An open house is how people attempting to sell a home by themselves will go about it at first. It’s easy to give your house some quick updates, plop a sign outside, and wait for business. While you will see success with minimal effort like this sometimes, there are plenty of scenarios where the approach will not serve you well. You’ll need to work with a selling agent, and work on a real strategy. There are a few things that you need to know when you begin to sell.
Be ready for private showings
In most neighborhoods, the no-strings-attached nature of open houses usually attracts a high level of interest. Not many people who visit open houses tend to be serious buyers, however. When you are motivated to sell, it can be a good idea to tell your agent that you’re ready for private showings.
Usually, buyers who request private showings have attended the open house, like what they see, and want a closer look without the distracting crowd. Certainly, a private showing can be a hassle to the seller, especially if they live in the home that they are trying to sell. It can take a lot of work to maintain the staged look for just one person visiting. Nevertheless, these are serious buyers, and these showing lead to sales. You need to talk to your agent about willingness for private showings.
You do want to set a few limits, to keep off the non-serious prospect. It isn’t necessary to accommodate every demand for unusual show times. Serious buyers are likely to be sensitive to your schedule.
Consider lockbox showings
Sometimes, interested parties come in from out of town. They may just be able to manage a visit on a given day, expecting to look at several properties. Since this may or may not be an open house day for you and they are unlikely to know about your house well enough to request a private showing, it could be an idea to try the lockbox approach. It involves simply locking the house up, and leaving the key in the box outside. it’s an invitation to people to come in. It can be very attractive to home buyers.
Shop for the best selling agent possible
According to Geering & Coyler, finding a motivated real estate agent can mean the difference between a quick sale effort and an interminable one. Unfortunately, many people will try the online real estate listing route, because they charge low set fees for their marketing effort, as opposed to the higher percentages that standard agents tend to ask for.
Also Read: Questions Home Sellers Need to Ask Their Agents
Unfortunately, the savings aren’t worth what you give up. Online agents tend to have no expertise in specific neighborhoods, specific types of properties or buyers, and are unable to know how exactly to appeal to local buyers. They also tend to be less available, less able to devote time to a sale, or to know other agents in town to network with.
Recognizing the biggest positives of a local agent
Opening your house to potential buyers is about making a great impression. It might seem simple at first — all you do is to do some minor renovation, and hope for the best. It doesn’t work that way, though. It takes painstaking work to prepare a home for a successful open house or private showing. Through a lot of experience, realtors know what people tend to look for when they drive past. It’s important to understand retail psychology.
Also Read: Stage a Home on a Budget
From setting up a home with the right balance of personalization to appealing to the middle ground in taste in décor and keeping things scrupulously clean, it can take a lot of work to show a home. Potential buyers need to sense the right smells in the air, according to research. Motivated selling agents will go so far as to change drapes and furniture out if the smell won’t fade.
The biggest positive — answering tricky questions
No home is perfect, you’re likely to be dismayed by how potential buyers coming in tend to notice everything — the cracks in the foundation, the noise that the neighbors make, the sticky windows, and the area’s broadband connectivity among many others. It takes a skilled negotiator to take all these questions, and answer them to the satisfaction without actually lying.
It certainly is possible to show a home on your own, if you’re willing to devote as much effort to the project as needed. If the level of commitment seems too much, it’s always a good idea to bring in professionals.
Unfortunately, many people will try the online real estate listing route, because they charge low set fees for their marketing effort, as opposed to the higher percentages that standard agents tend to ask for.
