The question of whether home opens are effective has long been an issue of debate between real estate agents.
While some advocate home opens, others have little regard for them preferring instead to arrange private viewings by appointment only.
What are the reasons ‘for’ and ‘against’?
When it comes to selling your home, it’s likely your selling agent will want to hold a home open as part of their marketing plan.
Holding a home open is a strategy that opens your home to a wider audience and invites the interest of buyers who may not have phoned for a private inspection otherwise.
Two common reasons agents list for not holding home opens is because of the potential security risk they pose, and because they tend to draw in curious lookers as opposed to serious buyers.
Exposure and feedback
Something that all agents agree on is that maximising exposure is the key to selling property.
This is where home opens can be effective as part of an overall strategy to widen market exposure.
Home opens are also excellent for eliciting quick feedback from buyers. If asked, most people will give their honest opinion of the home, its appeal and the asking price.
This can be a good barometer for understanding buyer sentiment, expectations and interest in the property. It can also help your agent tailor their marketing strategy.
Before formally listing your property, have a discussion with your REIWA agent about the pros and cons of home opens and whether it should factor into your marketing strategy.
Article by: Communications from REIWA