If you’re thinking about skipping the open house when selling your home, you may want to think again. An open house is one of the single most useful tools in getting a home to sell quickly and for a good price. Why? Well, there are a few reasons, but it mostly just boils down to sentiment.
Imagine you’re on the other side of things: You’re a couple, looking for a new house. You hear about an open house nearby, and you’re eager to make a day of it with your spouse – almost like a date. It doesn’t really matter which house it is on the street, what matters is the activity of walking through a home together, pointing out things you like, really imagining what it would be like if it was your home. At the end of the day, provided there were no major issues, you won’t be able to help it – you’ll be a tiny bit more attached to that home than to any of the ones you looked at online, because you’ve created a memory to associate with it.
Now, imagine that, while you have your open house, more than one buyer feels this way – now you have more interest in your house, more awareness, and a more competitive pool of possible bidders, which can only be good for you.
Now, you may be nervous about the prospect of an open house while a pandemic is still going on, but you don’t need to be. There are plenty of rules and measures in place, put there in late spring and early summer as things began to open up again, to keep you, your family, and any prospective buyers safe – and the best part is, you barely have to worry about deciphering those rules, because a Realtor like myself will be able to tell you everything you need to know and clearly instruct you on how to keep your house clean and safe.
If you’re still not sold on the concept of an open house, any realtor would, of course, understand, but you should at least seriously consider it if you’re having trouble drumming up adequate offers. Let my fellow Realtor Shad Elia explain in a little more detail why an open house is so good for your bottom line.
Why You Need An Open House
by Shad Elia
Many sellers see an open house as unnecessary. Some sellers might panic at the thought of having an unknown number of strangers in their homes, while others might sigh at the thought of having to clean the entire home to prepare for the open house.
However, that’s understandable since open houses aren’t as common as they used to be. With most markets being seller’s markets, it even begs the question: Given the competition among buyers, do sellers really need to go out of their way to have an open house at all?
The short answer would be yes. Hosting an open house when you sell your home is worth it, especially if you’re selling your property in a competitive market.
An open house can be a seller’s best weapon. Not only does an open house give a home much-needed attention, but it also brings potential buyers directly to your doorstep.
In competitive markets, it’s more important that you consider hosting an open house. If you’re preparing to sell your home, here’s why you need an open house.
1. An Open House Sets Your Home Apart From The Rest
While having great listing photos can make prospective buyers interested in your property, that doesn’t mean that they’ll give you an offer for your home immediately. Nothing beats checking out the house in person and seeing if it’s a good fit for them and their family.
Once you’re done staging your home, you’re almost ready to host an open house. An open house allows buyers to imagine themselves living in your home. If they like what they see, you’re already a step ahead of other sellers in the market who’ve chosen not to host an open house.
2. Open House = Lower Marketing Cost
Since you’ll be entertaining multiple prospective buyers at the same time, more eyes will be on your home in a short amount of time. This can often lead to a faster sale, as buyers might feel the need to give you an offer as fast as they can.
An open house will allow you to entertain multiple buyers in one day, instead of going through weeks of individual showings. The one-day event saves you time and money since you will only have to prepare for one open house as opposed to multiple individual showings.
3. Meet-and-Greet with The Neighbors
Another benefit of hosting an open house is allowing prospective buyers to meet your neighbors, especially if they’re good neighbors. Most buyers in the market are not just looking for a house, they’re looking for a home in a neighborhood that they’ll feel safe in.
Serious buyers will appreciate getting the chance to meet your neighbors for themselves. If they can imagine themselves in your home, getting to know who they’ll be living next to might just be what they need before they extend an offer.
4. Open House Word of Mouth
A common complaint about open houses is that they tend to attract browsers as well, instead of just serious buyers. If you look at the bright side, getting more eyes on your property will mean getting the opportunity to spread the word — for free.
Even if someone who only wants to see the property comes in, entertain them the same way you entertain serious buyers. Although they might not be interested in buying your home, they could recommend your house to someone they know who is in the market to buy a home.
5. Share Tidbits About The Neighborhood
Serious buyers will always be interested in learning about the neighborhood, not just the house itself. They will want to know about what amenities are in the neighborhood, and an open house allows you to share what you like the most about the neighborhood.
You can tell them about the grocery stores, daycare centers, and schools in the area. Details such as how far away from the house those are will also be highly appreciated. Additionally, preparing a printed copy for open house attendees to bring home with them can leave them with a positive recollection of your home.
Although open houses have been getting more uncommon, they can still be a seller’s best tool. Not only does hosting an open house give your home the exposure it needs, it even brings potential buyers to your doorstep. It also saves you time and money, so what’s not to like? If you’d like to arrange an open house, or even just look at your selling options, please don’t hesitate to reach out by phone or email – I ‘d be happy to help you in the process of selling your home and moving on to a new dream!
