Tips for running an open house

As we head into the traditionally busy spring selling season, an increasing number of properties may come onto the market as more vendors look to make the most out of rising buyer demand. The conducting of open houses during this period may prove to be a successful strategy for ensuring that property listings get direct marketing exposure before going to sale. 

There are several factors to consider before conducting an open house for a listing:

Be conscious of the fact that that not all properties will be suitable for an open house strategy. It is important to consider any accessibility issues as well as the likely impression that the general streetscape will give attendees; 

Understand that vendors may be anxious about opening their home to strangers. In such cases, it will be important to explain to them the potential benefits of an open house, and also ensure that they restrict access to all valuables;

Attempt to strike a balance between de-personalising a property for display and maintaining its uniqueness. In neutralising the space, it is important for you to ensure that the owner does not remove design or structural aspects that enable prospective buyers to forge immediate personal connections with the property;

Before conducting an open house, it is important to implement a targeted marketing campaign across multiple mediums. This may entail advertising the listing on property websites and in local media outlets to ensure that buyers are aware of the property;

Consider the accumulative effect that open houses might have on widening the pool of potential buyers for a property.  This means making sure that neighbours, friends and family  are all made aware of the open house so that word-of-mouth has the best chance of spreading;

When conducting an open house it is important to make sure that you are as well presented as the property; the impression that you create as an agent can sometimes be an influencing factor on a purchaser’s decision to buy or refrain from buying. 

Posted by Reality Bytes - Real Estate Training Blog on 10/09/2012 at 12:00 AM | Categories:

2 Comments

TDI Builder in Mohali

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