For real estate agents, open houses serve a very useful purpose. When done correctly, an open house allows agents to gauge customer interest and acquire insight to the market the house they are trying to sell is on. A successful open house can make or break any deal.
One of the keys to success for any open house is attendance. After all, an absence of foot traffic means an absence of eyes on your property. This is why scheduling an open house is just as important as the plate of cookies would-be buyers see when they enter the home for sale.
Nowadays, there are plenty of tools, like showingsuite, that are able to help schedule open houses for any realtor. This helps agents pinpoint the perfect date for an open house. But how does one decide when to do it? Don’t fret. Here are some tips to help you decide the perfect day for an open house.
Mark Your Weekend Calendars
Open houses are at their fullest in terms of attendance when you schedule them on a weekend. People have more free time on the weekends and pay your property a visit. But marking down the first Saturday or Sunday on the calendar isn’t the only secret to success. Weekend mornings are usually reserved for family activities like kids’ sporting events or church. This is why most agents would advise scheduling an open house towards the afternoon.
It’s also worth noting that other local events may affect your open house attendance. Keep in mind events like sportsdays, festivals, or holidays since these can make or break your open house. You can use the large numbers that these events attract to your advantage by catering to a local sports team or event. These can bring in a heavy amount of foot traffic, which can translate to a sale in turn.
Time Equals Money
It is important to hold your open house as soon as your property hits the market. Sitting on a property longer than needed may cause interest to wane and people to stop noticing. On the other hand, launching an open house as soon as your property is up for sale allows you to drum up interest. Potential buyers tend to notice newer homes and pass on properties that have been sitting for awhile.
The length of time your open house takes is also worth considering. Schedule your open house on a weekend afternoon and keep the hours short. This allows a crowd to build up faster, which can build up a lot of buzz as a result. This attracts potential buyers and may even influence their decision when the time to talk price comes.
When scheduling your open house, it is also important to consider the weather for your area. Hold open houses in the appropriate climate and be aware of any weather changes. Pay attention to weather forecasts and use them to your advantage.
Ideally, mid-spring is the perfect season to put up an open house as more people are looking for new homes around this time. The change in weather coupled with that new year energy makes buyers want to look for homes before the year gets too deep. This is why the market is especially busy during the months of April and May. But while this may be the norm, there can be some exceptions, especially when weather is involved.
A snowy, muddy, or rainy environment can cause your property lose curb appeal, which may put a damper on your open house efforts. Furthermore, buyers looking to purchase in the spring know that other agents are putting houses up for sale as well, which means you may meet more than one negotiator. But considering all the pros and cons, putting up an open house in the spring time is still the safest bet.
Despite inclement weather, experts don’t suggest on postponing open houses. Remember that time is still an important factor and canceling or changing the dates of your open house at the last minute just because of the weather will cause potential buyers to lose interest. This is where paying attention to forecasts is incredibly important.
The Market Has the Last Say
While time and climate may be important factors in planning an open house, remember that real estate is still heavily dependent on market activity. Therefore, as important as it is to find the perfect date, it is also important to pay attention to how the real estate market in your area is doing. A busy market has its pros and cons and factoring these into your open house schedule can affect it. This way, you will not only save yourself the trouble of putting up a failed open house but also maximize your efforts when it comes to attracting buyers.