Page 4 - Real Estate Now Sept-Oct 2022

The Evolution of Open Houses

Ainsley Smith courtesy REALTOR.ca
EALTORS® have been conducting open houses for decades. They’re an opportunity for real estate professionals
to grow their business, network with other agents, and meet with potential buyers. But over the years, open
Rhouse culture has shifted.

Open houses used to be simple—a real estate professional would promote the event, have visitors sign-in, offer
brochures and marketing materials, and chat and mingle with potential buyers, agents, and visitors. Now, REALTORS®
have adapted to the changing expectations of clients and created open houses that are more of a social event,
providing benefits to everyone in attendance.

The benefits of open houses
In a competitive market, an open house is an opportunity to set a home apart from other listings. It can also increase
exposure and generate more attention, giving the home much-needed visibility, while also bringing potential buyers
directly through the front door.

Considering an open house is essentially a mini networking event, there are benefits for both the prospective buyers
and the agents. For starters, real estate professionals to meet interested parties while also sharing the benefits of the
neighbourhood and local amenities in a low-key environment.

For prospective buyers, while the internet may be the fastest way to find a home, nothing compares to walking
through a house and seeing it first-hand. Open houses also provide an opportunity to browse through a home in a
low-stress environment.

Open houses can also give buyers an opportunity to connect with a REALTOR® who could be perfect for them,
especially if they’re a first-time buyer and aren’t sure who they should work with.
In addition to traditional open house events, REALTORS® can also benefit by offering private open houses by
appointment. This can provide a more manageable atmosphere and personal experience for each potential buyer,
while also ensuring those who attend are in the market and not just browsing. Appointments also give sellers peace
of mind when it comes to privacy, as they can keep track of who’s coming and going, and make sure any showings fall
in line with their work, school, and personal schedules.

Another benefit to appointments is a feeling of security for those who are worried about COVID-19 or other viruses
during cold and flu season. By scheduling a specific time, potential buyers know they’ll be the only ones in the home
at the time, and sellers don’t need to worry about a packed home for a prolonged period of time.

Paul Piche, a Maple Ridge-based agent and REALTOR® at Keller Williams Elite Realty, said he also enjoyed being able
to hold open houses by appointment, especially during the height of the pandemic.

“It ensured safety for my clients and ensured only buyers with representation came through, which gave my clients
some peace of mind they weren’t just there with zero intention to buy.”
How have open houses changed?

Considering buyers often look at multiple properties in a day—many of which blend together —REALTORS® have
been turning to new ways to make their open houses memorable – starting with their promotion.

You no longer just read about upcoming open houses in the newspaper or see signs posted throughout residential
neighbourhoods. Agents are taking to the internet to market their listing events and are promoting them on websites
like REALTOR.ca or posting about them on their personal social media pages for extra exposure.

4 | REAL ESTATE NOW | LB@LoraleeBurns.com