Just like the milkman, the payphone, and ketchup bottles that are not inherently upside down, open houses are becoming outdated when it comes to marketing your Toronto home. Why are they becoming outdated? They have been proven to simply be ineffective, reaching only a very small audience.
In Toronto and the GTA, we are in a large market. Buyers are more dispersed than ever. The ways in which homes are sold in Toronto and the GTA have changed drastically in recent years. To sell your home effectively, you really need to ask yourself if having an open house is a good way to reach the largest audience and if it is worth wasting time doing.
Frank Leo has become one of the top realtors in Canada operating in the Greater Toronto Area – all without ineffective open houses.
Open houses attract nosey neighbours and people who happen to be passing by (not necessarily buyers), while you are missing out on the bigger sea of motivated buyers in the Greater Toronto Area and beyond. People in your neighbourhood are likely to stop by because it is convenient. Not because they are thinking of buying. You may be missing out on serious buyers from other areas of Toronto and the GTA who are desperate to get into your area. In 2014, only a mere 1% of homes were purchased after seeing a yard sign or an open house.
As technology and our dependency on it has increased, so has the means in which we market homes. With over 90% of home buyers starting their research online and in print, we need to ask ourselves, why are we still having open houses? Instead, our focus should be more on preparing your home for pictures and the ads online and in print.
Real estate agents know that open houses don’t bring in many buyers, just lookers. Many of these “lookers” will just show up to either get an idea of how much their house could sell for, some decorating tips for their own house, or just to kill an afternoon. It can be difficult to truly identify who is serious and who is just browsing.
As we said, many real estate agents know that open houses are ineffective. Sometimes Realtors will hold an open house to simply please their clients and show them that they putting in the work. Other times realtors will use open houses as bait to meet prospective buyers just so they can push other properties for sale or generate leads for their own business. Would you like your home to be used as bait for a realtor or other home sellers gain? That’s another reason why Frank Leo doesn’t believe in ineffective open houses.
You’ve put years of hard labour into your home. You don’t have time to sit and host multiple open houses to people who may or may not be interested in your home. The Guaranteed Home Selling System gets your home noticed by the thousands of buyers from all over the Greater Toronto Area with 24/7 advertising.
During that process interested buyers are screened and only then will they see your home. When you sell your Toronto and the GTA home with Frank Leo you are entertaining qualified candidates.
If you’d like to sell your Toronto and GTA home and start entertaining qualified buyers, get in touch with Frank Leo and Associates today.