I've recently had some interesting conversations about sellers and open houses. Although for years many were told that Open Houses are the way to sell a home, the times are changing.
At every listing presentation we chat about hosting an open house. I'm always happy to host one as it means more exposure for your home potentially and for me. I honestly meet lots of great folks looking for a home that I end up assisting after meeting them at an open house. However, it is often not the home I am hosting.
Why? Because folks often view open houses out of curiosity. It may not be the right price point, style or they may not yet be ready to buy a home. Many visitors are neighbours just curious to see your home. When I greet those visiting my open house at the door I always ask if the visitors saw the listing online or the signs. I keep a tally and it lets me know how many were looking at the home in particular or just out to see what was available to view that day.
Folks often start their purchase process by checking out open houses to find out what their money can buy and what property costs in various areas. Online listings take people so far and then it is time to see homes in person. I've also met quite a few visitors that see open houses as a fun Saturday afternoon activity.
Can open houses allow people to see a home they may have not otherwise chosen to view and end up in a sale? Absolutely. It's just not the main path to sales success. Qualified buyers that are seriously looking to purchase are most often working with a Realtor and will book individual showings.
Pros of Hosting an Open House:
- additional visitors and exposure for your home
- many folks viewing at once to drum up excitement
- opportunity to chat with buyers about the home
Cons of Hosting an Open House
- security regarding theft or potential theft
- security regarding privacy
- nosy neighbours
Will I happily host an open house for you? Absolutely. But I always ask that you please lock your valuables and private items away. Understand that there is a balance between pros and cons and make a decision based on your personal risk tolerance. At the end of the day, I have the same goal as my sellers. Obtain maximum exposure for a given property while respecting their safety, security and privacy.