Holding an open house might help you sell your home, but it is not the most important factor to consider. An open house is usually not the major marketing tool that agents rely on when they are trying to sell property. In fact, most agents no longer consider holding an open house a viable option. Many agents feel that having an open house might get a lead or two, but not potential buyers.
And yet, a number of homeowners and real estate agents continue the traditional practice of open houses, still firm in the belief that it will lure even a few prospective clients. Studies on the effectiveness of open houses have shown that it takes the agent and homeowner at least 65-75 hours of work to hold the opening, before a deal is ever closed. A lot of time, effort, and fuss goes into the preparation for an open house event, and yet some people still choose to go through the process for all sorts of reasons.
But your agent may not be as eager as you are to sell your house, so they won’t make it a priority. They may also have to deal with other listings, and they may not show your property to a prospective buyer because they don’t believe it is suitable for them. Buyers have also been know to change their minds, and most of the time they do it without telling the agent. But some buyers still believe in buying a house on their own, and when they do, it usually happens in an open house. If a buyer doesn’t think the details in the listing are what they’re looking for, they usually won’t take the time to call for an appointment to see the house. Open houses are different. Open houses give people a chance to see a house without having to make a commitment, so people are more likely to view the property.
Homeowners often question if the cost of arranging for an open house – and the time spent on the event – is worth it. And it’s typical for sellers to gripe about their real estate agents, complaining that the agents are using the open house as a vehicle for bringing in new clients, not prospective buyers for the house itself. Sellers also have the very legitimate concern for the safety of their home and possessions during an open house event. They fear that some of their belongings could be stolen during the open house, or that the house may be vandalized at a later date by someone who attended the event. For some homeowners, opening their house to strangers is just a bad idea. Some sellers are only willing to open their house to buyers who have demonstrated a genuine interest in buying, hoping to discourage nosy neighbors from dropping by, and any potential thieves from taking advantage of the situation. The choice is up to you, but remember that sometimes not having an open house is the best thing for both the real estate agent and the homeowner.
Here’s a bit of advice: when the real estate market is hot and houses are selling well, an open house simply isn’t necessary. And if you are posting photos of your house online in hopes of attracting buyers, again, why have an open house?
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