Selling

May 8, 2024

Benefits of Having an Open House

Are you listing your home for sale and wondering if it’s worth it to have an open house or not? To start, an open house is a marketing tool that increases the exposure of your property and gives buyers the opportunity to ask questions about your home. You may be thinking that open houses have too much foot traffic or your neighbours may use it as an excuse to come take a look at your home. However, on the road to selling as quickly as possible, the more traffic the better and open houses are a great way to achieve that goal. If you’re getting ready to sell your home, here are a few reasons to consider saying yes to an open house.

 

Gives People an Extra Chance to see Your Home

Open houses give people a longer chunk of time on the weekend, when most people are off work, to come view the home. If a buyer is coming from out of town, or is really busy, an open house can offer a convenient way to see multiple homes in one day. One of the most important groups of people that could come through an open house is a buyer who saw the house with their agent prior to the open house and came back for a second look. That second look opportunity could be enough for the buyers to be confident in offering on your home.

 

Show off the Home and Neighbourhood

No matter how good the pictures are, nothing beats getting people into the home. When potential buyers have a chance to visit a home in person, it is a lot easier for them to experience the function and uniqueness of the home.

As for the neighbourhood, most often during a weekday showing buyers are in and out, and don’t get a chance to get a good feel for it. An open house gives them a chance to come to your property and take time to evaluate the neighbourhood. Make sure you tell your agent about all your favourite local spots so that they can direct potential buyers to them, which can help them picture themselves living in the neighbourhood.

 

Could Push your Sale Price up

You’ll probably never see a direct impact on the sale price when holding an open house, but it can help get you more offers on your property. If you’re selling and you get three offers on your home without an open house, it’s very possible a fourth offer would come after having an open house. More offers can push the sale price up, especially if multiple offers are close in price and buyers are given a chance to improve their offer. Many buyers will attend an open house just to see how much interest there is in the property, which can create a sense of urgency to make an offer before someone else does.

 

The Market is Slow, is an Open House Worth it?

Open houses are especially popular when the market is busy, particularly in the spring and fall, but you can still find them at any time of year. Don’t be put off by a slower market, or a low number of showings during the week prior to the open house. Even in a slower season an open house has incredible value. Buyers that attend open houses have most likely already started their search and are serious buyers; only a very small amount of people start their home search with an open house.

 

I hope this information has given you a good idea on how an open house can truly be valuable when selling your home. If you’re still on the fence or want to chat about how an open house would work for your home, feel free to reach out.I’m always here for a chat!