The Benefits of an Open House When Selling Your Home
An open house is a popular strategy used by many sellers to showcase their homes to potential buyers and is very valuable in the marketing of a home.
There are sellers who are happy to take part in any marketing idea but there’s also a segment of sellers that don’t understand the value of having people traipse through a house on a given weekend. So why allow an open house when selling?
Six Reasons to Have an Open House When Selling Your Home
Attract potential buyers. Hosting an open house can help you reach a wider audience of potential buyers. This can be especially helpful if you’re selling in a competitive market or if you’re having trouble generating interest in your property. Yes, it may also attract curious neighbors but guess what? Your neighbors have friends who may be interested in the neighborhood.
Attract a broader audience. There are a lot of potential buyers in the market who are ready to jump when they find the right house but they’re not yet represented by an agent who can show them a house. An open house provides an opportunity for those buyers to take a tour. And before you question whether they’re really serious buyers if they don’t have an agent, let me tell you, they are! On two separate occasions I’ve sold the house I’m holding open to unrepresented buyers that came to see it.
Create a sense of urgency. An open house can create a sense of urgency among buyers by giving them a specific date and time to view the property. This can help motivate them to take action. We saw this a lot during the chaotic post-pandemic market in the Dallas Fort Worth metroplex when open houses would draw twenty plus people and there would often be lines out the door.
Showcase your home’s features. An open house allows you to showcase your home’s best features and create a positive first impression. This can be particularly important if your home has unique or desirable features that might be missed in an online listing or missed by someone quickly walking through. When I host open houses for my clients, I often have a list of updates that I share with attendees, I point out special features that may not be quickly noted {heated floors in a bathroom or decorate lighting in the kitchen}, and sometimes I even leave small notes throughout the house pointing out unique features.
More control of the viewing experience. In addition to showcasing features of a home, an open house also allows the agent to control the buyer’s viewing experience. The agent can ensure the air conditioning is keeping the house cool, all the lights are turned on, and I even like to play music and sometimes diffuse essential oils to create a better experience.
Get valuable feedback. Hosting an open house can also give you the opportunity to get immediate feedback from potential buyers. Your agent {or another representative} is standing in front of potential buyers, asking direct questions. This can help you identify any issues that might be turning buyers off and can help your agent make adjustments to the marketing strategy.
Speed up the sales process. An open house can help speed up the sales process by generating more interest. This can help you sell your home more quickly, possibly at a higher price, and may even lead to multiple offers.
Whether you love or hate an open house, the most important aspect of marketing is getting feet in the door. The more people that walk through the house, the greater your chances are of selling the house. Allowing your agent to host an open house at least once is often a great marketing strategy and can lead to a decreased number of days on market.
