Open houses are sometimes an opportunity to get eyes on your home. In some cases, they are great, in others, they aren't. Either way, here are some of the pros and cons of having one.
Open houses aren't just for potential buyers. Often, open houses bring in brokers. Brokers and realtors like to see what is available for their clients. An open house is an easy way for a realtor to come in, check out a property, and go through their list of buyers that might be looking for something particular. They can save their clients time by vetting houses for them. Sometimes buyers give up hope when they look at house after house and don't find one that fits their needs. They eventually stop looking. Now it is up to that realtor to keep an eye out for the perfect home. Your open house might be that home. That realtor might walk out of your open house, call a client, and say, "I found the house you have been looking for."
Another advantage of an open house is exposure. When you have an open house, it is listed in multiple locations and heavily marketed. The more exposure for your home, the better off you are. People need to see it, to know they want to SEE it. Social media is the place to see it!
Open houses also attract buyers. When someone sees an open house sign, they feel instantly invited and often stop without hesitation. Every once in a while, an open house can turn a looker into a buyer. They might see the potential in your home and decide now IS the time to buy. They might also know someone who is looking, and decide to stop in and see yours…just to know if it fits the bill!
Open houses tend to attract nosey neighbors that want to compare your home to theirs. Keep in mind, though, that neighbor might see your house and know someone they like that is looking…that friend COULD be their new neighbor if your home impresses! So, once in a blue moon, this negative becomes positive.
An obvious con to an open house is the work for the homeowner. Open houses don't usually bring in the person who buys your house. You have spent all day cleaning and preparing for an open house, that doesn't sell your home. It is hard to get your hopes up to just be let down later.
Probably the biggest con of an open house is security. If your open house brings a ton of people through the door, it can get difficult managing so many people. This doesn't happen often, but it is possible to get people who wander away from the crowd. Naturally, sticky fingers are always a risk. This can be prevented by ensuring all of your valuables and medications are locked away somewhere safe during an open house.
If I am your realtor and you want an open house, I will be more than happy to do one for you. If you don't want one, we won't do one. With that said, if you ask me if you think we should do one, I am going to be honest with you...because every situation is different. Rest assured, I want to sell your North Texas house just as bad as you do, if doing an open house is going to benefit you, I will be the FIRST person to suggest it!
Call me! 469-585-7591
Your Top DFW Realtor - Brenda Debus