Q: â€œOver memorial day wk end, should I have an open house. I know there are tons of buyers, but don't want them all to be out of town.â€
A: Iâ€™d like to suggest that an open house is just a small part of your overall strategy â€“ most buyers visit a home because of what theyâ€™ve already seen online. If they canâ€™t attend an open house, theyâ€™ll simply get their agent to show them the home at another time that works for everyone. Itâ€™s really important that you make access to your home as easy as possible the entire time itâ€™s listed.
To get the maximum exposure possible, we typically hold our listings open for 2 consecutive weekends, so if one of them is a holiday weekend, it really doesnâ€™t matter. There are still plenty of people who will avail themselves of the open houses and lots that will come at other times with their agents.
Q: â€œAlso, how should I negotiate with my listing agent.â€
A: This question brings up a critical point: the critical 3Ps of selling your home: Preparation, Pricing and Promotion. Negotiation with a prospective Realtor begins at your first meeting where they explain what they will do in each of these three critical areas. How will they help you Prepare your home to maximize its market potential? How will they coach you on setting the Price? Too high or too low means youâ€™ll leave money on the table. What is their strategy for low appraisals? And how will they Promote your home? Do they provide critical staging at no cost to you? Professional pictures? Custom websites? How will they drive traffic to your home other than open houses (the least effective way to get people into your home) â€¦ and so on. If you want them to earn their full commission, make sure you get your moneyâ€™s worth by hiring the one with the best overall marketing plan and strategy.
Here are a few posts that may be helpful:
Top 5 Questions To Ask A Listing Agent (And 5 Classic Questions That Are Meaningless)
Set the Stage for Maximum Returns
Top 15 Things A Listing Agent Wonâ€™t Tell Sellers â€¦ (But REALLY Should â€¦)