Any real estate agent would agree that hosting an open house if one is selling a house is a tried and tested way of attracting prospective home buyers. It is popular so much so that it has turned into an age-old tradition. But is it viable as an effective marketing tool even with the advancement of internet and telecommunication technology?
Though an open house tends to get people to the house on sale, it could also turn out to be a hassle for many homeowners. Many homeowners these days seek out for a quick solution to sell my house fast for cash, having an open house can lead them to their ideal deal.
Thus, it is imperative that you weigh on both negative as well as the positive side of an open house.
Cons For an Open House
–Low Probability of Sale: If we look into the stats, only a small percentage of homes that go through the process of an open house convert into sales. Here, just a real estate agent gains exposure to potential customers. In this case, consider private home viewing.
–Security Concerns: Since open houses are open for all, you never know who is passing through that door. An open house makes your home vulnerable to criminal gangs and gives them the opportunity to explore it without suspicion. Break-ins and vandalism are an unfortunate reality that does follow an open house. Its chances can increase if you are selling a vacant home.
–Excessive Stress: With the housing market so competitive these days, first impressions have become more critical than ever. Hosting an open house only adds to the trouble. Moreover, holding an open house for the same home over and over again will get you far from the buyer.
Pros for an Open House
–Open to All: Hosting an open house might not just get your prospective buyers. Agents and brokers offering we buy houses Virginia services could also come to you with pieces of advice and suggestions.
—Additional Exposure: For a real estate agent, it is their responsibility to provide maximum exposure to seller’s house. An open house does the same. Promotional advertisements on TV, newspaper, radio, the internet can attract more prospective buyers.
–Actual Browsing: Even though the internet is one of the fastest ways to finding a home, nothing can take over the edge an open house provides. Home buyers prefer seeing the home on their own. Moreover, most buyers consider not making an appointment before they are ready to buy a house. They can tap on the opportunity to see the house in person.
–Convenience: Open houses offer a place for a potential buyer to drop in, even from the street.
The whole process of buying a house can be strange and too much to grow through for most people. Things like open houses encourage these homebuyers who do not know about the home acquisition to buy a house.
Planning an open house on the weekend can provide extra convenience to the sellers as well as the prospective home buyers. You can give a few hours in the day for the buyers to look around your house.