Much has been written about both the ups and downs of an open house, but there is a lot to be said for showing your home in this way. Here are just five reasons that an open house might result in a sale:
It gets eyes on your home. Open houses bring in potential buyers who would otherwise be too busy to book a showing. And they draw in visitors in more ways than a simple listing will. Your friends and family can mention the event to anyone they know who might be interested in taking a look at your home. Neighbors who drop by might just be angling to have someone they know move into your neighborhood. Add in advertising and signage, and you’re going to catch the eye of both casual and serious prospective buyers.
You can set the scene – your way. When prospective homebuyers stop by your home for a traditional showing, they often do it with little notice, which is why it can be stressful keeping your home “show ready” for the entire duration that it is on the market. It can be very consuming to keep wastebaskets emptied and floors free of clutter, ensure that the laundry doesn’t pile up, and make certain that floors are routinely swept and vacuumed. With an open house, you’ll be able to prepare for an event that has the potential to bring in many prospective buyers with one fell swoop. It’s much easier to do some deep cleaning that will leave your home spotless if you know exactly when people will be visiting. And you’re also able to sweeten the deal by baking cookies and setting them out or filling vases with fresh flowers.
You could lock in that interested buyer. There’s likely a limit to the number of times even the most interested buyer is willing to ask for a private showing. If your house has already caught the eye of a potential buyer, he or she might be more willing to come back for a second look in a less formal setting. An open house gives that buyer the opportunity to bring friends or family along for their opinions. And as a bonus, walking through an open house provides a visitor with plenty of time to look around without feeling rushed – during the hours that you choose.
Buyers can compare and contrast. Any given weekend usually sees several open houses in a particular location. Buyers interested in purchasing a home in your area will be able to “comparison shop” by attending several open houses – giving you the opportunity to make your home stand out from the crowd.
You choose the timing. Some weekends see a lot of open houses, while some see very few. If you are looking for a lot of bang for your buck, holding an open house has the potential to put your home on the real estate map. By working strategically with your real estate agent to schedule and organize a successful open house, you may just get a jump start on that sale!
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