An In-Depth Look into Open Houses & Office Tours
It is important to remember that a real estate agent is trained to use marketing and advertising tools, in order to promote themselves. Did you know that it is very rare for an open house to sell a home? In fact, many experienced Realtors know this, therefore refusing to promote an Open house as one of their services.
There are several real estate agents that will use an Open house as a marketing tool, in order to promote themselves instead of your home. According to real estate industry statistics, only one out of one-hundred homes sell as a result of an Open house. If your real estate agent suggests having an Open house, you may want to rethink the proposal.
Many home sellers wonder why Open houses are held, if this is an ineffective way to sell a house. Open houses are an effective way for a real estate agent to generate leads for him or herself. An open house gives a real estate agent access to new potential clients. A successful, reputable real estate agent will not hold an open house; instead they will leave this up to their assistant or a new agent. Plus most people that come to an Open house are there to check out their competition. Many open house visitors are looking to sell their own home.
A Closer Look into Home Tours
What is a real estate tour? This is where a horde of real estate agents and brokers tour several different properties, on the same day. A home seller might want to question why all of these real estate agents have time to tour a handful of homes. Did you know that most real estate firms will have their Realtors participate in a house tour, one week before they place the “homes in question” in their listing?
There is a reason that so many real estate firms participate in home tours. One of the main reasons is that this is a great way for a real estate firm to recruit new agents and to socialize with other agents. A title or a loan company participates in home tours as a way to generate new business. A home tour can be considered one big networking event for professionals in the real estate industry. A real estate agent would not participate in a home tour if it was not a requirement of the firm they are employed with. A home tour does not help you sell your home in any way.
Remember the truth about open houses, home tours and direct mailings. Do not be fooled by these three things that promise the world and seldom deliver results.