The Pros and Cons of Having an Open House
When your house is on the market, you may find yourself asking if having an open house is worth it. Between having to clean your house until it's spotless, finding a place to take your pets and/or young children and having to be out of your home for several hours on a weekend, it can be quite stress inducing. So, it's a good question: is it worth it? Here is a list of pros and cons to help you decide:
OPEN HOUSE PROS
- There are buyers out there who may not know how to start the home buying process. Many will see ads for open houses and will start their home search that way. So, a positive that may result from having an open house is the possibility of a buyer who doesn't know where to start coming to see your home. You might also get the attention of potential buyers who just happen to drive by and see the sign for the open house.
- Your property will get more exposure. Making sure your house gets ample exposure is one of the most important jobs of a Realtor representing a seller. Hosting an open house is a great way to generate interest through additional exposure via promotional advertising, street signs and newspaper and internet ads.
- Potential buyers enjoy the pressure free atmosphere of an open house. They feel more comfortable looking around with little to no pressure from the Realtor or seller. They can take their time and look at specific details of the home that will help them decide if it is the right house for them.
OPEN HOUSE CONS
- There is a slim chance of a sale. The truth is that a very small percentage of homes sell because of open houses. Realtors benefit the most from holding an open house because gives them the opportunity to meet potential clients. But, private showings of your home are more likely to result in a sale than open houses.
- Wasting time on unqualified buyers. One of the first steps in the home buying process is obtaining a mortgage pre-approval. Getting a mortgage pre-approval is essential for knowing what you can afford when buying a home. At an open house, you may find many people walking through your home who can't afford it. It is a waste of time for you and your Realtor to have people looking at your home when they cannot possibly purchase it.
- You will have to deal with nosy neighbors and "lookie loos". Open houses often attract inquisitive neighbors who simply want to see your house and compare it to their own. They also might just want to see how you have your home decorated. "Lookie loos" are people who frequent open houses with no intention of buying a home. It's like a hobby for them; they just like to look!
- Security may be an issue. Break-ins and vandalism are two things that are an unfortunate reality. The chances of them happening are increased when you are selling a home, especially if you are selling a vacant home. Open houses allow criminals the opportunity to explore a home with little to no supervision, giving them time to plan their crime.
The pros and cons of having an open house should be carefully considered before deciding if it is worth it. Mike Manosky can answer any questions you may have about selling your home. Give him a call at (256)508-0211 or visit http://huntsvillerealestateonline.com today.
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