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 fi ve other people crammed into a doorway. Th is can be a powerful motivator for an indecisive buyer to get o ff the fence. It can also be the starting gun of a bidding war, which can only be good for the seller. Before scheduling your open house, you should study the activities calendar of your area to avoid con fli cts such as annual festivals, holidays, or special events to ensure there is nothing happening that could con fli ct 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 o ff er 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, s/he will send out an email announcement to their 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 on all open house websites to maximize overall attendance. S/he will also promote your open house on existing social media platforms. Social media is extremely important in real estate marketing, as most potential buyers will look at listings and open house ads online before they physically visit the home or property. If you don’t have a Realtor® and are doing your own marketing, don’t wait until the day of the open house to throw up a couple of signs in the neighborhood or plant a sign in the yard. You must 52
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