Having an open house can often go a long way toward helping you sell your home, but there are some pros and cons you’ll want to consider before you plan to go this route. You can expect a lot of traffic from potential buyers and agents if the event is staged effectively, correctly and at the right time.
The goal of an open house is to bring traffic to your home from people who are looking to buy a home in your area. A seasoned agent will schedule the event shortly after your home is posted for sale to take advantage of the “new listing” status. Your realtor will post the open house date in MLS, social media and real estate websites such as zillow.com and realtor.com so that buyer’s agents and anyone who may be interested is aware of the upcoming event.
Open houses offer low-pressure opportunities for buyers to take a look. Your realtor should let people look around while being close enough to answer questions but not to overpower the potential buyers. This usually encourages buyers to think fondly of your home when they look back on the properties they’ve visited. Keep in mind, some visitors may be looking on behalf of their friends and/or family.
Your realtor will be able to talk to new potential buyers who may be coming back for a second look. This is also the opportunity to share information about the home that is not specified in the listing information. Interested buyers will connect with their agents, who will communicate with your realtor to get more information about the home and your motivation to sell.
Go above and beyond to make sure your house looks at its best while it is on the market. Your agent will guide you as to how to make your home attractive to buyers and may suggest home staging services to show your home’s best features.
It is not very common to make a sale during the open house itself. This is an event that’s more about gaining interest and getting the word out about your home rather than necessarily finding a buyer that day. Of course, you never know what could happen!