We’ve all heard the horror stories. A visitor at your open house slips away upstairs only to be caught rifling through the jewelry. As many benefits come from hosting open houses, there’s also some risks to consider. In this article we’ll break down both the good and the bad of open houses to help you decide what is best for you and your home.
There’s no arguing that it’s inconvenient to have to leave your home for a few hours. And on top of this, without proper advertising, it’s highly unlikely any potential buyers will find your home and open house simply by driving by. You’ll often get a lot of nosy-neighbors peeking about, as well as folks just there for a look with no interest in actually making an offer. And no matter how low the odds of this actually happening, there is a small chance you may have criminals searching the place for valuables. It’s also arguable the effectiveness of open houses in this modern age. Before the time of the internet constantly at your fingertips, and convenient apps, people actually had to go out on the hunt. Open houses could pull in a lot of viewers and were a highly successful business tactic. But nowadays with the ability to view homes in immense detail all within an app, the necessity of open houses has all but plummeted.
Despite all the possible cons of modern day open houses, there’s still many reasons you may still want to consider hosting an open house! Interestingly enough, the apps that created less of a need for open houses are also a big factor in the traffic still driven into the homes! In most real estate apps, the times and dates of open houses are listed plainly to see. Often times potential buyers will specifically look for homes with ongoing open houses and make a list to hit up! And of course the arguably most useful purpose of open houses is that they are a fantastic place for agents to find new buyers clients!
If you are debating whether or not you should host an open house, have a discussion with your agent. Figure out your specific area and market and what has a history of working well there. Ultimately, whether an open house is the right choice is an entirely case by case thing. It may be that your home could have a wildly successful open house in your neighborhood, or it would serve you better just to do private showings. At the end of the day, you and your agent can make an informed decision on what’s best for you.