There are varying thoughts on the importance of holding an open house - some say that they are a waste of time because they never lead to sales and then there are those who think an open house is an essential step in marketing the property.
Here are some truths about open houses so that you can make up your own mind about their value:
There are 2 basic types of open houses - Broker opens and public open houses. Broker open houses are hosted by the listing agent for real estate brokers and agents in town, typically on the day of the week when brokers usually tour the neighborhood. They are usually scheduled soon after your home goes on the market, before any public open house. Broker opens provide an excellent opportunity to showcase your home to a large number of brokers who are searching for their clients - with over 80% of qualified buyers working with an agent, it's very beneficial to hold a Broker open.
Public open houses are the traditional Sunday afternoon events where buyers, neighbors and nosy Nellies alike can tour your home. With everyone so busy in their lives today, public open houses offer the convenience of viewing multiple houses in an afternoon rather than making individual appointments to see several properties in a day.
Homes are rarely sold at the open house, but there are instances where the buyer is someone who found the property through an open house. Does that mean they're not worth the effort? It all leads back to the whole 'what if' factor - it only takes one buyer to fall in love with your home and what if that just-right buyer was perusing the open house scene? You could miss out on the opportunity to find your home's ultimate buyer.
Scheduling an open house sets a deadline for getting your home ready to show, which will force you to de-clutter, clean from top to bottom, remove any odors and put everything in its right place! Once you've completed the initial home prep, you've only got to worry about upkeep thereon after.
The decision to hold an open house is ultimately up to you and your agent, but most signs point to it being time well-spent.
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