The Pros and Cons of Holding an Open House
Today I’ll go over open houses and the pros and cons that come with them.
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The practice of holding open houses has been a customary part of the real estate process for as long as I’ve been in the business and it dates back much further.
Before getting into the good and bad aspects of open houses, let’s first think about their origin: Why did they first come about? Open houses first came into being as a way for buyers to view properties, and specifically the home’s interior, without an agent. But times have certainly changed: With the advent of the internet, buyers can now see any number of photos, videos, and 3D tours of the home.
That begs the question: What are the advantages of having an open house? Do they remain a feasible way to show a home? We believe so.
But before we go into the pros of hosting an open house, we’d like to broach the cons:
They rarely result in the sale of your home.
They can lead to security concerns. Though we’ve never had a problem with this, when you consider the logistics, it’s not hard to see the security risks it poses: only one agent showing your home and many people passing through. Because of this, we tell our clients to remove valuables like prescriptions, checkbooks, etc.
Now, for the pros of open houses:
They allow buyers to see your home in person without a Realtor. No amount of photos, videos, or virtual tours of your home can replace that feeling a buyer gets when they step into your home and see it for themselves. A buyer that walks through your home without having already been swayed one way or the other by an agent bodes well for you as the seller.
Open houses help you cast a wider net. The more in-person showings you can do, the better your chances of a satisfactory sale.
Even with all the digital marketing tools we use, we still believe in the tried-and-true method of holding open houses as well.
We’d love to discuss the pros and cons of open houses with you on a more personal level. Call or email us today for any of your real estate needs. We look forward to talking to you soon!