Open House Sign

Open Houses – Are They Necessary Or Not?

Open House SignWhen you decide to sell your home you have to face facts – you are going to have to endure a degree of inconvenience if you want to get the best price. You will probably have it staged – so you will be living in a somewhat artificial environment for a while. You will also have to vacate your home when an agent has arranged to show it to his buyers

And when you have Open Houses you have to disappear for a few hours at a time so that total strangers can walk through it without interacting with you. That is probably an aspect of selling your home that you won’t be looking forward to!

Let me say quite clearly that having an Open House every weekend is not an essential part of selling a home. They do serve a very valid purpose though, particularly in the first couple of weeks a home is on the market.

The First Weekend On The Market

The maximum amount of interest will be shown in your home for the first few days it is on the market. Buyers who have seen everything are eagerly awaiting new listings in their price range.

If you don’t have an Open House that first weekend, you will undoubtedly have a number of showings which could mean you have to leave your home multiple times while agents bring their buyers through. That isn’t a problem if the home is vacant but it can be real pain otherwise, particularly if you have kids.

So for that reason alone, I always recommend that my sellers have an Open House the first Sunday the home is on the market. Certainly you will get a number of people (including neighbors) who are just coming to look at your home out of interest. But you will also get real buyers who may very well decide to write an offer if your home looks right to them. Personally, I also like to hold my own listings Open on the first Open House so I can get a good feeling as to what opinion people have regarding price and desirability etc.

The Second Weekend

I find that an Open House on the second weekend a home is for sale is generally a good idea also. Some buyers are slow to notice a new listing and others will have been out-of-town for the first weekend or may not have been able to fit the first Open House into their schedule. The aim is to make it easy for as many people to see your home as possible.

Subsequent Open Houses

If your home is priced right and is in a fast-moving price range, I would hope that we have a sale agreed after 10 days or so but if not, I don’t really think additional Open Houses are essential. If it is easy for you to leave your home for a few hours on a Sunday afternoon, then certainly, have an Open House by all means, but otherwise, the inconvenience is probably not worth it. Genuine buyers should have no problem getting their agents to make appointments to show the home at that point.

Who Should Host Your Open House

From my perspective, I always like to host the first Open House myself but after that, I really don’t think it matters so long as it is an experienced agent that I know and trust. And of course I always make sure that any agent who hosts any of my listings is familiar with all of its selling points.

Many listing agents want to personally hold their listings open at every opportunity, usually because it gives them an opportunity to meet potential buyers – not buyers for your home, necessarily, just buyers they would hope to represent in a future transaction.

Agents who work with buyers are always looking for Open House opportunities so they can meet new potential clients, even though their first aim is always to sell your home.

 

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