Analyze the environment in which this property is located.
1. is their organic traffic?
2. What promotional/advertising options are available? Sign/bulletin traffic is the biggest draw.
3. Does this property possess the 'must see' attributes you can exploit.
4. Is their easy accessibility.
5. What is the composition of the community?
a)Near a professional center. Host a "have lunch on me" open house during the week.
b)retirement homes - Collaborative marketing is very beneficial
c) hospital - target employee parking facilities if possible
d) residential - signage is critical
e) shopping, tourist area - signage is critical - collaborative marketing is very beneficial.
You are the NY,NY specialist able to analyze the environment in which this home exists. Take the pieces that fit the environment and work with it. Not all properties are candidates for open houses. Don't waste your time trying to make an elephant dance. AND...never do an open house alone.
For residential SFH Sunday is the best time. Do yourself a favor and post a sign the week before that states:"Open House Sunday 1PM" (4PM works well also) Schedule 30 minutes for our open house, have the resources and a real plan for taking advantage of a group of people.
If you do not have a plan for what you want your open house to accomplish, you can be certain it will accomplish exactly nothing. It is unlikely a buyer for this home will result from an open house, so don't be tempted to treat those in attendance as the buyer for this property. (a clue) Know who attends open houses, understand what is on their mind, and use the understanding as portals of entry.
During the summer, weekday evening open houses work for buyers that can come after work 5:30 - 7pm because they are away on weekends. Buyers usually visit between 4-6 open houses the same day.
Saturday is not a good day in Manhattan. Most bokers take Saturday off and many rental building leasing offices are closed. Open Houses work in Manhattan. They are very effective and they do sell properties here. National averages are irrelevant in Manhattan. Real Estate is local.
Most Realtors are flexible about the closing time, because when it dries up.....
Saturdays can be good, but most people are washing the car or shopping on Saturdays.
If I had a great house and a good Seller, I would do Sat and Sun, at least the first O.H.
Good luck and may God bless
Hope this helps.
Don't host one if you are alone in that time slot. Host one when others in your immediate area are also hosting. This way you get more foot traffic as opposed to people making a special trip jus to see yours, they may not want to do that.
Broker open houses always during the week, public open houses on Sundays. In the summer time evenings work because it's light out until late. Winter time they dont work as well.
Most of the people I see are not coming from church and don't have cars so not really a factor.
You may need to try a few different times/days to attract different buyers.
Arthur â€œUngieâ€ Golden | Licensed Real Estate Associate| REBNY Member
Prudential Douglas Elliman | 1995 Broadway, 4th Fl | New York, NY 10023
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