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There are expectations that must change, rules that must be forgotten. Realtors once had to usher in potential clients, had to allow homes to be examined by cautious eyes. The open house process was understood as the most effective form of marketing — with properties able to be experienced by the masses, increasing the opportunities for sales.
The times have shifted, however, and this is no longer deemed the ideal introduction between buyers and sellers. It’s instead considered antiquated.
The open house — a format that allows a property to be revealed to the public for a series of scheduled days — is being replaced. Consumers are now seeking homes online (taking advantage of customized search possibilities, photo galleries and instant access to pricing). There is no need to engage a realtor or home owner with random questions or viewings. Instead individuals can look at a wide variety of listings, quickly discovering what appeals. It is estimated that 70 percent of all purchases are initiated through virtuality.
And this number can’t be denied — especially when compared to the mere three percent of individuals who buy after seeing properties for the first time in open house atmospheres. The difference is startling.
It should be noted that realtors do still rely on the open house process. It has merely become streamlined, offered to parties who make specific requests. This ensures that the results are stronger because the buyers are genuinely interested — rather than merely deciding to peek inside a stranger’s home.
The open house is an idea that has been replaced, and the real estate market is improved because of it.
