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Selling your home in today's real estate market involves doing whatever it takes to get your home sold. One "tool" that an agent uses is the public open house. Generally held on the weekend, the purpose is to attract potential buyers.
So, you've been gone during the open house time. Returning home, your agent is closing up your home after a weekend open house. Here are some questions you might want to ask about the open house:
1. How many people stopped by and who were they? If the turnout was disappointing, you may want to ask your agent about his or her efforts to attract people to the event. Was the open house listed in the newspaper? On the internet? In the multiple listing service? Was it mentioned around the agent's office? Did any of your neighbors drop by? How many directional "open house" signs were used?
2. When and how will the agent follow-up with prospective purchasers or their agents? Buyer prospects who seem well-qualified should be contacted as soon as possible after the event and asked whether they're interested in seeing the home again, have any questions or concerns about the home or are planning to make an offer to purchase it.
3. What positive and negative feedback did the agent receive about the home? You'll certainly want to know what people are saying about your home, but don't take minor criticisms too personally or overreact to any one person's comments. Do pay attention to repeated criticism of one or more specific aspects of your home. You can disregard one person who dislikes your taste in wallpaper, but if several people make the same comment, you might want to have that offensive pattern stripped off.
4. Did any problems or mishaps occur during the open house? Many open houses attract only a handful of visitors, but it's also entirely possible for 15 or 20 people to come through your home in a couple of hours. If there were any problems -- someone injured a knee on your glass -- topped coffee table or slipped and fell on the wet grass in your backyard-you'll want to know about it.
5. What's next? Now that the open house is over, what else is your agent planning to do to find a buyer for your home? Does the agent intend to continue with the existing marketing tactics or will some new plans be put into action? Would another open house be worthwhile?
OPEN HOUSE TIP: Some surveys suggest that open houses are more beneficial for the agent than the home seller and that only a tiny percentage of homes are sold as the direct result of an open house. However, in a challenging real estate market, sometimes buyers are more comfortable wondering around on their own on the weekends, looking at houses, rather than go out with an agent. Discuss the pros and cons of holding multiple public open houses with your real estate agent.
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