Open House Pros and Cons for Selling Real Estate
If you have a house that you’re thinking about selling I’m sure you are going to ask your Realtor if they do open houses. Here I’m going to talk about the pro’s and cons of having an open house done in your private home. I know so many people like the idea of an open house and they can really be beneficial, but they can also be a bad thing.
This isn’t really an easy thing to say but we all like the idea of having a lot of potential buyers coming into your home, right? Maybe it will spark interest or maybe it will make to potential buyers write a higher offer, so they don’t lose the home. These things can happen. Let’s talk about the things people don’t ever think of. When you have an OPEN HOUSE, that is just it. Your house is Open to the public to come and see. You don’t know if they’re serious buyers, just sightseeing or maybe they have other intentions even. Another bad thing, if you have 2 or 3 group of people in a house you can’t contain them all into one area. Which means you have possibly an unapproved buyer walking through your home doing whatever they’re doing. Things can and do come up missing at times. You also don’t know if the person is casing out the area of seeing what valuables are in the home.
Who really benefits the most from an Open House? The Realtor! I’ll give you an example. A lot of the time potential buyers go to a house to check it out and get an idea. If they’re not currently working with a Realtor, then that person can potentially become a client of the Realtor hosting the open house. In my experience in the Northwest Indiana Market very few if any people that attend the open house buy that house. But those potential buyers will buy another house. In this case it’s a marketing tool for the Realtor to get another potential client. Now if you’re selling a Vacant home or a New construction property that is a completely different story. Especially in HOT new Subdivisions, you’ll get a lot of people going through the neighborhood just checking it out. They’ll walk through the open house and for most builders if they don’t buy that home, they’ll buy another one if they like the quality of the build. You may also be able to make a few small changes and work out a deal on that home.
To me as a Realtor they’re good if they’re Vacant or New Construction homes but not if it’s one you live in. Really, they’re marketing tools for Realtors to potentially get more clients. If you do want one, you’re in Personal home I’d put all your personal and valuable possessions away and out of sight.