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After 44 years in Real Estate I can honestly say Home Opens do work but it depends on the activity in the market.
In 1970, when I first started in Real Estate, I had Home Opens on Saturday and Sunday for two hours at each property, this is what we did then. Today sales reps can do 10 a day but only for half an hour at each home.
The number of clients visiting your home opens can vary from 0 to 50. I can honestly say that opening 8 homes a day and not seeing a sole makes for a very long lonely day. Each home open requires putting out 2-5 home open signs, just to take them back down in 30 minutes. However, it’s not always like that, recently I completed a home open at Goode beach during the school holidays and 29 people visit the home. Having such a huge volume of people meant I couldn’t talk to everyone or get an indication if anyone was interested in buying the home. That is extreme, however we are there to present the property and give the public an opportunity to inspect out of working hours at a time that is convenient to them. Its also a great opportunity for us to interact with buyers and to see if they need assistance with selling their current home.
On average we generally have 2 or 3 groups through each home open. I usually have 4 or 5 homes open on every second Saturday, this gives me a chance to expose all my listings on a roster basis. We don’t usually hold home opens on tenanted properties as a sign of respect to the tenant.
If you are wondering if we sell homes from home opens, the answer is Yes! In the past 4 months I have sold 2 homes as a direct result from home opens.
One thing I have noticed in recent years is how differently younger buyers act compared to their older peers. Younger more technologically minded buyers stalk everything on the internet viewing all the photos, google street maps and anything else they can get their hands on BEFORE inspecting a property. Younger buyers look online for home open schedules and only inspect properties that suit their needs. On the other hand, older buyers are more willing to come along to a home open after seeing one advert in the paper which contains minimal information.
Website advertising and social media has had a huge impact on real estate with so much contact received by emails and text messages. For us that means less and less face to face contact with people. Personally, I love interacting with people, talking about their lives and finding out how I can assist them. This is the reason I still complete home opens, for me, the opportunity to meet more people is worth the risk of a few lonely weekends.
My opinion by Kevin Marshall Real Estate Agent.