Does Having An Open House Really Get Serious Buyers?
December 6, 2009 by
Filed under Carpet Sales
I have my house on the market in Ohio. Ohio is very slow in sales right now. The house has been totally renovated in 2006 using corian, cherry woods, new carpet, ect. We are not getting any bites and I’m wondering if holding an open house will really generate any serious buyers.
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I think it’s more important to get your house on the “tour” of the realtor boards for your area. In Ohio that’s usually a day when your local realtors visit 4-6 houses in their area once a week to “check it out”. If you have a realtor make sure she or he gets your house scheduled for that tour day to give other realtors an opportunity to recommend your home to their prospective buyers. I just came from just such a meeting in Sunbury (Fridays), and the one in Delaware meets on Wednesdays.
An Open house sells only 1% of all listings.
You need good marketing and a Realtor with a good network.
If you are not listed with a Realtor, e-mail me and Ill see that a good one from your area gets in touch with you.
Look at your price. While it’s a nice house, you may want to lower it or say you will pay for 3% of closing costs.
Sometimes open houses get a bite. Other times, just getting the word out either through a reality company or a FSBO website. You WANT people to nibble.
Also, do you have it staged? You want people to well warm and inviting but also feel like they can put their stuff in there.
Having an open house certainly won’t hurt. A not serious buyer might absolutely fall in love with your house and become serious.
70 to 75 percent of home sales are sold threw the MLS.
I think your question has two possible answers. 1. I think people just wander around open houses sometimes, but 2. Most open house guests are “Potential” serious buyers.
I will use myself as an example: I am currently selling my home and looking for another. I will find a house I think I really like and make an appointment to see it and then be dissapointed. But, I have also gone to an open house of a house I did not think I would like and ended up making an offer…that is how we found the house we currently have an offer on.
Open houses usually get more casual gawkers than serious buyers. A lot of bored people make it their Sunday afternoon outing to go through open houses. Is your real estate agent doing everything that can be done to promote your property? Is it priced in the range of what other comparable properties are selling for (not LISTED for, but selling for in reality)?
It couldn’t hurt…
There are mixed feelings among realtors about the open house. If I have a house that people need to walk through because it has a great floor plan or nice details inside, I would definately hold an OH.
You will get alot of neighbors, professional home shoppers, and looky-loos but you may get a few people really interested in your home.
In my humble opinion, it doesn’t hurt to try.