Why do an Open Home?
This may seem like a simple question to many people. But, you may be tossing up the benefits of conducting an open home and want to know, why do an open home?
Although a simplistic question, it is important to address the reasons for and benefits of an open home.
In our opinion, to begin the answer to ‘why do an open home’.
Yes, yes, yes, you should conduct an open home.
After years and years of experience in the home selling market, this is always the best option. I have seen properties come and go. By far and beyond, those that conduct open homes sell better. That being said, to actually see this effect they have to be well-coordinated open homes.
So, what are the reasons for doing an open home?
Why do an open home at all?
The absolute core of any open home is to gain exposure. You need this at the back of your mind when you are conducting every aspect of the inspection. You wan people to see your property.
This means, you want to make it super accessible. You want to make it inviting, warm and easy to explore. You want to have noticeable advertising and you want to ensure it is authentic.
Follow our guides on setting up your open home to help you avoid cliches and really target your buyers. Our articles on common home presentation mistakes to avoid and tips to make your Canberra home stand out should help greatly.
2. Targeted vs Untargeted Traffic
This is an important factor in the exposure category of open homes. You may be thinking to yourself “can’t I just get exposure online?” Yes, you can indeed.
However, open home exposure is a far more directed, targeted and specific form of exposure. You will get two types of people at open homes. Those who see the advertising off the street and walk in and those who saw the property elsewhere and decided to come have a look. These are two excellent types of traffic.
The first are locale targeted. Geographically, these people will be looking for property in that area (or just pesky neighbours trying to get a sneak peek). The second group are those who have become interested due to any other form of exposure. These people are also great as you are coming in direct contact with people interested. Hence, you are scoping the buying landscape and getting an education on those people.
This helps you to target your audience better and have a far clearer understanding of how the sale is progressing. This leads into our next reason to do an open home.
3. Touch over Sight
An open home is the progression of a buyer from sight to touch. They have been intrigued enough by a signpost, online listing or some other means to go and actually be in the property. This is known as qualifying a buyer. Every hoop a potential buyer is willing to jump through is a reinforcement of their willingness to pursue the property.
If someone wants to progress to the stage of actually being in the property, touching the property and getting up close and personal then you have qualified them further.
On the flipside of this. Open homes are crucial to give potential buyers an opportunity to further pursue their curiosity. There are likely interested people for your property. An open home allows them the chance to become more interested by scoping it out in more detail.
This is why you need more than just an open home, you need a great open home.
The most common drawback for people from doing an open home is fear. Fear that their property won’t live up to the standards of buyers. Potentially fear that the online listings are hiding some of the flaws in a property.
Here is my advice. Every single property has flaws, but you can’t hide them. At some point in the process these flaws will show through. So, be authentic. Don’t try and hide them, fix those problems and make your home one that is super desirable.
Authenticity is the true key to any successful property sale.
Hopefully, this helps to answer your question of why do an open home? If not, please take a read of our guide on how to sell a house in Canberra, it will give a full overview on the selling process.