November 3, 2014

Why Should You Host An Open House?

Why Should You Host An Open House

Real estate professionals commonly argue about the effectiveness of hosting and holding an open house. Although they have their valid reasons, studies have shown that if an open house is done properly, it can be a significant step on getting the property sold. If you’re the home seller, below are some reasons why having an open house is important to you.

  • It helps manage the your time. As a home seller, you certainly have other responsibilities aside from selling your home. Therefore, an open house is an excellent way to manage the time you spend on the sale of their home. For instance, your time is not wasted if you invite all buyers to come by on the weekend for house viewing rather than showing your home on a Wednesday night while you are trying to look after your kids.
  • It brings buyers to you. Although most buyers look for homes via the Internet, the good thing about an open house is that potential buyers can see the actual beauty of your home. They can walk and check the house for 5 minutes to 1 hour rather than relying on photos that are apparently not always the same on the actual visit.
  • It increases your home’s visibility. If your open house is advertised properly, you increase your home’s exposure for all potential buyers in the market. Family, friends, neighbors and even other people who see your advertisement can relay the news, which eventually leads to buyers who would be interested in buying a home. Therefore, an open house gets your home sold faster.
  • You get feedback from potential buyers. If your agent gets most of the time negative comments from those who joined your open house, then you’ll know what you need to correct or change to find a buyer for your home. Potential buyers will likely give their opinions about what’s keeping them from giving an offer.
  • You get more serious buyers. Based on a recent study, it has been shown that one of the biggest advantages of an open house is that serious buyers use mainly this process in their search for their new home. In fact, 95 percent of potential buyers purchase a home in just three months through a visit in an open house.
  • You show buyers the reasons to buy your house. An open house does not only give your agent new prospects for your home, it also gives him a chance to really show to your potential buyers why they should purchase your home. For instance, the nearby amenities like schools, malls, hospitals, parks and the like can be deciding factors for most serious buyers.

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