First time home sellers can find the process of marketing and selling a house a little confusing, but once you’ve experienced a few real estate transactions you’ll have it down pat. You can rely on your realtor to explain everything clearly so that you understand the various marketing strategies employed to help sell your house.
What is Open House?
You probably already know this one, it entirely likely that you visited your present home for the first time during an open house. Basically, open house is a prescheduled day and time where your house is open to the public for viewing. It’s a great way to create excitement about a newly listed property. Your realtor (or possibly an assistant) will be at your home (generally the owners leave for the duration of the open house) to talk with prospective buyers and point out the special features of your property.
What are Home Showings?
Home showings are often productive, private visits by single buyers, often accompanied by their buyers agent. These buyers have expressed specific interest in your house, perhaps after seeing it on MLS listings or whatever other advertising medium your realtor has chosen to market your house. Home showings can lead to second visits which are especially exciting; they could be a precursor to an offer on your house!
What is a Realtor’s Caravan?
No, it’s not the model of mini-van that realtors favour. A realtor’s caravan is an organized tour of your house for other realtors, who have been invited by your realtor, usually just after your house has been listed for sale. The realtor’s caravan is particularly valuable for getting some valuable feedback from local realtors who are knowledgeable about local real estate market conditions. These professionals may have suggestions to make your listing more attractive to local buyers and opinions about your pricing strategy. If you are in luck, one of these realtors may have a client who is looking for a house just like yours, prompting a quick sale. In sluggish real estate markets, a realtors caravan provides local agents with first hand insight into homes that may interest future buyers.
Now that you know the difference between an open house, a home showing and a realtor’s caravan, you are one step closer to becoming experienced in selling your house! The next step is finding that interested buyer, and negotiating the sale of your house.
Geoff McLean is a realtor in Victoria BC who approaches his real estate vocation with honesty, integrity and straightforwardness. Geoff is also the primary author of a blog about his home city. Living in Victoria is a valuable source of information about the Greater Victoria area for those who are interested in moving to this beautiful city.