Open House, Broker Tour and getting the word out
Open Houses have a terrible reputation on the internet. Almost every article we read said the open house benefits the agent, not the home. The important question is Does an Open House sell your home?
Our unique market changes rapidly. We see Buyers visiting open houses on their own without an agent. We would agree that it is unusual to have a buyer walk in and make an offer from an Open House, but it does happen regularly. One of the most locally famous homes we sold was from the open house signs.
We recommend you allow us to hold Open House the first 2 weekends your home goes on the MLS. We have found the first 2 weeks on the market is the busiest time for home sellers. You can have 3 to 5 showings a day for those first two weeks and it can be overwhelming for families with children or people with heavy travel schedules. Open House relieves some of the pressure of the first couple of weeks.
The National Association of Realtors’ most recent statistics are as follows:
This is where buyers found the home they purchased:
• Internet: 52% - Up 1% from their 2018/2019 report
• Real estate agent: 29% - Down 5% from their 2018/2019 report
• Yard sign/open house sign: 6% - Down 2% from their 2018/2019 report
• Friend, relative or neighbor: 5% - Up 1% from their 2018/2019 report
• Home builder or their agent: 6% - Up 4% from their 2018/2019 report
• Directly from sellers/Knew the sellers: 2% - Up 1% from their 2018/2019 report
• Print newspaper advertisement: 1% - Remained the same
Source: 2020 National Association of REALTORS® Profile of Home Buyers and Sellers
Broker Tour is a weekly meeting of the agents and brokerages in town. Following the meeting, agents tour homes recently listed for sale. This is a good way to reach many agents at one time and is well worth having your home on tour. Your agent will be there to host your tour.
