Hosting an open house has long been established as a method to sell a home for those with, and without, a seller’s agent. Have you considered if it’s a good option for you?
This traditional method of marketing a home has pros and cons, just like anything else. Before you or your agent decide to host an open house, take into consideration all of the ways it could benefit or interfere with your goals.
Some sellers might consider open houses to be too stressful, especially if they’re in the process of searching for a new homefor themselves. Others are keen on the idea of potentially connecting with buyers who might not have otherwise been aware of their home’s presence on the market.
Make sure to evaluate the following pros and cons to decide if an open house is the best fit for you.
No Appointment Needed
Potential buyers who are searching for a home might already be feeling a lot of pressure from the process, especially if they have a deadline to get out of their current lease or if they’ve sold they home they’re living in. Open houses are just that—open. This format doesn’t require that buyers or their agents set up a viewing appointment with the seller, which allows for much more flexibility during and already busy time.
In addition to not needing an appointment, open houses are a lot less formal overall than a scheduled showing. This makes potential buyers more comfortable because they don’t feel pressured to make a decision on the spot. There is usually more than one buyer looking at the same time during an open house, so the seller or seller’s agent aren’t focusing all their attention on one buyer. This is positive for buyers who just want to take in the home’s features at their own pace and decide if it’s worthy of making an offer.
Scheduling an appointment with a seller and making arrangements for a private viewing takes a lot of time and effort for both sides. If a buyer has just started the home search process and is researching what kind of home is best for them, they want to check out multiple listings before making a final decision. Open houses are great tools for attracting a bigger pool of potential buyers like this, and a bigger audience in general. You never know if your home’s next owner could be driving around the neighborhood on a whim, see your open house sign, and decide they’re ready to make an offer. The possibilities are endless!
It’s undeniable that open houses can draw in people who aren’t serious about buying a home, but are rather looking for some entertainment on the weekend. It’s also a possibility that the people touring your home are just looking for renovation or decoration ideas for their own home. These people can be difficult to identify, because they most likely aren’t going to tell you “I’m only here for the cookies.” Just keep in mind that for every window shopper who invites themselves inside, there are several real buyers who are serious about finding a new home.
While you would hope that each person who tours your home during an open house is respectful of your personal belongings, there’s always a chance that letting strangers in can result in some kind of theft. Make sure any valuable jewelry is hidden in a secure place, and that no bills or paperwork with personal information are in plain view. Secure any electronics in a locked cabinet or similar location. It’s important to keep your mind at ease during the home selling process, so protecting your valuables is one way to add to your peace of mind.
Potentially no Return on Investment
Open houses take time and effort to put together. And just because you put out the call for buyers doesn’t mean that they (or anyone) will come. It can be discouraging if the right buyer doesn’t appear during the open house, and even more discouraging if you or your agent wait for several hours for anyone at all to show up. But you never know what the outcome will be if you don’t take the risk!
Keep in mind this information when deciding if an open house is a tool you want to use to sell your home. If you need an opinion, The Adler Home Team can help determine what’s best for you!
About the Adler Home Team
When looking to buy or sell in Northern New Jersey, you may rely on The Adler Home Team and their intimate knowledge of the distinct communities throughout the region.Jeff & Debby Adler continue to lead with contribution and have served over 1,100 families in their 20 year experience in Northern New Jersey. Through their combined efforts, this team of eleven professionals is very diligent in serving a full array of clients from first time buyers to those seeking their expertise in Residential, Condos, Townhomes,Luxury, New Construction,Relocation, Short Sales, Foreclosures and Rental Properties.By accessing the very best in technology, current market data and creative marketing applications, The Adler Home Team takes every measure to ensure that their clients are educated and provided with the critical insights that meet their specific requirements. They teach, lecture and train at the national level on negotiation skills, marketing and team building. The Adler Home Team is most proud and thankful for their strong referral business that confirms their talents, creativity, professionalism, diligence, knowledge, and outstanding integrity. The Adlers look forward to forming a partnership with their clients to help them reach their goals and make smart business decisions. So, when it comes time for you, a friend, or a family member to make a move, trust the Adler Home Team to win for you. Google View all posts by The Adler Home Team →
Author:Jeff Adler Phone: 201-819-3309 Dated: September 28th 2015 Views: 171 About Jeff: When looking to buy or sell in Northern New Jersey, you can rely on The Adler Home Team and their in...
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