The Nest

NestApple's Real Estate Blog

Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.

Tips on How to Host Your First Open House in NYC

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Many real estate agents still see hosting an open house as a great opportunity to generate future leads and sell homes. Buyers see open house signs and can come in, unlike in private showings where clients feel they need to decide at the very moment.

During open houses, buyers can tour the home at their own pace without feeling pressured. However, hosting open house events can be stressful to organize—especially if it’s your first time. It can also take time away from accommodating other interested buyers for different properties.

You need a reliable real estate showing suite if you want to host your first open house event and still ensure showings to other listings are scheduled. With this innovative solution, you can rest assured you don’t neglect the other properties you are selling while you are at the open house. For more tips on hosting a successful open house event, read on.

Select the Right Home before hosting an Open House

Some properties will benefit the most from an open house event than others. In case you are wondering which ones of the homes you are offering arerent to buy apartments - open house signs great open house candidates, make sure they fall under these qualifications:

  • The property is in a good location. In real estate, buyers still consider location a major deciding factor. The neighborhood and community where the home is can make a property more valuable.
  • The house is in excellent condition, and no potential buyer would be interested in entering or touring a broken-down home. When looking for the best candidates for open houses, look for properties in mint condition that are visually appealing and can attract more people.
  • The home has some unique features. There’s no point in showing off a home that looks like everyone else’s in the neighborhood. Host open house events in properties with one-of-a-kind features such as amazing sunset views, high ceilings, or spacious backyards that make them stand out from other homes.
  • The property has an average price point, and the price is another consideration for a lot of buyers. When hosting an open house, make sure to select homes in the middle range in terms of pricing. Typically, these properties are in high demand compared to more luxurious ones.

Familiarize Yourself with the Area

Part of the preparations you need to do before you host your first open house is to get acquainted with the neighborhood where the property is located. Check out the nearby amenities like parks, schools, recreation centers, and more. You can spend a morning or afternoon visiting and familiarizing yourself with the community.

Remember to make a comprehensive comparative market analysis to ensure the home is priced correctly. While at it, see the available listings in the area and compare them to yours. It can be helpful to find out the recent sales in the area so you can share them with prospective buyers. When they hear that the property is in a sought-after neighborhood, it might entice buyers to become residents.

Help the Seller Stage the Home

Before presenting a home to the market, you need to ensure that it is appealing to the buyers. Even the most beautiful property needs to be assessedMLA RLS before public viewing. At times, the seller won’t notice some things that are crucial in the buyer’s eye. It’s up to you to assist them in preparing the home for the open house.

Take a tour of the house and create a list of maintenance tasks. It can include touching the wall’s paint, replacing broken window blinds, or oiling squeaky doors. It would help if you also asked the seller to declutter their home.

Like most homeowners, the seller has personal items on display to make their home more comfortable and personal. However, these objects may not have the same homey effect for buyers who see them as clutter. It’s best to keep these personal belongings during showings to let clients visualize the space as their own.

Clean up the Space before the Open House

Before hosting an open house, make sure the property is clean. You can hire professionals to perform a deep clean or ask the seller to clean their home thoroughly. While doing this, tidy up all spaces even the garage and closets. Many buyers often look behind every closed door to inspect the amount of space a property has.

Additionally, your home’s curb appeal is equally important as the interior. Something as simple as moving the lawn, rake the leaves, and replace busted outdoor lights. Pay attention to the backyard and make every part of the property inviting.

Come Early to your Open House

One important thing you need to remember when hosting an open house is to get to the property early. Being late is not an option; arriving late to a group of people waiting to enter the house and attend an open house would be a mistake. This is unprofessional and can put off some buyers. Also, it can set you up for a stressful start to the day.

Coming in early allows you to prepare the home better, like switching on the lights, opening windows, turning on some mood music, and putting out all marketing materials. It also gives you ample time to get yourself ready. You can use your spare time to go through details about the house and make some last-minute inspections.

Hosting an open house is a great way to sell a property and generate future leads. But it can be challenging and time-consuming to organize, even for more experienced real estate agents. To ensure you have a successful event, begin your preparations at least four days ahead of the date. Don’t hesitate to reach out to more seasoned realtors for additional tips.

Written By: Georges Benoliel

Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.

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