04 Jan 2017

ALL ABOUT OPEN HOUSE IN REAL ESTATE

Open house in Abbotsford by pervinder khangura realtor is Abbotsford city of BC , Canada

What is an Open House?

An open house is just as it sounds. In the real estate world, it’s an open invitation to potential buyers to come and have a look at the house for sale without making any appointment on the scheduled day.

The realtor puts an open house sign in front of the house for sale so people walking or driving by can come in and make an offer on the house on the spot if they like the house. An open house is not an auction but potential buyers can bid on the house and if the seller likes any one of the offers, he/she may accept it.

Abbotsford real estate agent pervinder khangura

 

Who can do an open house?

A realtor or the owner can do an open house by advertising it in the local newspaper, radio or by distributing flyers in the neighborhood. A realtor may be better in doing an open house than the owner as he/she is a professional, and he/she has better access to real estate marketing tools than the owner. Anyway, there is no rule in who can do an open house as long as the goal is achieved by getting the house sold.

( Advice: Hire a local realtor. Trust me, you will save in the long term by paying him commission )

 

open house in city of abbotsford by pervinder khangura real estate agent

 

How is an open house done?

Real estate agent or the owner will advertise the day and time when potential buyers can come and walk freely in the house. Potential buyers may bring their own realtor with them, who can advise them on pricing the house. A real estate agent may have an advantage over an average homeowner in advertising open house as he/she has access to MLS®, which gives them the ability to reach a higher number of potential buyers. There are some free sites like homeZfinder.com and Zillow which give people access to advertising their open house free of charge. On the scheduled day of the open house, the realtor will install open house arrow signs at the intersections of the main roads close to the house and put an open house sign in the front of the house with balloons to attract potential buyers driving or walking by.

Some real estate agents do a Mega open house by delivering open house flyers door to door and talking to people in the neighborhood by telling them amenities of the house. They will also advertise aggressively on local radio, TV, and the newspaper about the time and attraction of the open house beforehand and create a buzz in the city about the house. Flyer distribution in the neighbourhood gives a great advantage as a local resident may know someone, like their friend or a relative interested in buying in the area.

Abbotsford real estate agent pervinder khangura

 

What is there for a realtor in open house?

First off, The realtor makes a commission if he/she sells the house. Secondly, the more important thing is he/she may get a future client by collecting his/her information by asking them questions about the open house and requesting them to give feedback about the house thus knowing about their taste, the kind of house they are looking for?

If the realtor happens to know the kind of house they are looking for he/she may sell them the house they like.Third, the realtor will get the phone number or email of the clients in the open house to market his/her services to them.

Abbotsford real estate agent pervinder khangura

 

What are the benefits of an open house?

The biggest benefit of doing an open house is the ability to show the house to a large number of potential clients together. Open house is an invitation for potential buyers to walk in the house without an appointment.

Open house makes showings easy instead of booking a showing individually. In case the house is a rental there can be a problem showing because of a bylaw, the tenant has to be notified 24 hours before booking a showing. In some cases, tenants make it difficult to show the house as they are worried about moving out after the sale of the house.

Home showings by appointments are difficult during the holiday season or on a weekend. Weekends are when everybody wants to book appointments as they are off work. Weekends are also the days when kids might want to wake up late, or guest visits, or various other reasons.

The most difficult part for an individual showing is the need to clean the house before the showing. It’s cumbersome especially if the seller has smaller children. Open house is the day when you only clean the house once and show it to the larger crowd.

The open house gives an opportunity to the seller to sell a home at a higher price as there might possibly be multiple offers on the house as an open house has a tendency to create a bidding war situation when the market is going up or it’s a seller’s market. The bidding situation can arise because potential buyers at the open house don’t want to lose the house at any cost.

abbotsford real estate agent

What is the best day to do an open house?

The best day to do an open house is on weekends because people are off work and gone shopping and they may then see an open house sign and may possibly be interested to see the house. There appear to be some investors who watch the market and attend each open house on the weekend as they’re off work. Some people want to see the house to compare it with their own house and get a good idea of decorating their home.

expert real estate agent abbotsford bc canada

 

Preparation to do an open house?

