This weekend was another successful open house! For a long time many agents have declared the open house as a thing of the past, but I am here with proof that it is back in a big way. In mid 2016 we are in a strong sellers market, and an open house that is done effectively can be a win-win for sellers, buyers and everyone involved.
I have hosted 3 open houses in the last month or so for my new listings, and each one has resulted in multiple offers from the open house! Private showings can be sometimes be on a regimented time-schedule, and include the buyers agent attached at the hip around every corner. Buyers love the opportunity to visit the house on when they choose, take the tour they choose, and spend as long as they want on the property to get a true sense of how it feels.They also get to see what reactions the other interested buyers have to the house. Also, the open house is perfect for the casual buyer, or the buyer that is just starting to look at houses. This a non-committal way to get out and see what is available in the housing market.
The benefits to the seller include creating a buzz about your property. Hosting an open house with proper marketing creates a sense of urgency among buyers that their opportunity to see and purchase this house is happening on that day. The buyers that come that day witness first hand other buyers talking about furniture placement, and having quiet conversations about their interest in the house. Seeing this can help to incite some FOMA (Fear Of Missing Out) in some potential home buyers, and in turn a bidding war over the purchase of the house. For a listing that does not have an open house, the “make your offer now or miss out” feeling is not as clear and present as an open house that is so busy you must wait your turn to go inside. Also it is much more convenient for sellers when most all of the showings of your home are condensed into one afternoon.
It is true that right now is one of the best times to sell a house. There are shortages of houses for sale in most markets, and lots of people aggressively wanting to buy. So naturally lots of people think “I can sell my house easily now on my own, why would I want to hire a Realtor to help me sell”? Now more than ever hiring an experience professional help navigate you through the process of timing, placement, negotiation of offers, and over all marketing of your home sale is a decision that will ultimately result with more money from your sale. Just ask my last 3 seller clients how they feel about accepting offers that are 5 – 10% higher than their asking price? If you are interested in finding out more about how Vail Realtors can help you fetch top-dollar for your house, feel free to contact us over at vailr.com.