Why Open Houses Are No Longer Effective When Selling A Home In The LBI NJ Real Estate Market
Long Beach Island Real Estate Open HouseSelling Long Beach Island Real Estate
The decision to sell a home in the LBI NJ real estate market is often difficult. For most homeowners, Long Beach Island is the source of fun and memories and making a permanent break from LBI is hard to do. Therefore, when selling Long Beach Island real estate, you want the process to be as quick and simple as possible. One of the most common marketing mistakes made by listing agents on LBI is holding repeated open houses. Long Beach Island real estate open houses seldom produce serious results and can, in fact, hurt the prospects of selling a home.
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Long Beach Island Real Estate Open Houses-Why They Don’t Work!
The real estate industry is always changing and the way home buyers search for a property has changed as well. Here are a few statistics about searching for a home on Long Beach Island:
- Between 95% and 100% of LBI home buyers use the internet as their primary source of information
- Almost every buyer in the LBI real estate market is set up on an automatic listing notification system
- Mobile searches, using real estate apps, is growing in popularity especially during the summer months
The common theme we see in searches made by Long Beach Island buyers is the internet. This is where the major focus of real estate marketing must take place! Years ago, before the internet dominated real estate searches, the MLS (multiple listing service) was a weekly, printed book of new listings, sold listings and price reductions. Real estate agents would use these MLS books to notify prospective buyers of market activity. If an agent listed a new property, they would market that home to the area with an open house and hope to get an abundance of “walk in” traffic to see a new listing.
Now, with the internet having replaced this system, a virtual tour has, for the most part, replaced the open house. Buyers want immediate access to their information and this can only be realized by a strong first impression online. Any new listing simply must have a virtual tour and additional media to give the buyers all the information they want!
Repeated open houses can in fact hurt the prospects of selling a home. A home that has an open house every weekend or every other weekend can appear desperate…and both buyers and neighbors will take note of this.
Are There Any Advantages To An Open House?
Despite the limitations of Long Beach Island real estate open houses, I still recommend having one open house at every listing. It would be foolish to neglect any opportunity to sell a house and to that end, an open house is worth having…once. This gives any neighbors the opportunity to see the interior of a home and alerts friends who may be looking in the area. It is also VERY important to have a Broker’s Open House. This special open house is for local real estate agents and gives them the opportunity to see the home first hand. This has tremendous value as brokers can speak intelligently about the condition of the home being sold.
For more information about selling a home in the LBI real estate market, feel free to contact me, Nathan Colmer, and I will be happy to discuss LBI real estate marketing with you!
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.BuyLBI.com
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