Open Houses
Are Open Houses Worth It?
In principle yes – it can be difficult to maximize the sale price of your home without showing it to potential buyers. However, not every approach to open houses are`
equal. There is a good way and a bad way to go about showing your home.
The norm for many home sellers is giving up their weekends for as long as it takes to sell their home. This also means weeks or months of having strangers periodically walk through your home to judge it.
The 72SOLD method is far less intrusive and labor intensive and requires a much smaller time commitment from the home seller. The aggressive marketing strategy utilized by 72SOLD coupled with a single, limited time showing generates a sense of urgency for home shoppers while also greatly minimizing the stress for home sellers.
Arguments For Open Houses
Visibility: Open houses increase the visibility of the home in the market. Anyone can walk in, which can attract potential buyers who might not have initially considered the property.
Creates a Sense of Urgency: Seeing other potential buyers can create a sense of competition among visitors. Compressing all visits into a single showing increases the chance buyers will see each other. This urgency might push someone to make an offer sooner than they otherwise would have.
Immediate Feedback: Sellers and agents can get direct feedback from visitors about the pricing, home layout and other features. This can be useful if the house isn't receiving offers – the feedback can guide necessary changes.
Convenience: By setting a specific time and date, sellers can prepare for multiple showings all at once instead of numerous individual appointments.
Broadens the Net: Casual home-seekers, who may not yet be ready to book private showings, can drop by an open house on a whim. Some of these visitors might be more serious than anticipated and can end up being potential buyers.
Arguments Against Open Houses
Security Concerns: Open houses can attract individuals with ill intentions. There have been reports of thefts during open houses, as it's challenging to monitor everyone, especially in larger homes.
Low Success Rate: Some agents believe the chances of finding a buyer at an open house are relatively low. Often, the attendees are curious neighbors or those casually browsing rather than serious buyers. By eschewing yard signs and other wide-net approaches to home advertising, 72SOLD is able to reach interested home shoppers rather than curious home browsers.
Inconvenience: Getting a home ready for an open house can be a labor-intensive process. Cleaning, reorganizing and in some cases even redecorating forces homeowners to sacrifice their limited free time just to impress someone who will be in their home for 15 or 20 minutes.
Potential for Damage: With many people walking through, there's a risk of something getting damaged or stained, even if by accident.
Less Qualified Buyers: Open houses can attract individuals who are not pre-qualified for a mortgage, leading to wasted time if they make an offer but cannot secure financing. One of the things real estate agents can do is narrowly advertise open houses to those who are ready to put in an offer.
Privacy: An open house inevitably feels like a violation of one’s privacy, even when you understand the necessity of the viewing.
The 72SOLD Approach to Showings
If you’re interested in selling your home but aren’t enamored with the idea of weeks of open houses and showings, it may be in your best interest to contact 72SOLD. Many real estate companies allow the buyer’s agent to schedule visits – meaning someone who isn’t representing you is the one showing potential buyers your house. An open house can be far more effective when the agent representing the seller is the one running the open house for potential buyers.
If you want to learn about the 72SOLD strategy and how it can help limit the disruption of open houses, get in touch with our team.