Preparing your house for an open house is important to make it attractive to potential buyers so they make an offer. On the day of the open house make sure everything is tidy and clean. Put stuff away, clean the yard and if needed spend money on house stagers. They may cost you a few thousand dollars, but it’s worth it. Home stagers can make your house look perfect as they are professionals and know all the latest trends in home decoration.

Sometimes the realtor or homeowner may offer snacks and coffee to the buyers to get their attention on the amenities of the house.

Another important step is that sellers must keep all their valuables locked up in a safe or somewhere secret as the realtor may not be able to watch all of the clients attending the open house. Although it’s very unlikely for someone to steal something, you never know who is visiting because everyone is welcome to the house.

abbotsford real estate agent pervinder khangura

 

Buyer comes with an own realtor or not?

Some clients come to an open house without their own realtor. This is a big disadvantage for them as dealing directly with a listing agent may not give them any agency so they are not protected in case something happens during or after the deal.

At the end, the open house has more benefits than the drawbacks.

28 Dec 2016

Homes around Kalgidhar gurdwara sahib are fairly new. Most The home are not more than 20-25 years old and well kept. 90% of the homes are owner-occupied. Homes around gurudwara sahib are a mix of two stories, Three stories, Few Townhomes complex.

gurdwara kalgidhar darbar abbotsfordThis is one of the best neighborhood to live in Abbotsford and mix community dominating by Punjabi people.

The major roads near Gurdwara sahib Kalgidhar darbar are Blueridge Dr, Blue Jay St, Goldfinch st and MT Lehman rd. There is Commercial cum residential building near Gurdwara sahib Kalgidhar darbar called Connaught place located at 30505 Blueridge Drive, Abbotsford BC. This building is pet-friendly and rental are allowed.

connaught place 30505 blueridge dr abbotsford bc

21 Dec 2016

How to Cash In On Your Land Properties in Abbotsford


Abbotsford farms for sale

Investing in real estate in Abbotsford is a worthwhile option as it is one of the best real estate markets in all of British Columbia. Due to its good performance, people are taking full benefit of the opportunity as every smart person should. However, these conditions of real estate in Abbotsford are not limited to townhouses, condos, and apartments only. As a matter of fact, all the lands for sale in Abbotsford are equally in demand. But then, a common perplexity is felt among the neophyte land buyers who, at the end of the day, are only owners of lands instead of being great investors. That can change.

If you have happened to buy a vast land for sale in Abbotsford, here is a list of things you can do with it:

  • Begin Construction:

Over the last couple of years, Abbotsford has grown in every aspect. The job opportunities are better here, the education system has improved, life is easy and the views are absolutely breathtaking. However, the thing to take note of is the gradual increase in the number of townhouses and beautiful condos and apartments here. All these interesting dynamics have begun to direct a steady and constant flow of people towards Abbotsford, the end result of which is an increased demand for houses. Therefore, if you have cash in hand and are willing to use this opportunity for gaining experience and some profit in the construction and real estate industry, begin constructing on your land. Your house will sell in no time if the current market conditions prevail.

  • Grow Something:

It is no secret that Abbotsford has a fertile land fit for conducting agricultural activities. The city is easily among the most productive lands in Canada; in fact, the agriculture sector of the city has shown continuous improvement and growth over the years and there is no lack of agricultural opportunities here. So, the next best thing you can do with your land here is to grow something on it. You can grow crops and have it transferred to urban markets through any of the excellent transportation routes built around the city. You can even grow your own field of Christmas trees!

  • Rent It:

For those who only take land buying as a frivolous activity and are busier in their actual professional life can simply rent the land out. There are several people who are more than happy to strike a deal with you and you’ll be the recipient of a constant income each month.

  • Livestock:

When a piece of land is located in the heart of a farming community, it would be extremely unwise not to take advantage of the opportunity and use it for raising livestock. With proper care and proficient methods of raising cattle, landowners can use them to make good money.

  • Rent a Cabin:

A cabin provides an extraordinary experience of staying in a distinct place, and landowners can be the ones to provide this splendid experience to guests. Building small cabins on a large property might cost some cash, but the return is a lot more than you might think.

Better start looking for lands for sale in Abbotsford and start cashing in on it almost immediately. It would be a decision you will never regret.

Written by Pervinder Khangura @homezfinder