Re-inventing the Open House
According to the latest National Association of Realtors buyer profile, 48% of all home buyers go to open houses. However, when asked where they learned about the home they purchased, `open house’ did not even show up. Statistically speaking, open houses don’t sell homes. Your own experience probably bears this out, so you might conclude that open houses are a waste of time, since people visiting an open house end up buying something else.
But stop and think for a moment. First of all, many homeowners like to have their home held open. They may even expect it. Second, if almost half of all home buyers are visiting open houses, but not buying the homes they visit, what are they buying?
Cross-Pollinating
Buyers are always playing a game of elimination-even more so in a buyer’s market. They have so many houses to choose from, they are trying to narrow down their selections. Often, going to an open house is a way for a buyer to get a feel for what they do and don’t like. Therefore, when you hold an open house, don’t think about how to sell the house, think about how to help the customers find what they want. Also think about how you could establish trust and rapport without being pushy.
One great way to do this is to hold two or even three open houses back-to-back (or simultaneously, if you have a team.)
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