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    Best Practices For Hosting An Open House

    2 years 9 months ago I 0 minutes read I 81 Views

    Rachael Harper
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">There&rsquo;s a notion that hosting an open house is no longer an effective way to sell properties. And that&rsquo;s true.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">According to the National Association of Realtors, just <a href="https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics">7 percent of buyers</a> found the home they bought by visiting an open house.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">To put things in perspective, 93 percent of buyers rely on websites to find their future homes. What&rsquo;s more, a whopping 52 percent found the home that they eventually purchased on the internet.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Indeed, these numbers suggest that hosting an open house is now a thing of the past. Be that as it may, it doesn&rsquo;t tell the entire story.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Here&rsquo;s why.</span></p>
    <h2><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">Why You Should Still Have an Open House Today</span></h2>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Here are three reasons why hosting an open house remains a good idea in this digital age.</span></p>
    <h3 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">Increased Initial Visibility</span></h3>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">The most important reason to have an open house is to boost initial visibility.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">An open house provides an opportunity to bring more people to your property. Furthermore, the heavier </span><span style="font-family: verdana, geneva, sans-serif;">the traffic, the higher your chance of finding serious buyers who&rsquo;ll schedule a showing later.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Besides, there are always individuals that want more than photos on a website. These are people that want </span><span style="font-family: verdana, geneva, sans-serif;">to get a feel of the home they want to purchase.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">An open house is perfect for these people.</span></p>
    <h3 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">Provides a Relaxing Environment</span></h3>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Yes, an open house creates a relaxing environment for potential buyers.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">It&rsquo;s not uncommon for buyers to be on the fence about a home purchase. Indeed, several individuals often </span><span style="font-family: verdana, geneva, sans-serif;">wonder whether to make an <a href="https://yourdealty.com/buy/homes/Phoenix,%20AZ,%20USA">offer on a property</a>.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">One quick way to address this issue is to provide a chance for buyers to see the property without setting </span><span style="font-family: verdana, geneva, sans-serif;">up an appointment. That way, they can gauge interest before moving forward.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Well, an open house provides such a relaxing environment.</span></p>
    <h3 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">Meet Prospective Buyers</span></h3>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Another exciting thing about open houses is that it helps you meet prospects.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">As said earlier, an open house attracts several prospective buyers to your house. While only one buyer </span><span style="font-family: verdana, geneva, sans-serif;">will end up buying the home, you would have built more relationships.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">That means you&rsquo;ll meet prospects that&rsquo;ll become buyers down the line.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Now that we&rsquo;ve explored the importance of hosting an open house, there&rsquo;s just one question. How?</span></p>
    <h2 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">Five Best Practices for Hosting an Open House</span></h2>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Here are some things to consider if you&rsquo;re considering an open house.</span></p>
    <h3 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">1. Publicize the Open House</span></h3>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Getting potential buyers into an open house is challenging for anyone, including the best <a href="https://yourdealty.com/dashboard/resources">real estate </a></span><span style="font-family: verdana, geneva, sans-serif;"><a href="https://yourdealty.com/dashboard/resources">agents</a>. That&rsquo;s why it&rsquo;s essential to spread the word about the event.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">One quick way to do that is to tell your <a href="https://www.facebook.com/">friends</a> and colleagues that your house is on the market.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">However, you could take things a step further by leveraging the internet. That&rsquo;s right &mdash; you could </span><span style="font-family: verdana, geneva, sans-serif;">publicize your open house event on Facebook, <a href="https://twitter.com/">Twitter</a>, and <a href="https://www.instagram.com/">Instagram</a>.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Other ways to publicize your event include:</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Creating a website to promote your house</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Posting a video tour on <a href="https://www.youtube.com/">YouTube</a></span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Listing your home on <a href="https://www.mlslistings.com/">MLS</a> sites</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Advertising your property on <a href="https://www.craigslist.org">Craigslist</a></span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Listing your home on <a href="https://fsbo.com/">FSBO</a> sites</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Finally, consider placing a printed &ldquo;For Sale&rdquo; sign and a flyer holder at the front of your yard. That way, </span><span style="font-family: verdana, geneva, sans-serif;">passersby will know that the property is on the market.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;"><img src="//s3-us-east-2.amazonaws.com/dealty-prod/uploads/files/000/254/181/original/For_Sale.jpg?1632413091" alt="" width="640" height="397" /></span></p>
