Every now and then one of our clients will ask us if we will do Open Houses or newspaper advertising. Because we provide our selling clients with BIG COMMISSION SAVINGS, compared to traditional REALTORS®, we must focus on those advertising vehicles that work, i.e. those that bring in home buyers, not the fluff.
Far better to work with a REALTOR® who knows to sell homes. This link will help you select the best REALTOR®.
According to a survey conducted by the National Association of REALTORS® in 2015, the top 5 tools that home buyers employed for their search were as follows:
Top 5 Tools for Finding Buyers:
- Online website – 88%
- Real estate agent – 87%
- Mobile or tablet website or application – 50%
- Mobile or tablet search engine – 48%
- Yard Sign – 48%
This information confirms two things. First, the online experience is EVERYTHING these days. Second, buyers still drive around neighborhoods to get a feel for what they are like and to spot homes for sale.
Now let’s look at how home buyers actually FOUND the home they purchased. According to the same survey, the results are as follows:
How Did Buyers Actually Find Their Home?
- Internet – 43%
- Real estate agent – 33%
- Yard sign – 9%
- Friend, relative or neighbor – 6%
- Home builder or their representative – 5%
Open Houses do not even factor.
Why do some REALTORS® still do Open Houses?
1. As ‘smokescreens’ to defend higher traditional commissions
2. To please you, i.e. you can see them at work
3. They want to meet your neighbors. Open Houses can be a great way to meet neighbors who might be planning to sell their own homes at some point
4. It’s an easy way for REALTORS® to win new buyer clients, i.e. they use your house as a ‘show room’ to meet prospective buyer clients. As the stats above show, they are unlikely to buy your home.
Who Comes to Open Houses?
Neighbors who just want to see your house, perhaps because they are nosy, or thinking of selling themselves. Others come to get decorating ideas and yet others come as a fun way to fill a weekend afternoon. Real buyers know what they want and make appointments.
Still want an Open House?
Occasionally one of our team members will ask if they might conduct one for you. Just as long as you know, it’s more likely to help us find new clients, rather than sell your home.
Want more information about our discount and flat fee home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014 or visit www.LowestRealtyFees.ca
Lowest Fees & Best Results,
Flat Fee Realty Services from $4500