Open Houses – to do or not to do, that is the question. This is such a great topic to discuss!
I feel there was a time and place for open houses, but times, they are changing! You have to remember, when homes were placed on the market back in the 80’s, there was a real estate binder that was put together with all of the listings. You would meet your client at the office, go through the binder, and then pick the homes you would like to see. The MLS did not have pictures as it was not even on the internet yet! Zillow and Realtor.com did not exist, virtual tours were not being done, and social media marketing was non existent. In that type of situation, an open house was key to build up showings and traffic.
But we are entering a new decade, 2020. The amount of information in the hand of the buyer, day 1 of a home being listed on the MLS, is massive. Open houses now, are strictly a tool for us agents to build our business. Statistically, only 1% of open houses actually produce the buyer for the home that was toured. This is not the best use of the sellers time.
We have a digital buyers world where the priorities on how to market your home are shifting. Buyers make their choice to see your home based on the pictures – in fact – 93% of buyers start their home search online. Buyers want to see professional pictures, a home that has been staged for optimal views, a virtual tour, and a floor plan. They do more research before they even want to step foot in a home. The right marketing matters, therefore, the right agent matters!
