Are Open Houses Beneficial When Selling a Home?
It is smart practice to expose a home you are selling to as many people as possible. Putting a home on the market by retaining a real estate agent or doing it yourself by advertising on the internet are options. Either of these methods can be augmented by allowing potential buyers the opportunity to preview the home by having an open house and allowing people to tour the home. Experienced realtors have claimed that 20% of their home sales are through an open house. Since it takes time to prepare for and plan, there are also realtors who choose to avoid holding an open house. Sometimes, a realtor’s avoidance of holding an open house may be appropriate. When choosing a realtor with whom to list your property, inquire as to the realtor’s open house policy.
Reasons Realtors Do Not Hold Open Houses
- It is a time-consuming event. The agent must be at the open house and if they are selling multiple homes, being in one place may not work.
- The home is in an isolated area where potential buyers may not be driving through.
- A neighborhood with cookie cutter homes. If the home being presented looks too much like the others, the open house may not be as successful.
- The home does not show well or is messy or cramped.
- The home is difficult to locate.
How to Hold a Successful Open House
- Descriptive online advertising can be very successful since you will reach a broad audience of people looking for a home.
- Create open house signs. Attach balloons to each open house sign and place them on busy intersections closest to the open house and on the corner of the home.
- Signs should be placed every few blocks until the buyers end up at the home for sale. These signs should have arrows pointing buyers in the right direction.
- Remove all vehicles from the driveway, and it is a good idea to ask neighbors to not park in front of the open house.
- Let light into the home by opening blinds and window coverings.
- Be careful with spices when cooking, spraying air freshener or using perfume since people can be put off by or allergic to synthetic odors.
- In addition to letting the light in from outside, turn on every light in the house. Do not turn on fans or exhausts that produce noise.
- Soft music can be turned on to set a relaxing tone.
- Colored flyers containing quality photos and reasons a buyer will want to purchase the home and flyers containing financing options for buyers to determine their monthly mortgage payment quickly should be readily available.
- Offer light refreshments and snacks.
- Set out all pertinent documents. Inspection reports, appraisals and comps, significant repairs and warranties can also be displayed for easy accessibility.
- And, be upbeat as you greet each potential buyer as you show them how the home can fit their needs.
Always absolutely ask for feedback. Learning what each buyer thought of the home and what they like or did not like can help with future potential buyers. Do not take a buyer’s opinion of the home personally. Different people prefer, want, and need different things. In the event an offer is not made at the open house, do not be discouraged. A buyer may be thinking it over still, or you may sell it at the next one. It only takes one right buyer to sell your home!
With over 50 years experience as an attorney, Richard S. Weinstein assists clients with the important financial situations in their lives. Whether you are dealing with bankruptcy, real estate (both commercial and residential, including short sales, foreclosures, and title insurance), estate planning, probate, business formations, or sales or mergers, Richard S. Weinstein is the attorney with the education, experience, and knowledge you need! Call us at (561) 745-3040 or visit his website at rweinsteinlaw.com.
Law Office of Richard S. Weinstein, P.A.
250 S. Central Blvd. #101
Jupiter, FL 33458
Phone: (561) 745-3040
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