Why The Ayers Team doesn't promote the traditional Open House
There are quite a few reasons we don't promote the "traditional" open houses. With the proliferation of everything internet-related, a Seller's home can be seen 24/7 online. Let's hit the "wayback machine" and go "pre-internet"! Let's say 1980's...
Buyer's COULDN'T search online for homes (there was no "online"!)
- Buyers walked into a real estate office to flip thru physical books of listings (literally a 3-ring binder of MLS sheets).
- Agents used the MLS to "cooperate" with other agents to advertise listings between companies. The MLS system was accessible by Realtors of different firms and was used to facilitate sharing of listing data. It was a simple local database.
- Agents used Open Houses to showcase a home to Buyers since one could not "see" the inside of a home unless you physically visited it. Listing agents were also able to use an Open House as: a) self-promotion, b) to snag un-represented buyers, and c) actually market the home.
Even today, I firmly believe the Open House is for the AGENT, not the SELLER. The signs promote the agent, the open house check-in sheet is used by the agent to get NEW BUYER CLIENTS....it is marketing for the AGENT. Your agent may not tell you that....I will :-)
TIMES HAVE CHANGED!
I am not even talking 10 years! I am talking in the last 3-5 years! When we get a new listing, it is marketed EVERYWHERE online.
1) We post 35-50+ pictures of the home using HD quality wide-angle lenses.
2) We use video in most listings.
3) We create virtual tours of the home.
4) We create "single property websites" of the home.
5) Add in "listing syndication" and our Seller's homes can literally be on hundreds, if not thousands, of large portal sites (ie Realtor.com, Zillow, Trulia, HGTV), real estate company sites (ie Coldwell Banker, Keller Williams, ReMax, Weichart, etc) and individual agent sites.
6) Now add in the Social Media aspect (blogs, Facebook, Google+, Twitter, YouTube, The Patch online newspaper, etc) and our Seller's homes are EVERYWHERE online.
7) 92% of Buyers used the Internet to search for homes in 2013.
Still don't take my word for it? Just this year (2014), the National Assocation of Realtors (NAR) has CANCELLED the "National Open House Weekend". This was a large event that was promoted across the nation to support the open house movement. “They just felt that the event had run its course,” said NAR spokeswoman Sara Wiskerchen.
I REALLY like this article that was written on TheBalance.com. It really makes a lot of sense and reiterates what I stated above.
It essentially says:
1) The proliferation of Internet listings and other online real estate information is quickly making open houses more of an option.
2) Sellers...are worried about letting complete strangers roam freely through their house, with access to electronics, jewelry, prescription drugs and personal information.
3) Sellers...don't want their neighbors and a host of other so-called "looky-loos" wasting their time just for a look at their décor.
Real life case in point, there was a large "open house tour" in my own subdivision this summer.
Guess which house received an Offer?
The one that WASN'T even an Open House! Why? It was priced right, staged beautifully, marketed well and the Buyer (who was working with an agent) saw it online and ended up loving the home and the subdivision once they looked at the various homes in the subdivision.
A home will sell based on 4 points: PRICE, CONDITION, LOCATION, and COMPETITION. Some of those items the Seller has control over and others they don't. So, Mr. & Mrs. Seller, price your home well, keep it is great condition, and keep an eye on what your competition is doing. Unless you are a mobile home, there isn't much you can do about your location :-). Just present your home in its best light and make it easy for your Realtor to do the same!
We still want to market our clients homes. We just want to do it in a fashion that is appropriate for the times.
The Ayers Team is actually in the process of rolling out the "24/7 Open House". We want to utilize the best of today's technology to enhance our Seller's homes online to drive as much traffic as possible to those homes.