- Real Estate
Advantage and benefits of open houses
Open Houses Still Work
Does open houses still work? Is real estate open house marketing still effective? Or is it overshadowed by other more modern real estate marketing approach? Does online real estate listing more effective and preferred by buyers? Different buyers, sellers, and real estate agents will have different opinions but of course, to each his own. Some still do open house while others are pressured to do so. Many will question its effectiveness and if it is really worth the trouble of putting up since, nowadays, open houses attracts lesser audience.
If you are still wandering or want to know the true deal if real estate open house marketing is still effective then read on as this post will tackle –
- Why people (sellers, buyers, and realtors) would no longer do open house marketing
- Why open houses can still be effective
- How to make an effective open house event
The apparent “cons” and “disadvantages” of open house marketing
- Open houses rarely sell and the success rate is quite low.
- Online competition.
- Security risk.
- It only attracts local and few audience.
The above mentioned reasons are the main ones why people would no longer host open houses (though numerous trivial reasons may also exist). These people believe that open house marketing is already obsolete as print media. Seller and agents alike thinks that real estate open house marketing is no longer effective as it only draws the attention of people you know or those already in the neighborhood. With only few attendees, then it naturally follows that the probability of the house being sold is also low. Actually, in some scenarios, open houses does not even attract a single viewer.
Technology is also a big contributor why sellers or agents would no longer host open houses. Research shows that majority of real estate buyers turns to agents and the internet to find and look up a house. Needless to say, agents and sellers would be able to save time, energy, and money by simply taking photos of the house for sale, compile the pictures, and post it together with the listed house. Since the house is listed online, it is viewed by more prospective clients. Obviously, any online visitor is a probable buyer. Simply put, posting the house online for listing is advantageous for both buyer and seller in terms of accessibility (as it is readily available) and security.
Security is another issue why real estate open house marketing has declined over the years. Some are concerned about privacy as strangers can have temporary access to their small gadgets, handy furnitures, jewelry, and personal information. Other agents and sellers also have the terrible experience that their time is completely wasted as some visitors are only curious about the décor and design of the house.
Tips for a successful open house
Advantages of open house
Believe it or not, open houses can still be effective – interestingly, open houses still work. The apparent cons of open houses mentioned above can easily be solved.
First off, it is already a given that open houses will only attract people that you know or people local to the area. To attract a broader audience, simply use aggressive marketing – outdoor banners, street banners, posters, flyers, etc… Some people may not be aware but there are numerous printing companies like Egency that can offer inexpensive yet excellent service (ironically, this is due to the rapid advancement of design and printing technology).
Second, instead of competing with online house hunting, it would be more advisable to work with it. When selling something, it is always wise to use any kind of marketing method. Online house hunting has this disadvantage of not knowing the actual house – feel of the house, nature of neighborhood, how to get to the location, etc… Online pictures cannot compete with the actual thing. Open houses are also great opportunities to gather honest feedback like what is good about the house, is it a bit worn, and any part to improve.
Lastly, for those who are worried about some of their belonging and electronics, this can easily be remedied by safekeeping them on locked drawers or cabinets. As for the time-wasters, décor-hunting, seller-spying type of audience, unfortunately, little can be done about them. But hey, you never they are still prospects nonetheless.
Success of the open house depends if it is done properly. Advertising and preparation are essential in hosting open houses. Hosting an open house is like a play, the house is the stage, you are the star, and it is up to you to make a great impression and impact to the audience, the clients.
How to make real estate open house effective
If you are able to promote and advertise the open house effectively, then expect a number of visitors. Listed below are some necessary handouts for the visitors:
- Property Listing Copy
- List of everything included and excluded from the asking price
- Images that can imprint or remembered by the visitor
- Added improvements or extensions
- Feature sheet or property flyer
- The Failures and Disadvantages of Print Marketing
- Reliable Open House Marketing Products
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