Are Open Houses In Las Vegas Still Effective Selling Tools

Are Open Houses In Las Vegas Still Effective Selling Tools

    For years, there was little debate about the need for open houses in town: almost without exception, unless the seller of a local home objected, at least one or two open houses were an accepted part of how most real estate agents went about marketing the property. 

    Today, along with all the other changes that define modern real estate marketing, the potency of open houses is up for serious debate. Virtual online tours are increasingly popular among area real estate sellers and buyers—the ‘use’ statistics that tell agents how often the different parts of their sites are viewed prove that. Since open houses were formerly held to display a property to members of the general public—and since virtual tours do the same thing—it’s truly a question that deserves a hard look. 

    Here are three of the main reasons I see frequently cited for why open houses are still useful—and some both pros and cons for each: 

        1. Open Houses Can Bring Higher Prices 

    Pro: Open houses are most important for high demand properties when there is low inventory for similar homes. It can be possible to stage open houses in combination with delayed offer reviews—in this scenario, the seller hosts several open houses leading up to a final date when he or she will review competing offers. 

    Con: The same is accomplished with well-produced virtual tours. Interested viewers then contact the agent, who can qualify the prospects who will be invited for an actual on-site showing. Competing offers are just as likely to develop. 

        2. Open Houses Are More Convenient for Sellers 

    Pro: People want to sell their local homes as quickly as possible if for no other reason than they must keep their houses spotless and organized while on the market. Open houses are one way for sellers to have to prepare fewer times for their home to be displayed to buyers. 

    Con: Virtual tours accomplish the same thing for a far broader cross-section of the public. Professional photographers use their photo session to record the property at its spotless best, which is then on display 24/7/365—not just for one or two days! 

        3. Open Houses are More Convenient for Prospective Buyers 

    Pro: Interested parties can pop in for an on-site tour without the hassle of contacting the agent and scheduling an appointment—basically, of making even a minor level of commitment in advance of knowing much about the property. Open houses thus broaden the property’s exposure. 

    Con: Serious home shoppers are going online en masse; the effort expended on an open house is better spent preparing for interested, qualified buyers. 

    Every area home for sale presents uniquely individual marketing opportunities and challenges. Ruling out open houses (or ruling them in) as a one-size-fits-all solution is not the way I expand the reach and appeal of the properties I represent. To talk about how we can maximize your area real estate opportunity, just give me a call! Image title


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Phone: 702-785-4699
Dated: July 1st 2015
Views: 358
About John: John Gafford, as seen on NBC’s The Apprentice, is a listing specialist. As the Broker Owner of the...

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