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I am going to let you in on a little industry secret – real estate agents don’t hold open houses to sell YOUR home, they do it to get in front of NEW buyers!

However, nearly half (48%) of buyers use visiting open houses as a key part of their home search!
So, if we are going to sell your house – an open house might be an essential part of the process. Open houses aren’t just about browsing for buyers—they’re about making connections and finding the one! Here’s a list of pros and cons for deciding if holding an open house is right for you:

Pros:

  • Easier to mass market one open house event
  • Convenient for sellers to show a lot of people in a short window Buyers feel comfortable browsing at their own pace
  • Other industry professionals are invited to share with their clients

Cons:

  • Security concerns
  • Lookie loos just wanting to see your home
  • Open houses do not equal home sale
  • No way to ensure buyers touring are financially qualified

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As your local real estate agent, it is my job to be constantly monitoring trends, changes, and predictions so that I am prepared to guide you when the time comes to make your move. We are in the final quarter of 2024, and while I expect things won’t stray too far from where they have been so far in 2024, here are three things I see being the forefront of real estate trends in Detroit and surrounding for the rest of the year:

1. As the cooler months approach, the market tends to experience a slight dip in activity. You may notice fewer listings, more price drops, and a slower pace as people focus on the holidays.

2. Limited inventory has been an ongoing issue, and this trend is likely to persist through the fall. Buyers may face competition, especially for well-priced and move-in-ready homes.

3. With fewer buyers in the market during the fall and early winter, sellers may be more open to negotiating their price lower or more flexibility on repairs.

What happens in Q4 could dictate your move in 2025. Let’s chat now to avoid having a hard conversation later! What’s your plan?

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