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Open House, Should you do it or not? PDF Print E-mail
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Written by Becky   
Wednesday, 10 October 2007

Many realtors think open houses are a key selling tool, but there are those out there who say no. Based on a study done by the National Association of Realtors, almost 80% of home buyers began their search with the internet last year, while 42% first used an open house to search for a home.

 

John Hodnett, a broker with Lila Delman Real Estate, feels they are useless, and that they attract more curiosity seekers instead of prime and serious buyers. He thinks that serious buyers are more likely to call directly instead of go to an open house; they want more one on one time. Of course he does admit there are certain benefits to be had with an open house: less pressure for buyers and it is good to get a first hand view, it can promote more interest, also open houses can get the sellers in gear to clean and attend to the home.

 

Many realtors are now putting their money into Internet tours, so a potential buyer can view at their own convenience, but at times, even though one can now view many features of a home online, you need to have a first hand glimpse to get the whole picture. Also some realtors bring up a great point, according to Walter Molony a spokesman for NAR, open houses are a great way to connect realtors to many potential buyers. If the buyers are not interested in the house in question, it is a great time for the realtor to mention other properties they are trying to sell.

 

Open houses also make the seller feel more confident and secure of the realtors´ abilities; it shows they are trying to sell your home, and that they are working to get it done. Note, this might not be the case for the more high end market, as the more valuables you have in your home, equals the more opportunity for theft during an open house, or what if you live in a small community, and all of a sudden every nosy person in the World decides to drop in. In the end each realtor will have to decide for him or herself if they feel an open house is worthwhile or not.

 
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