Do you prefer a one-hour or traditional open house? Byron Lazine and Tim Bray tackle when it’s appropriate to do both in this video.
A one-hour open house creates a sense of urgency. More people will be there in a shorter time span, therefore, the house will look like it has more interest. It also saves the real estate agent from wasting valuable time.
A stale property with a slight price reduction should have a one-hour open house because you want any potential buyers to run into each other.
However, if you’ve strategically under-priced a listing to create a feeding frenzy, you might want to allow more time for buyers to come through.
Byron Lazine said the dream scenario is 10 to 12 groups. Having several groups in 15-minute blocks is ideal for motivating other buyers. This also creates a sense of urgency that is invaluable for selling the house.