Editorial

Front Page - Friday, January 14, 2011

Real Estate Facts

Expose yourself

Elwynn Schwartz

There is much debate among real estate professionals about the value of holding an Open House. Some insist these events help get the house sold. Others argue it’s an outdated practice in the digital age of virtual tours. However, it’s been estimated that nearly half of all buyers who visit open houses first learned about them on the Internet.
With all the time and money that an agent puts into marketing your home, an Open House puts those very targeted buyers inside your home and in front of your representative. One of the best aspects of the Open House is the feedback that visitors provide, feedback that can suggest you change your approach or make needed improvements.
Aside from interest generated by the Web, the signs your agent places may also attract curious passersby. While they may not be making a purchase themselves, they may very well know someone who is. An Open House also helps to create a sense of urgency among those who visit, particularly when they see that other buyers are showing interest.
Obviously, a successful Open House exposes your property to a broad base of buyers, but even if only three people visit and one makes an offer, it was clearly worth it. Not all homes are ideal candidates for this type of marketing, so ask your agent about the possibilities.
Elwynn Schwartz is the owner of Chattanooga Real Estate Consultants and may be reached at 423-894-3050.

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