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.
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 neighbourhoods 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 are not attributed as a key source of buyers.
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.FlatFeeRealtyAdvisors.ca
This blog was first posted March 2017. It was amended May 3rd 2018