The internet has become a powerful tool when looking to buy a home. You can now easily browse through properties using advanced filters and search engines to find a home in your perfect location and within your price range.
With so many advancements in real estate technology, the real question is do open houses effectively sell homes? Some experts think that the answer is no.
According to the National Association of Realtors, just 7% of buyers found the home they bought by visiting an open house or seeing a yard sign. In fact, more than half of buyers are doing their home buying and browsing online.
Homebuyers now have the power to filter through thousands of homes for sale based on price range, school district, number of bedrooms and so much more without ever leaving their couch. Once they have narrowed down their search is when they would contact a real estate agent to set up a showing rather than waiting for an open house.
In addition to new technologies, the increase in online browsing has to do with the covid-19 pandemic. The pandemic put a pause on in-person opened houses and left people wary of having strangers in their homes. This caused many potential buyers to turn to the internet to browse.
That is not to say open houses serve no purpose. Increasing traffic is extremely necessary when trying to sell a home and open houses certainly do attract eyes. The more traffic you have the more likely you are to find the right buyer.
Also, for some people, attending an open house takes the stress off of finding a home. They are able to see multiple houses in one day without the stress of coordinating meeting times with an agent.
However, sometimes these are not the eyes of serious buyers. Opened houses often attract strangers who enjoy looking at homes or nosey neighbors wanting to get a look inside.
If you do choose to host an open house, the following are some tips to ensure you are getting the most out of the experience.
- Make your open house memorable. The potential buyers coming to your house are likely touring many other properties on the same day. Set up a snack station in the kitchen or light your fire pit on the patio. This gives the viewers an idea of how your space can be used and generates warm, hospitable “vibes” that your visitors will remember.
- To ensure you get as many guests as possible, make sure you are promoting your showing as much as possible. Social media is an effective way to get the word out. Try creating a listing on Facebook Marketplace or posting in local real estate groups to draw-in more visitors.
- Remember to protect your belongings. Letting strangers into your home can be risky and open houses can sometimes attract theft. If you plan on having an open house, then it is important to remove any valuables that cannot easily be locked away. Consider removing your jewelry, spending money you may have in desk drawers, and even important or expensive medications from your medicine cabinet.
The real estate market has changed a lot over the last 20 years. There are plenty of new tools to help home buyers more easily navigate the market. However, there are still advantages to an old-fashioned open house.
The real estate market can be daunting to navigate. If you are looking to put your home on the market or have any questions about open houses, then please contact the friendly and knowledgeable real estate agents at the Katie McNeill Team today.
