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Should You Have an Open House?

There is some disagreement as to whether an open house will actually help to sell your home. Many agents will swear by them and make it a habit to host an open house for practically every home they have listed. Others claim they have sold no more homes by hosting open houses than by showing their listings based on interest and individual appointments. It may come down to your own personal preference as a homeowner getting ready to list your home for sale. Do you wish to have an open house. Discuss the pros and cons with Doorsteps to make your final decision.

Some of the Benefits

  • You may draw in a potential buyer who otherwise wouldn’t have called an agent to view your home. Driving by and seeing an open house sign or noticing an advertisement on social media could bring in more traffic to view your home and drive up interest.
  • These open houses may feel like less pressure to make a decision on whether to buy the house. If there are multiple people looking through the home then there will be less focus on just one buyer and what they like/don’t like about the home.
  • You have time to set the scene. In some cases, you may feel a bit rushed before a potential buyer views your home, but because you hold an open house on your own time, you have as much time as necessary to set the scene properly.

The Drawbacks

  • Open houses are not known to boost the sale of your home. In some areas, an open house will get a house sold about 2% of the time. Not great numbers when you are motivated to sell. Private showings where buyers can take their time and ask questions are usually more successful for selling a home.
  • Buyers who come to an open house have probably not gone through the pre-approval process for a home loan. They may be first time home buyers who are just looking to get started on their search. Without pre-approval the process for making an offer and getting financing could take more time delaying the sale date.
  • It’s not really buyers looking through your home. At lot of the traffic during your open house may just be curious passers-by or even neighbors. Having an open house makes it easy for anyone to walk through your home without having any serious interest to buy.