combining many showings into one.
Open houses appeal to buyers who are looking for a home but haven’t yet gathered enough information or done enough investigation of the market to be ready to make a decision. They want to “browse” an area on their own before formalizing a relationship with an agent. On the psychological front, an open house can also increase competition for the home. People tend to take the old phrase “Hurry! It won’t last long” with a grain of salt unless they are jostling for position to see a room with five other people crammed into a doorway. This can be a powerful motivator for an indecisive buyer to get off the fence. It can also be the start of a bidding war, which is good for the seller. Before scheduling your open house, you should study the activities calendar of your area to avoid conflicts such as annual festivals, holidays, or special events to ensure there is nothing happening that could conflict with attendance and keep your targeted audience from your open house. Look for a calendar “dead spot.” Open houses in a seller’s market can be very busy, with many people milling around a property, catching bits of each other’s conversations, and infusing potential buyers with a sense of urgency and competition to place an offer before they miss an opportunity to bid. Should more than one party be interested in the home, a bidding war can begin, which is a great advantage to the seller. If you’re using a real estate agent, she will send out an email announcement to her own private mailing list, as well as to every real estate broker and agent within the area to ensure that your open house event is publicized to maximize overall attendance. She will also promote your open house on existing
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