Benefits Of Open Houses For Home Buyers And Sellers

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This BLOG On Benefits Of Open Houses For Home Buyers And Sellers Was UPDATED And PUBLISHED On March 6th, 2020

What are the benefits of open homes for buyers and sellers of homes

There are many reasons why a homeowner decides to sell their home.

  • Home Sellers normally hire a listing real estate agent when they decide to market and sell their home
  • The listing agent is responsible for marketing the home for top dollar to the seller and a fast sale
  • Listing Agents will also list the home on The MLS
  • There are many Benefits Of Open Houses for home buyers and sellers
  • Benefits Of Open Houses include a chance of home buyers to ask listing agents and/or home seller questions when everyone is under one roof
  • It makes the home shopping experience much more pleasant when many people are under one roof
  • Other Benefits Of Open Houses is other buyers are present and so are buyers and sellers realtors
  • Many times, a loan officer is present at most open houses

In this article, we will discuss and cover the Benefits Of Open Houses For Home Buyers And Sellers.

Reasons Homeowners Sell Their Homes

There are many reasons why homeowners decide their home. The worst fear of any home buyer is the homeowner selling their home because of the quality of construction.

  • It can be because they no longer want to be a homeowner
  • Or they are getting a job transfer out of state
  • It may be because they are retiring and moving out of state to a warmer climate
  • A homeowner may decide to sell their home either to upgrade to a bigger home
  • Or downsize to a smaller home
  • Whatever the reason is for a homeowner deciding to sell their home, a home will have the best chances of selling in the first 90 days of listing
  • Some homeowners need to sell their home to use the equity of their home to purchase their new home
  • Most homebuyers may not qualify for both mortgages or cannot afford for both mortgages at the same time

Hiring an aggressive full-time real estate agent who the homeowner gets along with is key in the home selling process.

Why Listing Agents Take Advantage Of Benefits Of Open Houses

Why Listing Agents Take Advantage Of Benefits Of Open Houses

One of the most important techniques used by many professional realtors is offering an open house on the subject property

  • Many home sellers are not too keen on having an open house
  • This because they dread the thought of having strangers in their homes
  • The cost of window dressing the home such as hiring a professional cleaning service or landscapers so their homes show well is often paid for by the listing real estate agent

An open house is a great marketing tool in competitive real estate markets. It is a great way of marketing the listed home.  An open house is not just for retail homebuyers but also for realtors who represent clients who are looking for homes in a particular area in a certain price range.

Benefits Of Open Houses Is Exposure

Pictures and videos are excellent marketing tools in marketing homes. However, nothing compares visiting a home that has been decorated in person.

  • Nothing compares to potential home buyers seeing the home in person
  • Offering an open house will set the listed home apart from the competition who does not offer an open house
  • There are so many opportunities with an open house
  • A Realtor can hire a professional staging company where it maximizes the main features of the home
  • A staging company can bring in new decorative items as well as new furniture
  • Staging companies are professionals who know how to maximize the creativity on open houses so it shows way better than the competition

Staging professionals know what the home buyers are looking for.

Benefits Of Open Houses In Getting Multiple Offers

What are the benefits of open homes for getting multiple offers?

Listing realtor is normally in charge of open houses:

  • The listing realtor will most likely do a lot of legwork prior to the official open house
  • The Realtor will most likely invite dozens of realtor colleagues from other real estate offices, pass out flyers, and advertise in local newspapers
  • The main advantage of having an open house is often times, sellers will get multiple people all at once
  • Whenever there is a regular showing, the house gets shown one potential buyer at a time
  • A successful open house can bring in dozens of potential buyers and realtors all in one day
  • Whether sellers want to be present at the open house is fair game
  • Listing realtor and homeowner can talk about it whether there is a benefit of homeowners being there
  • Me personally, if I were a home buyer, it will be nice to speak with the actual homeowner
  • I would be nice to talk to homeowners about the neighborhood or questions the realtor cannot answer
  • It is more personable that way

However, I have never seen a homeowner when I was shopping for a new home.

Listing Your Home With Real Estate Agent

Not all listing real estate agents do open houses for their listings.

  • However, many realtors do open houses and open houses is part of their marketing plans
  • Prior to signing a listing agreement with a realtor, find out what the realtor think of open houses
  • Ask listing agent if they do open houses for their listings
  • Find out what their strategies are
  • Some realtors do open houses just once while others will do them once a month
  • Open houses do require a lot of work
  • Listing realtor that implements open houses for their listings says a lot
  • Realtors who do open houses are real estate professionals who take their jobs seriously and not ones who just lists their listings hoping someone will just call in and hopefully get a sale

There are countless of Benefits Of Open Houses for home buyers and sellers. Open houses are strongly recommended and statistics prove that homes that do open houses sell much faster due to exposure.          

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