Steve Koerber's Old Blog

Remuera's house sold name since 1998 – 021864166

Posts Tagged ‘viewing by appointment’

What do open homes achieve?

Posted by Steve Koerber on November 15, 2007

When selling your home, open homes are usually par for the course.  But do you have to have them, and what are the implications if you don’t?

At the time of writing this in November 2007 I had a close look at my previous 44 sales.  Of the 44 houses only 11 (or exactly 25%) sold to people who came to an open home.  Of the 11 buyers that bought their home after seeing it at an open home, about 8 of those would probably have rung for an appointment to view if an open home had not been scheduled.  For them the open home was a convenient way to inspect a home they intended to view anyway.  No houses sold to buyers who were attracted by an open home pointer sign.

What does all this mean about the effectiveness of open homes?  It shows that:

a.  75% of homes sell to buyers who are escorted to homes by salespeople

b.  75% of real buyers (people who make a purchase) would prefer to make an appointment rather than attend an open home

c.  Open homes attract more lookers than real buyers.  Lookers include neighbours doing research, ex-owners, potential sellers doing comparisons, people deciding whether they should buy, people checking what their money buys, buyers’ relatives, potential sellers testing the listing salesperson for effectiveness, people who enjoy looking at houses.

d.  Advertising “viewing by appointment only” is inconvenient for lookers.  For real buyers however, it appears that most would prefer to view by appointment.  Salespeople who wish to build their client base of potential buyers and sellers benefit most from open homes.

Are open homes right for you?  When your home is fresh on the market it will attract the greatest number of lookers and real buyers.  Numbers always dwindle as the weeks go by.  If your home is likely to be popular you should seriously consider open homes.  But you should only continue to do them while your home remains popular.  If visitor numbers per open home fall below five I would suggest that viewing by appointment is the way to go.  If you are intensely private and opt for “viewing by appointment” from day one on the market you probably won’t miss your buyer.  you’ll just make your salesperson travel to and from your home a bit more.

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