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Health & Fitness

Summer Open Houses

The real estate industry rarely sticks to a 9:00-5:00 schedule. Buyers, sellers and brokers search the web, make inquiries, meet with brokers, submit offers and look at homes nights, weekends and holidays. This is simply the nature of the business. As a rule, however, those associated with real estate; typically see a brief respite during the summer months. Normally, buyers and sellers take a conscious break from their home search or home selling process to regroup, enjoy summer weather and partake in outdoors activities during New England’s abbreviated season.  As a result sales agents, following their customers’ lead, enjoy a lighter load and gear up for the historically busy fall market.

This summer is not the norm. With three consecutive quarters of impressive real estate sales and a recent spike in mortgage rates – there will be very little respite for those looking to buy, sell or broker real estate deals in July and August. Market trends, low inventory and unrestricted buyers virtually guarantee that this summer real estate season will remain competitive.  Real estate, this summer, presents a variety of new challenges unique to the season – specifically, hosting a successful open house.

As a rule, open houses die down during the summer months. Potential buyers head to the beach on weekends, rendering the typical mid-afternoon Sunday open house relatively ineffective. In light of these changing trends, summer sellers are now considering “commuter” open houses or Saturday open houses.  Commuter open houses, held weekday evenings between 5 and 7PM, create an opportunity for potential buyers to view a home after work, rather than break up their weekend. Weekday, after-work events have seen moderate success – and offer homebuyers the perfect excuse to check out target properties and perhaps discuss the home’s virtues over dinner or drinks. Saturday open houses are also on the rise. By staging open houses on Saturdays, homebuyers, sellers and brokers can now spend the last of the weekend enjoying time with family and friends rather than prepping their home for visitors or touring homes.

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With sales increasing, inventory incredibly low and mortgage rates rising, committed buyers will remain focused on sealing the deal before Labor Day. Buyers, sellers and brokers that re-think their open house strategies this summer will ensure more hot prospects, while simultaneously enjoying summer’s rare pleasures. 

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