For Sellers: Pros & Cons of Open Houses

Open houses have been an effective selling tool in the real estate market for many years. But with the convenience of modern digital virtual tours, a seller can choose to forgo the traditional “in person” open house altogether. CENTURY 21 North East offers sellers a comprehensive virtual home-selling process that includes virtual home marketing for online tours. This can also include live online open house events if you choose. An open house, while sometimes valuable, is not necessary for selling your home. Here are some open house tips for sellers to consider before hosting an event online or in person. 

Pros 

People: The open house will attract a variety of people. That is sometimes a great thing, depending on your local market. Every person is a potential lead. It is best to treat everyone with courtesy and respect at an open house. Even the tiresome lookie-loo may have a co-worker or relative who is in the market for a home. 

Relaxed Viewing: Open houses attract pre-qualified buyers who can casually view your home without the pressure of a formal private showing. The online pictures and video may have slightly stirred their interest, though not enough to make an appointment for a showing. Buyers can attend a handful of open houses in a single day. The relaxed in person viewing of your home may very well open the door to a formal offer. 

Cons 

Unqualified Buyers: The open house will attract interested buyers, but they might not be able to afford your home. You and your agent want to spend time with potential buyers who have been pre-approved for a mortgage. Your seller’s agent from CENTURY 21 North East can help by screening buyers and setting up private showings without hosting an open house. Your time, and your agent’s time, might be better spent working with potential buyers who can truly afford your home. 

People: The open house will attract a variety of people. That’s great…or is it? Your open house will attract nosy neighbors, people just passing by, lookie-loos (an open house hobbyist), other sellers, and future home buyers (who aren’t ready or can’t afford to buy quite yet). This traffic of people will tour your home, enjoy the charcuterie and cookies, track in dirt, and distract you and your agent from qualified and interested buyers. 

Security: Unfortunately open houses allow people to peruse your home and belongings with little supervision. Theft and vandalism are a risk. Potential burglars can make use of an open house to prepare for a later theft by identifying valuables and unlocking windows. They can return later to burglarize your home. 

While open houses may seem old-fashioned and outdated in the digital age they can sometimes prove to be a valuable tool in selling your home. Your seller’s agent from CENTURY 21 North East is your real estate expert with the knowledge to efficiently market and sell your home. We look forward to helping you market and sell your home in Connecticut, Maine, Massachusetts, New Hampshire, and Rhode Island. Contact us today!