Open houses are just a part of selling a home. At least they used to be. With the growth of the internet and all of the options it provides to show your home, the hassles of an open house may be a thing of the past.
We’ve put together a list of 5 reasons why you should skip the open house if you’re putting your home on the market.
Open houses are a great opportunity to show off your home, and your stereo, and your television, and your laptop. Sure, most of the people who come to your showing are going to be looking at your molding, but some of them may be looking at your deadbolts.
If your open house is successful, then there will be too many people to keep an eye on at all times. This provides an excellent opportunity for thieves to walk right into your home and put together a shopping list.
An open house can be an unnecessary risk to you property and your family. Consider the risks and rewards before deciding on what’s best for you.
Inevitably, many of the prospective buyers going through your home at an open house are going to be your neighbors, just hoping to get a peek. Since they already live in the area, they’re probably not there to buy.
They may just be hoping to get some good interior design tips from you, or they may be interested in home improvement ideas. What’s more likely is that they’re hoping to find something to gossip about.
The easiest solution to this problem is to not give them the opportunity in the first place. Posting a virtual open house on the internet can keep nosy neighbors out of your business while still showing off your home to prospective buyers.
If anyone does want a closer look, an appointment can be scheduled for a one-on-one tour.
Selling your home can be expensive enough. Don’t add to the cost!
Open houses can be an investment in both time and money that you may not have.
Running the air conditioning or heater all day while people continually move in and out of your home can add significantly to your utilities bill. If your A/C or heater is a bit older or already in need of some repairs, this might just push it over the edge.
Providing drinks and snacks to your guests is only polite, but these costs can add up. If you host a successful open house, you might see dozens or (hopefully) hundreds of people over the course of the day. That’s a lot of coffee and canapes.
Before an open house, you’re going to need to spend a few days cleaning, or you’re going to need to hire professionals to make sure the job gets done right. This can cost you hundreds of dollars or days of work.
You’re Only Helping the Real Estate Agent
Every potential buyer who comes through your open house is a new contact for your real estate agent. Don’t help them pad their contact list at your expense.
Real estate agents care about selling houses, not about selling your house. Over 50% of agents who hold open houses do it only for the prospective clients.
Buyers aren’t being helped by an open house, they can see everything online or schedule an appointment. Sellers aren’t being helped either. As you’ll see in the next section, open houses don’t result in sales.
The only winner from an open house is the real estate agent, who is there to meet new clients.
Open Houses Don’t Work
The National Association of Realtors asked home buyers where they first learned about the homes they bought, the top three answers were 1) the internet, 2) real estate agents, and 3) yard signs.
Open Houses didn’t even make the list.
If an open house isn’t introducing your home to buyers, then what’s the point in the open house?
Serious buyers can make appointments to see your home, which eliminates the risks and costs discussed above, and is more convenient for the seller.
People who are only curious can check out your listing or your virtual tour if you’ve posted one online.
Open houses aren’t driving sales, it’s as simple as that.
If you’re selling your home, and are trying to decide whether or not to host an open house, these five reasons will hopefully give you something to think about before you make up your mind.
Selling a home can be a complicated process, and not everyone has your best interests at heart. Sometimes it can be easier to skip the hassles and deal with us.
We’ll make you a cash offer for your home within 24 hours, and we can close in as little as a week. Contact us or call us today to learn more!