Open Your Houses
Some realtors wonder if open houses are a waste of time, given the popularity of the internet as a house selling medium. Consider that in 1995 just 2% of home buyers used the internet to look for homes, compared to 80% in 2008 (National Association of Realtors).
Comparatively, only 2% to 4% of the houses opened up for buyer viewing actually sold. Even so, real estate agents say that home buyers often ask what other homes are on the market, therefore bringing them more business.
A seller’s time is valuable, but houses can sell at a walk-through if done properly. The best way to approach selling a home in a buyer’s market is to use every available tool. First, sellers will need to make the house look completely generic and ready to be moved into.
Everything from toothbrushes, family photos and calendars to toys, clothes and pets need to be removed. Clean countertops free of appliances are ideal, but putting out fancy place settings on the dining room table with a nice centerpiece makes the room look more desirable. A nice doormat, a glass of lemonade and fresh-baked goodies all add to the allure of new homes.
There are many ways to sell houses, although new tactics are required for this competitive market. Long gone are the days when a “For Sale” sign and some fresh flowers on the table could move a property. Today’s sellers are hiring professional crews to whip homes into shape.
They are advertising with signs, advertisements, blogs, internet auctions and open houses. They are throwing in generous incentives and assisting buyers with financing alternatives. In a buyer’s market, sellers have little choice but to experiment with marketing, or drop their prices.
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