There is quite a bit of debate out there over whether or not holding an open house can help you sell your home. When held properly, they can provide a few benefits to the home sale process, like increasing awareness and bringing people into your home where they may just fall in love with it. However, there are also a few drawbacks to consider when deciding whether or not to incorporate an open house into your selling process.
The fact of the matter is that the majority of the people who are willing, able, and ready to buy a new home will make an appointment to view the home. A lot of times, open houses attract bored folk who are curious and want to take a look, but who may not be serious about buying. This can still be good for creating awareness and spreading word about your home, but it can also be a bit of a waste of time if no serious buyers bother to come through at all.
2) Security issues.
Letting strangers in off the streets can always be a bit risky. While most are probably just nosing about, some may be pocketing valuables or casually noticing access points or any lack of security features.
3) Nosy neighbours.
No matter where you live, you are guaranteed to have nosy neighbours. If you do decide to hold an open house, prepare for a few to mosey through, and don’t be surprised if your home is the next topic of discussion during the weekly coffee club get together.
4) Lack of one-on-one focus.
The biggest concern with open houses is that it attracts multiple groups of people. What this could mean is that if a potential buyer does walk in, the realtor holding the open house may be too busy talking up some not-so-interested people while the prospective buyers end up wandering through without the one-on-one attention that is needed to make the sale.