Living in a pandemic for nearly a year and a half caused open houses to be non-existent. Homebuyers had to rely on the Internet more than ever to view properties, and there was no such thing as a Sunday afternoon stroll through a property. Now that restrictions in Alberta are lifted and we are moving towards open houses again, it’s time to reassess the pros and cons. We are here to offer you some insights based on our experience and knowledge as real estate professionals; after that, the choice is yours!
To sell a house effectively, you need to ensure that your listing is out there loud and proud. Whether it’s on social media or REALTOR.ca, it’s critical to make sure that your listing is accessible to buyers. Having an open house means generating additional exposure simply by having it available to anyone who walks through your door. Although you will get people who aren’t looking to buy but just wanting to look around, you will hopefully still get traction through word-of-mouth, if not actual buyers attending the open house.
Attract new buyers.
The process of home buying is not something a lot of people are fluent in. There are many steps and items to get in a row when you’re looking to purchase a home. Having an open house allows individuals to come in and ask your REALTOR® any questions they have about the process of buying that particular house, and in this case, yours. If your real estate professional is in the business of helping buyers, they will have no problem guiding them through what to do next. If someone who walks in uninformed ends up walking out informed, then you’ve just got yourself another buyer in your market.
The laid-back nature of open houses is appealing to buyers who are on the fence or ones that want to really explore the property without being on a time crunch. There is a certain level of comfort knowing there isn’t a REALTOR® following you around while you walk around the home. While the Internet is ultimately the best resource for listing your house, nothing beats someone being able to physically walk through the home, taking their time browsing all your property’s features.
Slight chance of a sale.
The reality is that open houses do not increase your chances of a sale. Any buyer who is serious about purchasing a home will contact the seller’s agent directly or schedule a private viewing of the property via their REALTOR®. Many people who come to an open house are there strictly for eye candy; they want to spend an afternoon looking at properties for fun. If a sale is what you’re after, you likely won’t find the seller at an open house.
More beneficial to your REALTOR®.
Open houses are an excellent way for real estate professionals to chat with prospective clients. They can use open houses for exposure of themselves and their brokerage. If a REALTOR® is looking for an opportunity to garner business, an open house is a perfect place to be. Let’s put it this way: the chances for an agent to make a connection with a potential buyer or seller is much more probable than the chance of you selling your home via an open house.
Potential security concerns.
Open houses are exactly that: open houses, which means that vandalism and theft are not unheard of. Anyone can come to look through your belongings or scope out your property. It’s important you safely store away any valuable items and ensure that any meaningful belongings aren’t accessible.