Open House Expectations

Should you allow a public open house on your listed home?

Before you hold an open house, it is wise to discuss with your real estate agent what you should expect from an open house. Some agents believe that with the proliferation of virtual tours and multiple photos on the Internet, that hosting an open house is a complete waste of time.

I personally believe that there are certain advantages to having a public open house, and if you are willing to put up with the more likely perceived disadvantages, you may benefit from opening your home to the public. 

Here are some tips to make your open house more successful:

1.  Advertise In Advance

If you are going to host an open house, make sure it is advertised in advance. However, there is an exception to this rule. If a buyer has visited your home on a Thursday with his agent and has decided it is one he may want to consider, a last minute decision to host open house that weekend may give him reason to make an offer on your home so that he does not lose the opportunity in case another interested party comes along.

2.  Be Flexible: Nosy Neighbors Will Visit

Be flexible for the very likely possibility that a nosy neighbor will visit the home. While the chances are not great that they are looking on behalf of someone they know, it is always possible, so set your expectations accordingly.

3. Condense Your Open House

Condensing your open house into an hour and a half or two hours has its benefits. Obviously, you aren’t as inconvenienced.  If a potential buyer has read your open house ad and is interested, they will make time to visit the home. There is also a better chance that more than one visitor will be there at the same time, which can make the home appear more appealing and create a sense of urgency.

3. Open Houses Give Buyers A First Look

Because there are more homes for buyers to see in our current market, hosting an open house allows buyers to look first before having their agent include the home in a formal appointment.

4. Group Open Houses Can Be Beneficial

If there are a number of homes in your subdivision for sale, hosting a group open house is a creative approach to attracting more traffic.  Of course, there is always the possibility that a home other than yours might be sold.  Weigh this option carefully, but don't dismiss it out of hand, either.

5. Attract Interest Outside The Search Criteria

Another advantage of holding an open house is that your home, for whatever reason, may not have been included in those an agent has selected to show his client.  Maybe the search criteria ruled out homes with no fireplace, for example. But if that same client has interest in an area, they may drive through the area on the weekend and visit your home and find it appealing enough to consider.