OPEN HOUSES ARE IMPORTANT FOR SELLERS IN A BUYERS' MARKET
Realtors® used to quote the accepted statistic that only two percent (2%) of homes sell from Open Houses. The thought was that Realtors® used Open Houses to find new Buyer clients to sell other homes on the market.
Flash forward to the Buyers' Market we are in today.... We have a glut of homes for sale on the market. Buyers are like "kids in a candy store" looking at as many homes as they can, both by themselves at Open Houses and with Realtors®. Sellers need to have their homes "stand out from the crowd." One important way to do this is for Sellers to ask their Listing Realtors® to hold Open Houses. Some Buyers won't contact their Realtors® to view a home until they have previewed it at an Open House. As Buyers' Agents, we encourage our Buyers to view as many Open Houses as they can when we aren't with them.
Fact is, in a Buyers' Market, Sellers need to use every avenue possible to reach Buyers. Open Houses have become an important tool in each Seller's Marketing Plan.
Steve & Pat Pribisko