April 25, 2012 Posted by: Liann Walborsky
When we put our condominium on the market in 2005 in Boston, MA, the main selling tool used appeared to be the ubiquitous Open House. Of course, this was at a time when the market was quite strong and selling within three weeks felt like an eternity. There was no staging — the broker felt like the condo would sell itself, and our fees boiled down to paying our broker (seller) her commission.
As the market has cooled down, selling methods have also changed — with the need for Open Houses appearing to be on the wane. According to a recent article in Smart Money, not only are Open Houses a somewhat dated concept, but very few serious buyers begin their search or make an offer based on walking into a house they have never seen before or researched. A couple of other reasons these meet and greet sessions no longer have the same cache…
So, if you are thinking about putting your home on the market and the first thing your agent recommends is an Open House, think again. There may be more effective ways of marketing your home in this still uncertain economy.
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