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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.

The little details matter when it comes to selling your home. You’ve likely heard of the significant steps: declutter, paint, and clean. But some less obvious tasks can help your home sell quickly.

1.    To Sell Your Home Quickly, Don’t Forget the Power of a Nice Front Door

Potential buyers pay extra attention to details, starting immediately when they pull up to the curb. Make an excellent first impression by combing over everything on your front steps or porch to make it look fresh and inviting.

Here are some ideas of things to pay attention to.

• Clean or replace your mailbox.
• Fix squeaky screen doors.
• Clean cobwebs off the lights, trellis, or porch railings.
• Give your front door a coat of paint to make it look like new.

You can also take the time to pressure wash your vinyl siding, your garage door and floor, or your roof.

2.    Depersonalize Your Home When Selling to Give Potential Buyers a Clean Slate

If your walls and mantles are covered with family photos and other sentimental items, pack them up before showings. It might feel foreign and sterile to you, but a neutral environment can help buyers imagine their own things in the house.

3.    Remove Features That You Plan to Keep When You Sell the House

Are you planning on bringing your window coverings, light fixtures, or appliances with you when you move? Consider removing them and replacing them with temporary fillers instead. The potential buyer may be swayed by a feature that you don’t plan on leaving behind. The best way to manage expectations is by showing only what you’re open to parting with.

4.    Open the Curtains and Blinds Before a Home Showing to Let all the Natural Light In

No one likes a dark, dreary space. If you open all the blinds, you make the area appear larger and more inviting. If your walls are dark, this is especially important if you can’t paint before viewings. Dark walls make the room appear smaller, so by keeping the windows uncovered, you can counteract those effects.

Bottom Line

First impressions are everything. If you want potential buyers to fall in love with your home like you did, you have to step inside their shoes and make sure you polish all the details.

Purchasing a home is a substantial financial investment. You’ll want to go into the process with questions you want to ask and the information you gather. When looking to buy your home, it’s some of the most exciting and nerve-wracking processes, but the benefits are worth it.

Looking at houses and browsing home décor magazines is fun. But some of the most commonly asked questions are about the financial side. Here are some of the most asked questions regarding home buying.

1.    Am I Ready to Buy a Home?

Some things to consider before you shop for a home are, of course, your finances. Most lenders have hoops for you to jump through, so it’s vital to ask yourself some questions.

• Is my current income steady for the foreseeable future?
• Do I have any long-term outstanding debts, like a car payment or loans?
• Do I have a good history when it comes to paying bills?
• Have I saved for a down payment?
• Can I afford mortgage payments, taxes, insurance, and utilities?

These factors come into play when seeking a mortgage and looking for a house. You should be aware of the status of these questions when you start the home buying process.

2.    How Much Do I Need for a Down Payment?

Saving for a down payment can take some time and feel like a huge hurdle when shopping for your first home. Mortgage lenders expect a down payment of somewhere between 5% to 20%.

The amount you will need for your down payment will depend on the lender’s requirements and the length of your mortgage.

The most reliable way to save for a down payment is to make a budget plan and focus on the end goal. Slowly but surely, you’ll get where you need to be.

3.    Does My Credit Score Affect Home Buying?

A credit score is a powerful number. It acts as a snapshot into your lending history by numerically calculating your financial standing based on how diligently you pay back your credit. Mortgage lenders use your credit score to determine your mortgage amount and what interest rate you’ll receive.

Having a low score doesn’t mean that buying a home is impossible, but it may take longer to get a loan. Lenders may urge you to try and raise your score by paying off any damaging debt before approving you for a loan.

Bottom Line

There are endless questions to ask when you’re looking for a home, and your real estate professional is there to help guide you to the right sources to answer them. Contact Sarasota Realty to jump into your first home buying experience!