Do Open Houses Really Work?
Most REALTORS agree that while open houses do not generally lead to a direct sale, they are a necessary part of a good strategic marketing plan for the sale of your home. Here are a few of the benefits of allowing a throng of people in your home at one time:
1. Details about your home will be published online and in the local newspaper. Even if folks do not come out to visit, they may give your property another look.
2. Open houses can be a great trial run for staging your home as you come on the market. Your REALTOR will hear lots of comments (feedback) in a short period of time that can lead to “important fixes” of things that people may find problematic.
3. Usually, a lot of neighbors will show up at your open house. They are often called “noisy neighbors,” but are very interested in the market value of your home. If your 3 bedroom, 2 bath, 1500 sq. ft. home is worth $150,000, the chances are that their similar home is worth approximately the same. Suddenly the entire neighborhood is on display as a good place to live. In addition, word of mouth will expose your home to their friends and co-workers.
4. Thinking your home might be right for them, an upcoming open house may cause folks considering an offer to “get off the bubble” and try to “seal the deal” before Sunday arrives.
5. An open house causes your realtor to re-focus on your property for a solid hour. Most realtors call their seller, immediately after the open house, for a discussion about important considerations.