An open house is an invitation for potential buyers to drop by anytime over the course of a specified day, to check out the property, potentially interact with the Realtor and of course get more information.
Sometimes my clients come to me for advice on whether they should consider having an open house, and if an open house is even necessary to sell their home?
There is no easy answer to that question, as the decision to hold an open house should be considered from the perspective of the advantages the event would provide versus the potential disadvantages. Some of the advantages of an open house include:
- It might help you to get more money for your home, if the open house generates enough interest you could potentially get simultaneous offers which could drive up the price.
- It can showcase the features of your property that may not come across as well in advertisements and listing descriptions.
- It allows the seller to really utilize the freshly cleaned home by having more than one showing that day, and it frees up their schedule to attend to other things in the meantime.
- It generates a buzz and publicity about your listing.
- It gives people an opportunity to view the home in a casual environment, on their own schedule without having to commit to a one on one appointment
As for the disadvantages…..Planning and hosting an open house event isn’t as easy as it sounds. There’s a lot of preparation, time, effort and energy involved in putting together an open house. In addition, you run the risk of not having the anticipated foot traffic if the listing isn’t advertised correctly. In addition, there is the potential that unqualified individuals may come through, which again doesn’t help your home sell. So make sure you’ve really considered the pro’s and con’s before deciding if hosting an open house is for you!
Call my office today to find out how an open house can benefit your family!