Why there are a lot fewer open houses on long weekends

Good time or bad time for an open house?
There is a very strong inherent bias against doing open houses on long weekends by many real estate professionals. The party line goes: “everyone wants to spend time with their families and won’t take the time to come to my open house”. You can also expect such sentiments to be heard from the “open houses don’t matter” crowd.  We believe that the reality is, many Realtors also prefer to have the weekend off (albeit probably well deserved!) with their family and thus pooh-pooh the notion of there being any value to holding an open house.  To be fair, many sellers may prefer to have family time, especially if their property has already been on the market for a while.

One can expect to see more open houses happening either the weekend before or the weekend after a long weekend. But does this mean one should avoid holding an open house on a long weekend?

In our opinion, absolutely not! If it fits the schedule and marketing plan for widest and timely exposure of a listing, there is absolutely nothing wrong with scheduling an Open House on a long weekend.  While it is true that many potential buyers will be spending time with their families or travelling, if a home purchase is a high priority and the property fits the buyer purchase criteria, we believe most will find a way to get to a pertinent open house.  In fact, the most highly motivated buyers may well be those that show up at these, though one should expect fewer visitors overall.

It is equally true that many buyers or out of town buyers may use the extra day of a long weekend to focus on their home search or at least include it in their plans.

Why there are even fewer open houses in 2017:
We have a strong market in 2017 with limited listing inventory. Consequently, things are selling faster and Realtors have to hold fewer open houses to showcase listings.

This can be a challenge for the casual “I’ll-know-it-when-I-see-it” buyer or those not engaged with a Realtor, as quite often homes will be sold or conditionally sold, before the first open house even rolls around.

So how are we spending this long weekend?
A very recent listing is ideally suited for showcasing this Labour Day weekend, so we are scheduled Monday 2-4 PM at 5K Banner Rd. This is avery reasonable townhouse condo near Algonquin College that has been fully renovated. Check it out! http://oreb.mlxmatrix.com/matrix/shared/5Z7Hy8fgMh/5BANNERROAD

Buyer top: search for all Open Houses being held this weekend on MLS® at www.ottawarealestate.org ….although there are just over 100 to choose from this Labour Day.

Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage
oasisrealty@rogers.com
www.oasisrealtyottawa.com  blog.oasisrealtyottawa.com
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11th year in business as a lower commission brokerage

 

 

 

 

Published by

Gord McCormick

Brokerage owner for 10+ years, Senior Member of Ottawa real estate board and former VP sales.

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