Do Open Houses Really Sell Homes?

    Real Estate For Sale SignHaving an open house isn’t the easiest thing in the world. That goes for the homeowners and the real estate agent. There’s cleaning to do, clutter to hide, balloons to put up – never mind the actual day-of headache that’s involved. So when it comes down to it, do open houses really sell homes?

    The annoying answer is: yes and no.

    Yes, open houses can sell homes, but only if you have all the right pieces in place.

     

    Have an open house in the spring time.

    Winter means hibernation mode. No one likes to move in the heat of the summer. That makes springtime the best time to sell a house. More people are stretching their legs and looking to buy.

     

    Have it on a Sunday.

    Weekdays are workdays. Saturdays are jam packed. Sundays are perfect. It’s a more relaxed and casual day where people can load up the car and take a tour of their potential new neighborhood. Just be sure to avoid big Sundays (ehem Super Bowl).

     

    Have it quickly!

    It’s also best to only have an open house when you’ve JUST listed your home online. Typically, only the less desirable homes are still on the market a week after they are posted online. This means that your open house is less powerful.

     

    Have it well advertised.

    This is something you need to discuss with your real estate agent. How much advertising will be done for the open house? In order for open houses to be effective, they have to be sufficiently advertised. This goes for both online and with yard signs at major intersections as well as in front of the house.

    If you’ve got these four components down, then you’re in pretty good shape for your open house. However, there are a few other things you want to consider.

    For instance, are you comfortable with strangers in your home? Sure, selling a house means you have to invite people in but do you really want to allow endless amounts of strangers in? Especially considering the fact that a good portion of them are just being nosey?

    Finally, keep in mind that the biggest advantage of an open house is for your real estate agent, something most every agent will deny. Real estate agents tend to talk up open houses so you believe they are necessary. The truth is, unless the cards are lined up perfectly, chances are a buyer isn’t going to swing by your house on a Sunday, realize it’s perfect, and make an offer on the spot.

    So while you should keep an open mind about open houses, don’t feel so bad if you’ve decided you’re not about it.

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    Josh Mente

    Real Estate Leader Josh Mente, is a founding member and owner of The MD Home Team of Keller Williams Excellence, and is responsible for business administration and marketing for the firm. Josh’s career path began in 1998 as a loan officer for Eastern Savings Bank, where he managed national accounts. He later joined Option One Mortgage originating more than 500 transactions per year valued at $100M+ in sales. In 2006, Mente shifted his expertise to real estate sales, gained his license and focused on buy/fix/sell transactions. Josh is a member of Elite Real Estate Network (ERN), the 2009 Rookie of the Year for Long and Foster corporate, and in 2012 ranked 206 and 2013 ranked 234 in Real Trends of the Wall Street Journal, ranking in the top 250 agents nationwide for all brokerages. From any early age, Josh was introverted and worked hard to overcome a fears of sales - a business that doesn't lend itself well to introverted people. When challenged by a manager that he didn’t have what it took for a specific job, Josh pushed forward and won approval in his new position. That was a pivotal moment that set the pace for his success in real estate sales. Having earned an AA degree from Montgomery College in business administration in 1995 and a Bachelors of Arts Degree from Towson University in Mass Communications 1997, Josh married his college sweetheart Melinda and they now have three wonderful daughters that provide the opportunity to watch them grow up and experience things for the first time. A committed sports fanatic, Josh spends time on the golf course, and follows the Ravens and Orioles as a season ticket holder. He is a part owner of two restaurants in Manhattan, enjoys music and time away with the family at their beach house in Rehoboth, DE. He hopes to find time for his hobbies that include building furniture, playing guitar, learning Spanish and flying planes.

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