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The Open House is just a part of the marketing strategy to effectively sell a home, but it can be an important one. The number of people it attracts can strongly correlate with both the number and quality of the offers you receive. So while you may not have the luxury of selling your home in the best possible month, you can at least sell it on the best day of the week. Find out more about who's searching and what you can do to maximize your bottom line.
Online Searches
Unsurprisingly, homebuyers are no longer relying solely on the balloons and signage of yesterday. Instead, they're headed straight to Google to learn more about what's available in each neighborhood. In fact, 88% of buyers said that websites ended up being the most valuable tool when it came to their home search. If you consider when people are searching, there seems to be a clear winner.
Sunday, Sunday, Sunday
Real estate agents and Google alike all seem to agree that Sunday is the day when buyers are most likely to look for the home of their dreams. The peak traffic is between 8 – 11 a.m., meaning the afternoon will likely attract the highest number of people. If at all possible, you should avoid hosting an Open House near a holiday. While Saturday is certainly the next best choice, it simply can't hold a candle to Sundays when you look at the data.
Understanding the Market
Houses are one of the more unpredictable components of a home sale. You may end up finding three qualified buyers who each want the home more than the next. But you can just as easily end up with a houseful of curious neighbors who want to know the listing price, why you're leaving, and whether you remodeled your kitchen. An experienced real estate agent can let you know if your home is more suited for private showings or a broader marketing campaign.
Some sellers will use Open Houses as a strategy to better understand how buyers see the home. After listening to people and watching their reactions, sellers may learn it only takes a coat of paint or a flower bed to improve the desirability of their home. But more often than not, an Open House is tailor-made for real estate agents.
A professional will know how to use an Open House as a larger part of a larger plan for exposure. The relaxed atmosphere helps buyers connect with a home, and it allows real estate agents to crystallize how they can best leverage that interest. It just so happens that Sunday is the best day of the week for just that!
