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With the popularity of online shopping and virtual tours, some people are of the opinion that an open house is a waste of time. However, sellers should think twice before discounting this time-tested strategy. Here are some things you need to know about hosting an open house!
What Is an Open House?
Unlike an individual showing, an open house allows anyone to view the home, whether they currently work with an agent or not. It’s an excellent way to attract buyers new to the market or just beginning a search, those without an agent, and even sporadic buyers who aren’t necessarily in the market but share the information with family and friends.
Who Should Host an Open House?
Hosting an open house is not for the novice. Real estate agents not only provide the marketing, scheduling and even security advice, but make sure the home is properly presented to prospective buyers who decide to drop in and see the home.
How Do Open Houses Sell a Home?
Higher-Priced Homes: An open house is often effective in helping to sell homes priced above the median average for a given location, especially when used in combination with the Multiple Listing Service and online listings.
Tough Market: In 2005, more than 50% of sellers used an open house, with various degrees of success. However, that rate has declined in part due to the numerous foreclosures on the market. Unfortunately for sellers, trying to compete on price alone is difficult – and costly. Instead, use an open house to showcase the property and the neighborhood. It’s one more way to help your house stand out from the crowd in a buyer’s market.
Unique or Uncommon Features: Without doubt, one of the most important reasons to hold an open house is to showcase a unique property or special features that are difficult to communicate or conceptualize. Sometimes it really is necessary to see a property to believe it, and an open house allows the buyer to fall in love at first sight by experiencing it firsthand.
For many realtors, the notion of marketing is simplistic. On the digital side of the spectrum, there are resources like Zillow, Trulia and Guidance Realty that enable agents to successfully connect with interested buyers and renters.
And on the physical side, agents can often get by on nothing more than excellent networking skills and referrals from past clients.
Summary: In Part 1 & 2 we shared 4 behaviors that would add meaningful value to your home search, in this post we will share the final 2 behaviors, providing a comprehensive rubric to evaluate your real estate agents.
Summary: In Part 1 we shared two behaviors (dedication and flexibility), that would add meaningful value to your home search. In this post we have added two more behaviors, check them out below.
Finding a full-time agent is a foundational first step in the evaluation process. Someone who is only working in the field part time can only focus part of his or her energy on your needs. And in an industry that requires agility and speed to successfully sell or purchase a home, anything less than full-time focus simply will not cut it. Read more
Summary: In our 3 part series we will be sharing 6 behaviors from interviewing our Gold Agents that resulted in an exceptional home buying experience for their customers.
Buying a home is arguably one of the most monumental purchases you will ever make. Consequently, it’s important for homebuyers – especially first timers – to utilize all the resources at their disposal before diving into the decision-making process.
And while one’s personal network and independent research are a good starting point, finding a trustworthy real estate agent can be integral in helping homebuyers find the most suitable property available.
However, as in any industry, there are poor realtors who can be a stumbling block for those with whom they intersect. Consequently, the question arises how a prospective homebuyer can differentiate the truly excellent realtors from the posers.
Well, since part of our goal here at Guidance dbc | Mortgage is to educate, we put together a list of behaviors for homebuyers to look for that would suggest a realtor could add truly meaningful value to a search.
Let’s take a closer look.
DID YOU KNOW? For the third year in a row, difficulties in obtaining financing was the single greatest factor in preventing real estate agents from expanding their customer base. All the more reason for realtors to sign up as a Gold Agent at Guidance Realty where we connect great realtors with qualified potential homebuyers. Learn more by visiting: http://