For many real estate sellers, the expectation of holding an open house is automatic. Sellers may assume that open houses are highly effective ways of generating interest and offers, which most real estate professionals know is not always the case. Open houses are time-consuming and demanding for clients and real estate professionals alike. Sellers must make great efforts to prepare and then vacate the home, while agents spend time and resources publicizing the open house, creating marketing materials, working the event, and following up with prospective buyers. While open houses can be useful marketing tools in some cases, there are situations when other strategies may be more advantageous. Here are some cases when an open house may not be the most effective option:
1. Sellers markets
When inventory is low, a new online listing and is often enough to prompt numerous showing requests and even multiple offers in some cases. It simply may not be worth the time and effort to hold an open house when prospective buyers are clamoring and vying for real estate opportunities.
2. Covid spikes
The Covid-19 pandemic greatly reduced the number of open houses held across the country as people made efforts to quarantine and maintain social distance. As pandemic spikes occur in certain regions, prospective buyers may again be reticent to attend open houses that could be crowded and prefer to virtually tour homes online instead. If Covid-19 numbers are increasing in your area, it may be advisable to use another marketing technique for your listings until trends wane.
You may not attract as much interest in an open house that’s held during a holiday period when many people are traveling or have plans with friends and family. While it can be tempting to show off a listing that’s tastefully decorated for a holiday, virtual tours or social media may be better alternatives.
During cold and snowy months, muddy springs, or when heavy rain is predicted, people won’t be as eager to be out and about. People tramping in with wet shoes and boots can also make a mess of freshly cleaned listings. Be sure to check the weather forecast before you schedule an open house.
Community events, such as sporting competitions, parades, charity runs, and other occasions can conflict with open house dates and decrease your pool of potential attendees. It’s a good idea to consider the calendar and work around popular events when planning to hold an open house.
6. Remote listings
If a property is off the beaten path and too far away from the center of your town, it might not attract the amount of traffic needed for a successful open house. Lookers may not want to go out of their way or drive a great distance to attend, and open house signs may not be seen by many.
If you’re looking to attract attention for a new listing or to rejuvenate interest in a home that’s been on the market for a while, consider adding an HSA home warranty. In addition to adding value to real estate transactions, HSA home warranties can help highlight listings by differentiating properties from others on the market. Knowing that a home has HSA coverage can also reassure potential buyers and promote confidence.
Adding HSA coverage is easy and takes a lot less time than planning and holding an open house. Simply contact your HSA Account Manager or visit onlinehsa.com.