Benefits of Having an Open House
Updated: Jan 25
Purchasing and selling real estate may be a lengthy and exhausting process. Here's what you need to know before having an open house.
Sellers grow dissatisfied with having to keep their homes clean and tidy, as well as scheduling viewings around their schedules. Buyers, on the other hand, may be dissatisfied with offers made on houses they have yet to see.
Then there's the agent's communication; setting viewing appointments might be another source of stress.
Conducting open house viewings is a fantastic method to solve these issues. They might be intimidating for both buyers and sellers, but here are the advantages to consider before dismissing the concept:
Potential buyers who would otherwise be too casual, lazy, or uninterested to schedule a showing attend open houses. They also attract visitors in more ways than a conventional listing. Your friends and family can tell anyone they know who might be interested in seeing your house about the event. Dropping by neighbors could be trying to get someone they know to relocate into your community. When you add in advertising and signs, you'll capture the attention of both casual and serious potential buyers.
Prospective homebuyers often drop by your house for a traditional showing with little notice, which is why keeping your home "show perfect" for the whole time it is on the market can be difficult. Keeping wastebaskets empty and floors free of debris, ensuring that laundry does not pile up, and sweeping and vacuuming floors on a regular basis can be time-consuming. With an open house, you'll be able to plan for an event that could draw in a large number of potential buyers in one fell swoop. If you know when visitors will be arriving, it will be much easier to undertake some deep cleaning that will leave your home pristine. You can sweeten the offer even more by preparing cookies and placing them on the table, or by filling vases with fresh flowers and cuttings.
Even the most enthusiastic buyer is likely to have a limit on how many times he or she will request a private viewing. If a possible buyer has already expressed interest in your home, he or she may be more willing to return for a second look in a less formal situation. An open house allows a buyer to bring friends or family along to give their feedback. Furthermore, walking through an open house allows a visitor to take their time and look around without feeling rushed.
While a picture is worth a thousand words, seeing a home in person is unrivaled. Open houses allow you to present your home in its finest light. When you hire a professional stager, your home instantly looks better. Hire a staging firm that brings in furniture to make it a hassle-free staging experience. The goal is to create a bold, yet versatile area that allows potential buyers to picture themselves living in your house.
Lookers are less self-conscious when there are numerous prospective buyers in your home at the same time. Your agent can engage in an informal conversation with visitors and their agents while providing low-key tours. In scheduled home viewings, where buyers only have a small window to view a home, this easygoing mood is uncommon.
On any given weekend, there are generally multiple open houses in one place. Buyers looking to buy a property in your region will be able to “compare shop” by visiting many open houses, providing you the opportunity to differentiate your home from the competition.
A faster sale is generally the result of more eyes on your home in a short period of time. An open house lets you bypass weeks of individual showings in favor of a one-day event that maximizes the number of people who see your home. Pay for the housekeeping once, stage your home once, and get your house ready to sell as soon as possible.
On some weekends, there are a lot of open houses, while on others, there are very few. If you want to get a lot of bang for your money, hosting an open house could help you put your house on the market. You might just get a head start on that transaction if you work strategically with your real estate agent to plan and manage a successful open house.
Introduce your good neighbors to potential purchasers if you have any. Most individuals who are looking for a home realize that they are purchasing more than just a property; they are also purchasing a neighborhood and a community. If you've fallen in love with your neighbors, an open house may cause potential buyers to fall in love with them as well.
Buyers are usually just as interested in learning about the neighborhood amenities as they are in learning about the house itself, and an open house gives you the chance to share a list of the "greatest neighborhood hits," such as restaurant menus, grocery stores, daycare centers, and information on local schools. A printed takeaway with all of this information for open house attendees gives that added touch.