Open Houses in Utah: Generating Success
Are Open Houses Worth It?
As time has progressed, so have real estate marketing techniques. We live in the age of technology and it’s present in every aspect of our lives. The internet allows people access to a surplus of information, including real estate listings. Many people believe this has caused hosting an open house a pointless endeavor but, to the contrary, open houses still greatly benefit both sellers and buyers.
Why Hold an Open House?
When done correctly, open houses can generate the kind of publicity you want when selling your home. It’s a fantastic networking tool, particularly in more expensive communities. A 2017 NAR study estimates that 8% of all home sales are perpetuated by open houses and yard signs. So why is there such a stigma against holding an open house in the modern real estate industry? Well, many agents don’t know how to successfully incorporate the internet when advertising. Lack of presence online and no media networking can be detrimental to the success of an open house.
How Should I Advertise?
Incorporate all of the basic elements of an open house. Print marketing such as signs on busy intersections, balloons, and flyers can still assemble more potential buyers, but they aren’t the most important part.
One of the mistakes commonly made when advertising for an open house is the agent will market themselves instead of the seller’s home. If an agent is plastering his or her face all over the signs, postcards, or flyers for the open house there’s a good chance they are only using the open house to gain more clients.
Market to a target audience. This will not only increase the visitors at the open house, but will also bring in those actually interested in purchasing. Getting the right patrons to the home is a matter of communication and networking, reaching out to specific people. Knowing your buyer demographics will allow you to focus marketing efforts to the right people.
Your target audience needs to be personalized as much as possible. Know who will want to attend your open house, and get them there. Send emails to your email database, you’ve already established a connection with those individuals. Invite neighbors and others who may be interested in looking at the property. Find out which regions to market heavily to based on income statistics, be observant.
Be unique in your marketing strategies. When’s the last time you received a postcard? Probably not recently, but if you did receive one, you’d certainly take notice. Handwritten invitations are far more appealing than a generic flyer placed in a mailbox or on a door. Using creative mediums for advertising will typically generate more interest!
How do I Make my Open House Successful?
Outside of advertising there are a multitude of things to do to make your house as appealing as possible. Here are 3 tips to make sure your open house is superb!
The property must be clean and inviting; curb appeal is crucial for an open house. Much like photography, the curb appeal is the buyer’s first look at a home. The outside should be well-kept, no overgrown weeds or cobwebs on the porch. The inside should look as though it were ready to move in to. Open blinds and shutters to let in light! Put away your family photos! Professional Staging can also make the home more appealing to the prospective buyers!
Everybody loves food, especially free food! Use refreshments and soft music to draw people in and keep them there with the quality of the open house!
Be informative! Knowing the history of the property can be a great networking tool. Be prepared with answers to questions that have yet to be asked, know what work has been done to the home already. Have all documents and advertising materials pertaining to the home readily available in case someone is interested!
What if my Home Doesn’t Sell?
A successful open house does not necessarily mean that your home sells immediately following the showing. In fact, it may take weeks for you to see the benefits of hosting an open house. What constitutes whether the venture was successful or not revolves around the amount of views the property got as well as the amount of interest people have in it thereafter. Getting feedback from buyers can also aid you in making the property more appealing. Remember only 8% of homes are sold because of open houses; don’t get discouraged if this method doesn’t work for your home. There are plenty of other options to promote your listing with! Join our email list today for more helpful hints!
Do you have questions about Open Houses? Let us know. We love helping people out.