April 16th, 2024 | Selling

The Abiding Value of the Open House

An industry in persistent evolution, real estate processes face constant analysis of their effectiveness and relevance. One such tradition facing this contemporary scrutiny is the open house. 

For several decades, the process of hosting an open house was routine among real estate agents. Given that practice enabled sellers to elevate their property’s exposure while simultaneously inviting potential buyers to discover their future homes, the multifold benefits of open houses were widely recognized. However, as a new generation of agents enters the profession, some are electing to bypass public showings altogether. 

Though verdicts vary across Toronto’s industry landscape, in our opinion, the value of hosting an open house remains palpable for most for-sale properties in the city. In this blog post, we will discuss why. 

Armin Yousefi, REALTOR®, Senior Vice President, Sales Sotheby’s, and team lead of Armin Group recently spoke to the Toronto Star about the value of open houses in a contemporary real estate market. Click here to read

Cornerstone of Connection

While some sellers may assume that the intentions and advantages of an open house are identical to those of a private viewing, that is not exactly the case. The abiding efficacy of open houses is rooted in organic discovery and connection. As most prospective buyers attending an open house are viewing the home for the first time, their initial impressions are unmuddied by how the property appears online. This allows for an open, unbiased analysis of the property. 

Further, unlike an agent-guided tour, open houses typically offer a window of multiple hours, allowing prospective buyers to tour the property at their own pace. For some prospective buyers, this private and unhurried introduction to the property fosters richer interest. 

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Illustrations of Everyday Life

Another evident distinction between open houses and private viewings is the scale in which a potential buyer can envision their everyday life within the neighbourhood in addition to the home. 

While a private viewing is scheduled in advance and occasionally part of a larger multi-property itinerary, open houses are often discovered by prospective buyers who are passing by on foot or visiting the neighbourhood on their own terms. With this in mind, buyers are often not merely connecting with the property during their visit, but also the surrounding neighbourhood. Ahead of or succeeding their visit, buyers are exposed to the ambience and amenities of the surrounding community. This exposure assembles a more complete image of what life in the property could look and feel like for them.  

Exceptions to Value

While many listings stand to obtain immense benefits from public showings, there are instances where the practice is considerably unpragmatic. As an example, sophisticated properties with higher price points and a naturally limited pool of potential buyers may not draw a sufficient volume of relevant buyer interest from an open house. Further, the event may instead attract visitors who intend to tour the home merely for entertainment purposes. 

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Real Life Conversions

While the theoretical value of hosting a public showing is evident, we would be doing you the reader a disservice to neglect our proven, real-world examples of open house success. As one of Toronto’s most active and prominent real estate teams, we have witnessed innumerable property sales that were initiated by an open house. In other words, it is far from uncommon for a buyer to stumble upon an open house casually and eventually purchase the property. 

Selling Your Toronto Home?

At Armin Group, our selling strategies are deliberate and carefully executed, allowing us to deliver best-in-class results every time. Anchored by our exclusive affiliation with global industry leaders Sotheby’s International Realty Canada, our elevated brand recognition and proven expertise in selling opulent properties have cemented a new standard of excellence in Toronto’s vast market. 

Leaving no opportunity for exposure unconsidered, our approach to attracting buyers is bar none. Beyond hosting connection-building open houses, our expansive marketing strategies are informed by our expertise in buyer wants, leading design trends, and other insights from the market. Further improving your selling journey, our end-to-end white glove service allows us to ensure your home is positioned for exceptional market performance while minimizing hassle, stress, and disruptions. 

Seeking a seamless and personalized property sale? As distinguished leaders in luxury Toronto real estate, Armin Group can help. Send us an email, or call our team at 416.347.4061 to begin your journey. 

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