Why do Agents Open House?
So, mostly we hear all the negatives….’bait and switch’, ‘open houses are just done for our neighbours to come through’, ‘I don’t want an open house on my house as it is an invasion of privacy’. Ok, all thoughts, however, there are so many other reasons to agree to an open house.
First and foremost, to market your home to the buying public who may only have the weekend as an option to get through. Everyone wants the Toronto buyer to come with that elusive bag of cash and that buyer likely works in Toronto and after a long day, the last thing they want to do is drive to go look at houses at night. An open house really gives them the chance to plan their route, and walk through several homes at their leisure.
Second, the Toronto rep…most realtors work on the weekends and since all Ontario reps are now mostly having to learn different areas as prices rise in their chosen market area, they are being pulled in 20 different directions on the weekend. It is not that they don’t want to waste their time driving out to show, it is that they have several clients and if they are showing in their own neck of the woods, driving an hour both ways is not an effective use of time.
Thirdly, your own sales rep. This is a great chance for your representative to watch how prospective buyers visit your home. It helps to shift marketing streams. It helps to notice those little details that matter to a buyer and just really experience the home for a longer period of time, without you there. Why is that important? If you think of how often we are in your home, it often is not a long duration just being present in your space. Every other time, we are talking to you, assessing things, advising on traffic flow, staging, and all sorts of other stuff. Being in your home for two hours is helpful to us. But, it also is helpful to expose your home to a lot of people in two short hours. That is why the days after an open house are important as many times, you will start to see the residual impact of those two hours in increased showings booked.
Last Sunday’s open house for us has produced 4 additional showings and is bringing in an offer. So for those who challenge us by telling us their thoughts on how open houses don’t work, I know the flip side. They do, they have and we will continue to offer them to our willing sellers.