Benefits of an Open House
March 5, 2024
What is An Open House?
An open house provides potential homebuyers with an informal opportunity to view a home and decide if they would like to plan a private showing. It is common for the seller’s agent to schedule an open house for a 1- to 3-hour period on a weekend afternoon immediately after the home has been listed. This gives viewers more time to view the home than they would have in a one-on-one setting with their agent. Those interested in seeing the home may choose to visit with a real estate agent or on their own, as the events are typically open to the public.
The goal of an open house is to increase awareness of the property and to pique the interest of prospective buyers. Attendees tend to provide helpful feedback while viewing the home, which the real estate agent can pass along to the seller. For example, if visitors point out a feature they do not like, such as the color of paint on the walls, the seller can make adjustments before more people begin to look at the home in a one-on-one setting.
Promoting an Open House
An experienced and savvy real estate agent should know the best methods for spreading the word about an open house, using resources such as multiple listing service (MLS), advertisements, real estate apps and websites, social media, and physical signs to draw attention to the home. Updating the listing is an important place to start, as it should help you maintain a spot near the top of the list on local listing services. Social media is a great promotional tool because it allows you and your agent to share photos and videos and reach a network of people who may be interested in the home.
The look of the home is also important when promoting an open house. The house should be clean and uncluttered so potential buyers can appreciate the design and structure of the home, rather than focusing on items that are unique to the homeowner. The home should have a pleasant, neutral smell as well. Use fragrance-free cleaners and avoid strong perfumes. Light snacks and refreshments, such as fresh-baked cookies and soft drinks, are helpful to put out during the open house, as they help create an inviting atmosphere.
Pros of An Open House
There are several advantages to hosting an open house after listing your home for sale, especially if there are aspects of your home that set it apart from others in the surrounding area.
- Show the home to many people at once: It can be inconvenient to constantly leave the home during one-on-one visits.
- Gain feedback: Your agent can gain insight on which features guests like and dislike.
- Increase awareness: If more people know the home is for sale, the chances of selling it are likely greater.
- More time to prepare: You have more time to stage an open house than a one-on-one visit.
Cons of An Open House
While there are many advantages to hosting an open house, there are also a few drawbacks to consider before deciding if the showing will help you sell your home.
- Unqualified buyers: Generally, anyone can attend an open house, so some attendees may not be serious buyers.
- Security issues: Individuals can view your home with little supervision.
- Hard work: You will need to put in the time to clean and stage the home and make it feel welcoming.
- Intimidating for some buyers: Many individuals prefer to view homes in a one-on-one setting with their agent and may find it distracting to look at a home with others.
Should You Have an Open House?
Not every home is an ideal candidate for an open house. If you are selling a home in an area with many similar houses on the market, then it may not be necessary to host an open house. However, if your home possesses certain external or internal features that set it apart from those in the surrounding area, it could be advantageous to open the home to a larger group of potential buyers. Additionally, if your house is set in a desirable or unique area with high demand, then you may receive more competitive offers from buyers.