Some real estate professionals stand by open houses as a solid marketing tool, but technology has changed how we buy and sell homes. Holding an open house is a long-standing sales approach. Like anything, there are benefits and negatives to holding an open house – but are the rewards worth it?
What Are the Pros of an Open House?
In-Person Browsing
Online listings can be a powerful sales tool. With professional photographs and sometimes videographers, you can explore new homes without having to go anywhere. But there are some things you can’t capture virtually. It’s still valuable for buyers to browse without the commitment of a viewing appointment.
Open to Everyone
Buyers are not the only ones who might be looking at your home, but brokers who can help sell your home. They have access to the buyer community and can help spread the word about your listing.
What Are the Cons of an Open House?
Security Problems
When homes are crowded with more than one potential buyer, it’s impossible to keep an eye on everyone. Almost anyone can walk through the door undetected and steal or vandalize your home. If you have anything of value, it can be a target for thieves, and you likely won’t realize what happened until it’s too late to do anything about it.
Not Guaranteed a Sale
The quantity of attendees doesn’t mean that a serious buyer will be among them. Holding an open house can have little impact on the sale of your home. The people who come through may not be qualified to buy, and booking a viewing appointment is a more significant show of commitment. By booking a viewing in advance, your realtor can ensure that they are appropriately vetted and see homes within their budget.
Bottom Line
An open house is not a sure-fire way to get offers. In the past, it might have been a great sales tactic, but with the right realtor, you can get great success in your sale without having to open up your home to everyone.
