While perhaps not as relevant as they used to be, open houses are still a useful tool in getting your home sold, provided you do it the right way.
Are open houses really effective in our marketplace? The answer isn’t as simple as “yes” or “no.” As a seller, open houses offer both advantages and disadvantages.
7% of all homes nationwide are sold during an open house. That’s not a very big statistic, so you’re unlikely to run into the person who will end up buying your home at an open house.
That being said, they do provide a way to reach buyers who aren’t tech-savvy and don’t start their home searches online. They’re also a great way for agents to vet anyone coming through the door and make sure they’re genuinely interested in your property. Additionally, they act as a low-pressure option for buyers to view a home without feeling pressured from their agent to make a decision.
One of the primary disadvantages of an open house is you get displaced for a couple hours, which invites the potential for theft. Since you have no control over who comes through the house, it’s important you have an agent who will be diligent about keeping an eye on those who attend.
When holding an open house, there are a few key points to remember.
The most important part of the process is to spread awareness of your open house. Your agent should spread the word via social media, the Internet, the MLS, and as many other networking categories as possible.
You should have your open house in logical places, too. Obviously, if your home is a rural property, you won’t get as much traffic. On the inside, hide anything you don’t want people to see (including valuables such as jewelry, medication, etc.) and declutter so buyers can envision themselves living there and get a feel for its layout.
If you have any questions about open houses or you’re interested in buying or selling a home, don’t hesitate to reach out to us. We’d be happy to help you.