Selling a House
Do Open Houses Work?
Do Open Houses Work? If you're selling a home, with or without a realtor, you might wornder do open houses work? Well, if an Open House works all...
The Open House- Is it worth it?
Open houses can be a real wast of time, or they can really drive up demand from potential buyers. We explain when and when not to hold an open house.
Madison Clifton
Sep 16, 2018
It’s time to sell your home, and you decide to hold an open house. You de-clutter, make the house shine from top to bottom, put out signs and balloons, let friends and family know on Instagram, and provide delicious snacks. Then, one of two scenarios plays out:
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1. Nobody shows up.
Well, except the three, shall we say “curious” lookers who either have been dying to see the inside of your home, or un-qualified buyers, show up. In this scenario, it’s waste of time for you and ONLY the agent benefits from it. Many agents will agree that open houses allow them to meet potential or future clients. People who visit your home who are not represented by a real estate agent are fair game, in the eyes of your agent. It gives them the right to show prospective clients properties other than yours.
Be wary of open houses. They do not help with marketing your home in a time where it can be found online with the few clicks of a button. They can help drive up demand if you know your home is priced to sell, and there are ready and willing buyers in your market (see scenario 2).
2. Your home is flooded with ready buyers and their agents, prepared to make offers.
This is a likely scenario in today’s low inventory market – IF your home is priced right, and shows well. In this scenario demand for your home is driven up when one ready buyer sees other ready buyers smiling and admiring the your home at the same time they are. Even better, these scenarios can create multiple offers situations that ultimately benefit you.
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Only an experienced agent can give you a realistic picture of what’s going to happen… scenario 1, or scenario 2. The agents that partner with Transactly can do exactly that. Unselfish and transparent, they are willing to lay it all out there. They provide seasoned advice based on their experience in your market. They are willing to provide full transparency at every step of your home sale through our platform.