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I agree with Marc Swartz, CPA, CA, Real Estate Broker.
Hot areas can handle that short turn-around time for an open house. Also, I've done the 'reverse prospect' via our MLS and notified agents with matching buyers that they could stop by on their own if they wished.
The answer to your question can be found in your own research.
Market research IS one of the five specific purposes for which to have an open house. Let the attendees answer this question based on one of the question being, 'How did you find out about this open house?"
The outcome will vary based on the situation of the house.
Good Friday morning Martin. The Nashville area is an extremely hot market and property sell quickly!
It's a very hot market in my area and many houses sell extremely quickly within a couple of days on market, often with multiple offers.
Perhaps they did some of that work prior to placing in the MLS with the sellers written permission. I've done that.
i think when you hold a open depends on the market for sure. and sometimes a open means that something is wrong with it. if you hold it early, then no one can accuse you of having something wrong with it. i love to contact the local brokers of a coming soon and try to have it never hit the mls. but... that doesnt always work. and limits the buying pool, but i would rather sell it and be on to the next one.
In our seller's market, I like to see our fresh inventory have showings starting at the first open house on the first Sunday after listing.... it's in MLS and buyers with their agents have had time to drive by and investigate data several days before seeing the interior.... and just listed postcards go our immediately along with online marketing for the open house.....works well...
in our hot sellers market many agents have showings begin at the weekend open house. Not in accordance with our mls rules; however they do it anyway.
People check all the open house sites daily here so doing an open house the day it's in the MLS will bring out crowds. We don't have to do rate sheets or mailings etc.
Good morning Martin. For the homes we flip, it takes us a week to prepare for an open house, once the home is completely ready to show.