It is not uncommon to see home sellers and real estate agents debating the benefits of an open house. While some sellers believe that an open house is the best way to embark on a home sale; others have a different opinion.
You’ll find that some real estate agents organize them as a gateway to achieving sales while others never hold them or only hold them occasionally. Because of this, the question lingers, if you are selling your home, should you have an open house? Below is a list of pros and cons to help you decide.
➕ Pro – Open Houses Accommodate Everyone
An open house does a wonderful job of accommodating the needs of a broad range of potential buyers, but it also gives real estate agents and brokers a chance to see the property and present it to their clients. Because open houses can be held at various times, it’s easier for a buyer to make time on their schedule to attend.
➖ Con – Security Concerns
Some sellers have concerns when it comes to security issues that lead to break-ins and vandalism after an open house. If the house is vacant at the time of the open house, there may be a greater risk of this happening.
There are some real estate agents who will not hold an open house because they don’t want to risk having someone take something of value. While this is a valid concern, there are precautions that can limit the risk of such things happenings.
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➕ Pro – Create Additional Interest
During an open house the buyers have a chance to ask important questions directly or through their real estate agent. The answers they receive may make them more comfortable placing an offer to purchase the home.
Proper home staging goes hand in hand with open houses. Building curb appeal can make the home more appealing to buyers and have them wanting to see what’s on the inside. An open house gives them the perfect opportunity.
➖ Con – Low Percentage Sold
Some real estate agents believe that the chance of getting an offer from an open house is small, which is why they are reluctant to plan and hold one without assistance from the seller. Of course, you may find another real estate agent who has great success with offers from open houses, and you shouldn’t discount the location impact on that decision.
While a serious home buyer who is interested in your property will ask for a private showing, an open house can still serve the purpose of pulling in additional buyers who didn’t know your home was a match for their needs. It’s a good idea to ask your real estate agent what works best for your home.
🤔 Should you have an open house?
It’s a good idea to weigh the advantages against the disadvantages of an open house when trying to decide if one would work for your home. We can help you decide if an open house should be part of your marketing plan.