Below are some data and tips to help you pitch local media on REALTOR® open house events. You can use this information as “media hooks” when speaking with local media or incorporate it into press releases and news articles.
Open House Data
The following statistics come from NAR’s 2014 Profile of Home Buyers and Sellers.
- In 2014, 44 percent of all buyers used an open house as a source in their home search process.
- Repeat buyers are more likely to find their home from an open house than first-time buyers and repeat buyers use open houses more frequently.
- Buyers with a median income between $175,000 and $199,000 are more likely to find their home through an open house compared to those in other income brackets.
- Fifty-one percent of buyers between the ages of 45 and 54 utilized open houses, more than in any other age group.
- Open houses are popular for buyers in most age groups. In fact, 46 percent of buyers age 25 to 44 use open houses in their search for a new home. Additionally, 45 percent of buyers age 45 to 64 and 44 percent of those 65 and over utilize open houses in their home searches. Younger buyers typically utilize open houses less in their home search, as only 23 percent reported doing so.
- Buyers in the Northeast and West are more likely to find a home through an open house compared to those in other regions.
- Buyers of new homes use open houses much more frequently than do buyers of previously owned homes.
- Married couples and unmarried couples are more likely to walk through open houses than single buyers. Also, married couples were more likely to visit open houses as a first step in the home buying process.
- Buyers whose primary language in the home is not English are more likely to use open houses—44% of buyers whose primary language is English use open houses, compared to 58% who use a language other than English in the home. Similarly, buyers who were not born in the U.S. are more likely to use open houses as a search tool—43% of those who were born in the U.S. use open houses compared to 58% of those who were not born in the U.S.
Tips for pitching:
- Offer your President or spokesperson for an interview about what buyers in your area are looking for or to elaborate on how open houses benefit both buyers and sellers.
- Suggest a recent homeowner who found their home by visiting an open house as an interview source.
Home Feature Preferences Data
The following data comes from NAR’s 2013 Profile of Buyers’ Home Feature Preferences. The report examines the features buyers prefer when it comes to purchasing a home, as well as the differences when it comes to factors such as region, demographics and household composition. The survey captures buyers who purchased a home between 2010 and 2012.
- The typical recently purchased home was 1,860 square feet and was built in 1996.
- The typical buyer purchased a home with three bedrooms and two full bathrooms. Slightly over half of the homes purchased were on a single level.
- More than three-fourth – 78 percent – of all buyers purchased a home with a garage and 41 percent of homes purchased had a basement.
- Among all 33 home features in the survey, central air conditioning was the most important to the most buyers; 65 percent of buyers considered this feature very important. The next most important feature was a walk-in closet in the master bedroom; 39 percent of buyers considered this feature very important.
- Buyers placed the highest dollar value on certain features including waterfront properties and homes that were less than five years old.
- Buyers are also willing to pay more for homes with specific rooms such as a basement and an in-law suite.
- The two most common rooms buyers were willing to spend more for were a laundry room and a den/study/home office/library.
- Although 97 percent of recent buyers were satisfied with their home purchase, most homeowners still said they would like more closet and storage space. In addition, nearly half of recent buyers would prefer a larger kitchen.
Tips for pitching:
- Have your President or spokesperson discuss what features buyers in your local area prefer.
- Elaborate on specific features sellers can highlight to attract potential buyers.
- Have a local TV station tour an open house with one of your members or spokespeople while highlighting preferred features.