The Pro’s and Con’s of using Open House Marketing

Making the choice to sell your home is a huge decision. Most sell to upgrade or downsize due to family size.Once you have made the decision to place your luxury home on the market, the real fun begins, getting the house in the perfect shape.

So begins the cleaning, grooming, and perhaps some remodeling. Staging takes place, creating the perfect environment for those looking to buy a luxury home.

Marketing tools

With all the marketing tools available to real estate agents, selling a home has become more visual selling via the internet.The internet has exploded with so many available tools to market homes, and especially the beautiful luxury homes many dreams of owning.

What about the way things once were before the internet? Remember the days where going to an open house was the only form of viewing houses on the market? While some agents still use this form of marketing, others frown upon it. Some feel the open invitation enhances exposure, increasing the chances of making a solid sale of the home.

Agents that have had less success through the open house tactic feel the cons are much higher than the pros. Others that have accomplished sales or picked up new clients claim all the hassle is more than worth the challenge. While receiving the exposure may show an increase in potential buyers, there are several other things to consider that may help you decide on open house type marketing avenue.

Pros

Maintaining the Picture Perfect Home

Getting a luxury type home in a show-ready appearance can be a hard task. Homes of such value, shoppers expect perfection. Keeping the home in tip-top shape seven days a week can be overwhelming. Those with children or pets will spend every moment cleaning, which can be more than what most sellers are time equipped to handle.

An open house usually lasts just a few hours in one or two days. These often lead to holding private viewings that result in much less preparation time. The constant staging and preparation of a luxury home can become an expensive journey. Hosting a few open showcases will limit the stress and burden.

Planning schedules visits take the pressure away from the day in and out struggling to keep the home immaculate.

Getting to view in real time

There is no better way to shop for something than in real time. No matter what we find on the internet, seeing in person ranks higher. People may use the internet as the opening tool to find luxury homes they show interest in. Most people will not make any type decision of a major buyer, such as a home of these values over the internet.

Most agents will have a listing on their website of their open houses available. Also, agents may have clients looking for a certain type home. These clients can browse the ones available online while saving both parties time.

Exploring the homes offering an open house, the potential buyer can view the house on their own terms. Most buyers want to take their time to look at all the details while not feeling rushed. Open house marketing is a leisurely, no pressure approach for buyers to make their choices on whether to pursue a contract to buy.

Casual interest

Open house attracts many people. Not all that take a tour of the house open for visiting had an interest in buying at home at the moment. There are those that had no desire to use an agent in the search for their luxury home, yet, have a change of heart after meeting the agent.

There are times that when a visitor had no intention at the time of buying ends up making an offer on a home after taking a tour of the home.

Gaining feedback for growth

There is nothing quite like getting one on one communication as far as what works and doesn’t work. Having traffic flow for an open house gives both the seller and buyer the chance to voice their wants and needs.Open house marketing also allows the agent knowledge of how well their strategies are working.

Gaining feedback from customers in real time allows the agent to make connections on a personal basis.Communication between buyer and seller could bring unexpected offers with discussions of adjustments to:

  • Price negotiations
  • Agreeing to contract options
  • Repairs needed
  • Compromising stipulations

Cons

Open House Junkies

Of course, there are concerns about those that spend days just going from one open house to the next just to be nosy. There are people that love to go to these luxury homes just to say they were in the home at one time and to see the beauty of the home.

These are the type people that make presenting an open house challenging. Many of these house hoppers pop in, look around and leave. The bright side of this is that maybe they will tell another about the property that is in the market for a luxury home.

Concerns of theft

No one likes the idea of strangers roaming through their personal space, no matter what the circumstances are. When people are free to look and browse in luxury homes, they have a lot of expensive items at their fingertips.
Staging in these homes leaves the opportunity for theft to occur.

There are people that are professional thieves that know just how to pull off massive robbery’s.Locking up all your valuables is the best way to prevent this. There are some that remove all valuables from the property making theft impossible.

New era new technology

With modern technology, many agents feel no need to have open houses when the same dynamic can show success online. Virtual tour links on agent websites are a great tool to attract potential clients, but most still have a need to see things in real time. If you want serious buyers, allowing for an open view and a tour of the home will attract those interested.

Potential of damaged property

Anytime there is traffic in the home there stands the possibility of something getting broken or damaged. Doesn’t matter if its friends or strangers, people have a tendency of wanting to touch and handle items. Those that are selling their luxury home have a tendency of making sure the home decor is as luxurious as the home itself.

It would be a fair assumption that strangers roaming through a home will become a bit too cozy. Floors will become tracked with dirt and grime as well as furniture. Glass, broken or a treasured souvenir shattered is a nightmare most do not want to face. The best way to prevent these things are to put them away.

Asking the guest to remove all shoes before entering is a way to salvage the floors throughout the home. Decorating with unbreakable items will create less chance for broken glass.

The final decision being up to the seller on how they would like an agent to present their luxury home. There are pros and cons to offering an open house. Your agent will help you decide the best option for every homeowner.