    <h3 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">2. Stage Your Property</span></h3>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">At this point, you&rsquo;ve spread the word about the open house you&rsquo;re hosting. Now, it's time to stage your </span><span style="font-family: verdana, geneva, sans-serif;">home for the event.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">The term &ldquo;staging&rdquo; describes the process of preparing your home for sale. That involves removing your </span><span style="font-family: verdana, geneva, sans-serif;">taste from your home d&eacute;cor. But how effective is staging?</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">According to the National Association of Realtors, <a href="https://www.nar.realtor/research-and-statistics/research-reports/profile-of-home-staging">46 percent of agents</a> believe that staging a home </span><span style="font-family: verdana, geneva, sans-serif;">increases its value by 1 to 5 percent. What&rsquo;s more, 53 percent of agents believe that staging reduces the </span><span style="font-family: verdana, geneva, sans-serif;">amount of time that a property spends on the market.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">So, consider decluttering and depersonalizing to make your home appear as neutral as possible. Remove </span><span style="font-family: verdana, geneva, sans-serif;">your photos and get rid of your accent chairs.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">It&rsquo;s also a good idea to make necessary repairs and keep your home clean.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;"><img src="//s3-us-east-2.amazonaws.com/dealty-prod/uploads/files/000/254/182/original/Staging.jpg?1632413378" alt="" width="640" height="427" /></span></p>
    <h3 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">3. Don&rsquo;t Forget the Paperwork</span></h3>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">As in any business transaction, <a href="https://yourdealty.com/seller/add-new-property">selling a house</a> involves tons of paperwork.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Besides printing colored flyers, you also need documents &mdash; brochures and pamphlets &mdash; that show </span><span style="font-family: verdana, geneva, sans-serif;">financing options. With that, potential buyers can quickly determine whether they can afford the monthly </span><span style="font-family: verdana, geneva, sans-serif;">mortgage payments.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Here are other vital documents for hosting an open house:</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Preliminary title report</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Mandatory disclosure</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Pre-inspection report</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Transfer disclosure statement</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Natural hazards report</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Other documents that you may want to prepare between contract and close include the home inspection </span><span style="font-family: verdana, geneva, sans-serif;">report and appraisal report.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;"><img src="//s3-us-east-2.amazonaws.com/dealty-prod/uploads/files/000/254/183/original/Paperwork.jpg?1632413550" alt="" width="640" height="427" /></span></p>
    <h3 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">4. Be a Gracious Host</span></h3>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Getting potential buyers into your open house is the first step. The next step involves playing the role of a </span><span style="font-family: verdana, geneva, sans-serif;">gracious host to your prospects.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">In most cases, hanging around an open house would turn off a buyer. However, that&rsquo;s rarely the case when </span><span style="font-family: verdana, geneva, sans-serif;">you&rsquo;re an FSBO. Indeed, buyers expect to work directly with you while exploring on their own.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Here are some essentials of being a gracious host:</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Greet your guest with a smile</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Offer a sign-in sheet</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Provide refreshments such as cookies</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">● Answer all possible question</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">It&rsquo;s best to get feedback from guests before they leave your home. From their level of interest to how the </span><span style="font-family: verdana, geneva, sans-serif;">price compares to other listings, these insights can help you make better decisions.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;"><strong>Note:</strong> It&rsquo;s best to hide all personal items, medications, and valuables. You may also want to consider </span><span style="font-family: verdana, geneva, sans-serif;">leaving your pets at a friend&rsquo;s place for the day.</span></p>
    <h3 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">5. Follow-Up After the Open House</span></h3>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Consider following up with the prospects who attended your open house.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">For example, you could send a &ldquo;Thank You&rdquo; note with a link to your MLS or FSBO site within a day of </span><span style="font-family: verdana, geneva, sans-serif;">the event. However, it&rsquo;s best to call all the buyers within a week of the open house event.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">That way, you can ask any questions about their interest in your property. You can also find out ways to </span><span style="font-family: verdana, geneva, sans-serif;">make your property more attractive to buyers.</span></p>
    <h2 style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif; font-size: 14pt;">Wrapping Up: When Hosting an Open House is a Bad Idea</span></h2>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">There&rsquo;s no denying that an open house can create the necessary market exposure for your listing. It also </span><span style="font-family: verdana, geneva, sans-serif;">provides the chance to get buyer leads.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Yet, open house events are not suitable for every property.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">For instance, hosting an open house is a bad idea when the homes in the neighborhood look the same. You </span><span style="font-family: verdana, geneva, sans-serif;">may also want to avoid an open house event when the weather discourages it.</span></p>
    <p style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Other conditions such situations include a smelly or messy home, cramped property, or homes that are too </span><span style="font-family: verdana, geneva, sans-serif;">hard to find. Finally, it&rsquo;s best to avoid an open house event when your realtor advises against it.</span></p>
    <p style="text-align: justify;">&nbsp;</p>
    <p style="text-align: justify;"><strong><span style="font-family: verdana, geneva, sans-serif;">About the Author:</span></strong></p>
    <p class="MsoNormal" style="text-align: justify;"><span style="font-family: verdana, geneva, sans-serif;">Rachael Maisen is an Outreach Executive of <a href="https://www.webuycaliforniahousesforcash.com/">WeBuyCaliforniaHousesForCash</a>, a platform where investors help homeowners. She guest blogs. Her blogs are so fun and easy to read.</span></p>
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    Rachael Harper

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