Agents debate all the time on the value of open houses, some are firm believers in open houses while others consider it a waste of their time and a major inconvenience to the seller. While both sides have valid points open houses if done right can be a great benefit to the seller.
In a perfect world every seller would have at least one open house, but that isn’t always feasible. Sometimes the seller just can’t deal with the requirement of having to be out of the house for four to five hours on a weekend or the seller just isn’t comfortable with the idea of an open house. However if as a seller you are okay with having an open house then one should absolutely be held.
Even the best pictures and video tours can only provide so much to a potential buyer and an open house is a great way to showcase the home to a potential buyer and as a listing agent help them see why your home is the right one for them to buy. In order for an open house to really be of value the listing agent has to properly marketed the open house enough days in advance and build up anticipation for the open house with potential buyers. Done properly you should see a good amount of traffic through the house providing the highest number of possible buyers as well as enough active buyers to gauge the market for the home.
As Orange County Real Estate listing agents part of our job is to see what the market thinks of our offerings and help our sellers make active and informed decisions going forward. We recently had a seller take their home off the market to do a host of remodeling when we repeatedly heard through open houses that the market was willing to pay more if the kitchen and bathes were new but wasn’t interested in making an offer if they weren’t updated. This tells us that the current crop of buyers in this particular market want something turn key and are willing to pay for it but are not willing to go through the process of making renovations themselves. That kind of information is invaluable to a seller trying to maximize their gains on their real estate investments and really can only be acquired by communicating directly with the active buyers in a particular market.
Open houses can also serve as a good way to control access to the house for a fixed period of time. This comes in handy when there are small children and people who work from home. The last thing you want is to be in the middle of bathing a baby or be on a conference call and have some agent knocking on the door. So the open house can serve as a buffer to mitigate otherwise restrictive showing instructions such as appointment only during the week or no showing between certain hours. Having the home appointment only during the week with 24 hours notice can be a lot easier to deal with if those instructions are followed with open house Saturdays from 1 to 4pm. This allows buyers and buyers agents to know they will easily be able to see your home in a comfortable setting and schedule their showing accordingly.
Generally the value of an open house will far outweigh any inconveniences so if possible allow the house to be held open and enjoy the benefits open houses have to offer.
When permitted by our sellers we hold all of our listings open. If you want to know how we manage to make our open house work wonders for our clients feel free to contact me.
949 599 6860