Many Chicago Home Sellers believe that open houses market and sell their property …
Unfortunately home selling from an open house is very rare. Statistics show that open houses are not effective at selling homes and only less than 1% of homes are sold as result of open houses.
This is because the people that actually got to them are just beginning their home search and most likely are not ready to buy yet and/or are not pre-qualified. You will be also surprised at how many neighbors go to the open house who aren’t even interested in buying, nor do they know anyone who is.
Serious buyers do not attend open houses these days and over 90% of them look for listings and all information related to home buying or selling process online. They search for homes, check all information, pictures, virtual tours, home’s layout, description, comps (prices of similar homes sold recently in the same area), property taxes, school district and call Real Estate Agent ….. to schedule private showing to go and look at the homes all together they like within few hours.
So why some agents hold open houses?
Open houses help many agents to find new clients (buyers) who might need some help in process of purchasing their new home in near future. In case these buyers are not ready now, the agent can help them to prepare for their purchase and become their agent. Another reason that agents will hold open house is to meet neighbors hoping that they will sell their home with him/her in the future.
I know there are few agents that are skilled at selling property while holding open house, but in most cases – it is a waste of time.
Instead of holding “open house” and waiting 3 hours for couple of “random visitors” …. I think much better and more productive idea is to dedicate that time to Online Marketing.
- purchase domain name and dedicate to your listing
- create a new page with all information related to this property you want to sell
- get professional pictures, virtual tours
- link out to all social media
- show this home everywhere you can for maximum online exposure
There are so many productive and effective ways to market the property so it can sell fast. Properly created online advertisement will produce a lot of traffic so hundreds (sometimes thousands) of potential buyers will visit your home online and these who are ready, pre-qualified and still interested in your property will need to contact their Realtor® to schedule a private viewing.
In this way the seller will avoid a lot of stress and frustration related to open houses and showing their property to wrong visitors.
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