk to your listing agent about the newspaper ad, as it may cost $300 to $500 without branded deals. This is why you only see luxury homes in a newspaper, because it is expensive and yields little results.

1. Attach strings of balloons to your house sign. "If weather permits'"
2. Your listing agent will find the busiest intersection closest to your home and put an open house sign at that corner.
3. The arrows should point buyers in the right direction. Place many signs at least 10
4. Place a sign every few blocks until you end up at your house.
5. If your association prohibits signs, they must be place outside your community.
6. Your Agent should send out invitations to neighbors and near by rentals.
7. Gated communities will required advance notification to the gatehouse and association.
8. Warning! Some cities prohibit signs or open house "Don't force your realtor to do an open house in this citation as you may receive a fine from local authorities.
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   Tips for Open House Day
   
   Be ready for your listing agent...

• Remove all vehicles from the driveway. Ask your neighbors to help out by not parking in front of your house.
• Open all the drapes, blinds and window coverings –– let in that light.
• Do not put spices on the stove to simmer without offering cookies, and do not, under any circumstances, use an air freshener because many people are allergic to synthetic odors.
• Do use one or two lightly scented candles where appropriate.
• Turn on every light in the house, except lights that produce noise such as exhaust fans without separate on / off switches.
• Turn on soft music on each floor to help set a mood.
• Have available four-color flyers filled with quality photos and reasons for a buyer to purchase your home.
• Your agent will put out flyers that contain financing options so buyers can readily determine their monthly mortgage payment.
• Serve refreshments and snacks or, depending on your budget, maybe a catered lunch.
• Create a bulletin board of seasonal house photographs so buyers can see what the home would look like at another time of the year. This is especially helpful to showcase gardens during the winter.
• Set out all documents pertaining to the house:

1. Inspection reports
2. Appraisal or comps
3. Major repairs & warranties
4. Blueprints for additions or future possible improvements

• Your Listing agent should be upbeat, cheery and greet each buyer who enters the home. He/She
  will find out what the buyers are looking for and, if possible, show them why your home fits those requirements.

And finally, Your listing agent will ask for feedback. He/She should ask each buyer what they thought of your home and would they consider buying it. Agents and sellers are hesitant to ask for a buyer's opinion, so just grit your teeth and ask. It's the only way you're going to get a direct answer, and the answer just might astonish you. They might decide to sit at the kitchen table and write an offer. It happens more often than you would think! Inquire about listing your home or property with The Keyes Company and The Home Team Today:
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