Open Houses are Super-Effective in a Seller's Markets

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Now is the Perfect Time for an Open House

Today I was on a listing presentation speaking about how I use open houses as an efficient way to sell properties. I think they're an extremely useful tool because in seller's markets (like the one we have here in the Northville area) buyers flock to open houses. 

When inventory is low, buyers want to make sure that they see everything on the market. Open houses are a convenient way to invite potential buyers right into your home, and because you get so many people at once you have a high likelihood of receiving an offer. On the flip side, when there are lots of homes to view, open houses don't draw too much of a crowd because there are so many other properties available. However, right now is a perfect time to conduct an open house because we have a low inventory of homes. 

I have found open houses to be an extremely effective selling tool in seller's markets like ours here in Northville and Novi. The way I thoroughly market my open houses gets 30-50 people coming through. This isn't your typical open house where you put out one sign and pray someone shows up. I market the open house online to over 200 websites and mobile apps, invite all our buyer leads, invite local brokers with potential buyers, and invite the local community including people currently renting that may want to buy.

So, would you rather have 30-50 individual showings or would you rather leave for an afternoon and come back with a purchase agreement? When you go through with an open house you will have your home seen by many different buyers and it will significantly increase your chances to sell with multiple offers.

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