Real estate Open House
Worthwhile for a Seller?

To say the least, opinion regarding the real estate open house is divided.

Some REALTORS® hold them often, obviously because they've enjoyed some success with them. They're a great way for an agent to placate a frustrated seller (who may have over-priced their home), and possibly meet prospective buyers. And a listing REALTOR® might even sell that listing in the process.

Maybe

It's a cost effective way for your REALTOR® to introduce themselves to buyers. Some visitors may already be established with their own REALTOR®, who has suggested their buyer clients visit open houses and call them when they find a home of interest. But other visitors may not yet be connected with a real estate agent. And if the real estate open house shopper doesn't care for that particular property on open house, depending upon how they relate with your agent, they may be inclined to hire the attending agent to assist them in their home search.

So, the ...

Substantial Time Investment

... sitting in your living room may not be totally wasted. You win because your home was exposed to the buying public, plus the REALTOR® got the chance to meet prospects without necessarily having to spend some of their limited advertising budget on newspaper ads trying to generate buyers.

Some REALTORS® avoid real estate open houses like the plague. They consider them a waste of valuable time. They justify this position by saying that visitors to open houses are usually just nosy neighbours or decor idea shoppers. And if they are serious buyers, your property won't be affordable for them because people usually want more than they can afford. Hard to argue with that point.

Or they claim that most buyers are already under contract with another brokerage. Hence, the agent wouldn't have an opportunity to develop a new client. They don't consider an open house as part of their marketing effort for their seller client - just a chance for them to personally meet new buyers. Wrong attitude.

So, are open houses worthwhile for a seller?

What's to Lose?

... except some of your listing REALTOR'S® time. Just ensure that your REALTOR® properly manages the visitors. Losing control results in too many people wandering throughout the house - unattended.

Think About Security

Would you allow a stranger to walk unattended everywhere inside your home? They could conceivably snoop through your closets, cabinets and drawers. Or worse - steal from you.

Also, too many visitors milling about your home means missed opportunities for your REALTOR® to effectively connect with prospective buyers. So, the results of the open house are less than stellar. How could one agent in a large home possibly show the property persuasively? They couldn't promote all the features, benefits and improvements to numerous parties meandering aimlessly. It's simply not possible.

Some Homes Are Suitable

... for a real estate open house, and some are not.

If your home is a showplace, then it's possible an open home could be successful. Once buyer prospects see your sharp home up close and personal, the chances of them submitting an offer, through your REALTOR® or their own, are very good, provided, of course, your home is priced right.

However, if your home is ...

Plain, Tired or Rough

... then real estate open houses are probably not for you. In such a case, the benefit of holding a real estate open house belongs solely with the REALTOR®. But holding a successful open home on this type of property is unlikely anyway if the front exterior isn't sharp enough to attract visitors inside. It's a classic example of people judging a book by its cover. And they'll judge the inside to be in the same condition as the outside.

I advise you to discuss the prospects of a real estate open house with your own REALTOR®. Or if you don't have one, and you're in my market area, contact me to arrange a no-obligation consultation.

To learn a little from a buyer's perspective about the real estate open house, click here.

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