Should I have my agent host an open house?
WASHINGTON (April 19, 2013) Despite the digital age, open houses have remained one of the top resources for buyers when it comes to their home search process. This weekend buyers can get a jump on the spring buying season by visiting open houses in their area during Realtor® Nationwide Open House Weekend, organized by state and local Realtor® associations across the country. This Saturday and Sunday, April 20-21, Realtors® will host thousands of open houses, helping to successfully bring together home buyers and sellers.
Realtor® Nationwide Open House Weekend is a great opportunity for buyers and sellers, said National Association of Realtors® President Gary Thomas, broker-owner of Evergreen Realty, in Villa Park, Calif. â€œFor buyers it's a chance to get an idea of what they can afford in the local market and also get a feel for what they need and want in a home. It's also a fantastic way for sellers to showcase their home, as well as scope out any competition in the area.
The Realtor® Nationwide Open event also gives Realtors® a chance to connect with the community about housing issues that matter most to them. Realtors® will be available to answer questions about home ownership and provide insight about the local housing market and the home buying process.
NAR's 2012 Profile of Home Buyers and Sellers shows that buyers use open houses differently. Repeat buyers are more likely to use open houses than first-time buyers, as are buyers who were not born in the U.S. or whose primary language is not English. Older buyers rely more on open houses than younger buyers, while buyers with higher incomes are more likely to visit open houses. In addition, buyers in the South are the more likely to find their home through an open house compared to other regions.
Buying a home is one of the most important purchases in a person's life and deciding on a particular house requires thoughtful planning and decision-making,â€ said Thomas. â€œIn addition to setting a budget and deciding where to live, it's crucial for buyers to think about what they need and want in a home. Open houses can give buyers a clear idea of what features are most important to them.
According to NAR's 2013 Profile of Buyers' Home Feature Preferences, the typical buyer purchased a home with three bedrooms and two full bathrooms. When it comes to home features, buyers prefer central air conditioning the most, while walk-in closets were second. The two most common rooms buyers were willing to spend more for were a laundry room and a den/home office. Satisfied buyers also said they would prefer more or larger closets and storage space.
Buyers who are willing and able to take on the responsibilities of home ownership can begin their home search by attending Realtor® Nationwide Open House Weekend,said Thomas. They will also have a chance to connect with a Realtor® who has a unique understanding of the local real estate market, as well as the home buying process. A Realtor®'s expertise and knowledge can help buyers and sellers achieve their dream of home ownership.
The National Association of Realtors®, The Voice for Real Estate,is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.