Mi Casa es Su Casa
The literal translation of this is my house is your house, a greeting to guests similar to make yourself at home. So what about an Open House?
When you’re selling a house, this is the exact feeling you want to lend to potential buyers-make yourself at home.
When we work with someone to help them sell their house, we talk about creating this feeling during the process of marketing their house.
Of course, one of the major items we discuss is the mystical Open House.
Some people are all for it and others completely against. But more often than not, the question is: what is the actual benefit?
So let’s talk about an open house!
Who benefits? There is an old adage that the real benefactor of the open house is the Realtor®. Like any saying, there is some truth to that. Realtors® need to meet new people to stay in business and be relevant. And what better way to meet potential clients than at an open house, where people who are obviously interested in real estate come to the Realtor®. However, in today’s economy where consumers are more savvy than ever, and where online research is at an all-time high, it’s important to understand the new dynamics. Often people want to do their own investigation before involving their Realtor®. Open houses are a great venue for that.
So do they work then? We meet a lot of people at open houses who are checking out the house that piqued their interest online, to see if they should short list it for their Realtor®. We are seeing a growing trend of buyers who want to feel firsthand what the house is like, without involving their Realtor®. Then they come back for a second viewing of the ones they like with their agent, to truly discuss the merits. So, yes open houses can work to increase the chances of a sale.
Of course, then let’s have an open house every day! Whoa. Open houses need to be strategic and part of a plan. There are some risks with an open house too. Your agent will be there (or an agent from their office) but people coming through will have free access to rooms out of view of the Realtor®. Unlike a single showing, people are not vetted out and there is an element of the unknown. Store valuables out of sight, and relocate pets from the property.
Please note: Realtors® take precautions and safety training on open houses. If you are selling on your own, be sure you take the same safety precautions.
Oh my! Then no! No open houses for me. Don’t be too hasty. As I mentioned, open houses can and should be a strategic part of a marketing plan. It may not be for every listing or every seller. And, if a seller is really uncomfortable with this part of the process, then maybe it is best to forgo them. However, there are other options such as professional caravans, etc. than can be added in place of an open house.
So, the more people that can come through the house and be exposed to the feel firsthand, the better.
Sometimes you can achieve this with typical agent-booked viewings. Sometimes it cannot. Talk with your Realtor® to develop a plan that will bring in the most potential buyers.
And, make your house, their home.
Mi casa es su casa!