An open house gives a home seller the opportunity to market their home to buyers by allowing buyers to view the house physically. The seller should advertise for the open house through a signpost outside the house or through the internet. You should indicate the date and time you plan to host the open house and prepare your house for this particular event. Preparations entail cleaning and de-cluttering the home in order to create a good first impression to the buyers. Before hosting an open house, you should know some of the factors that revolve around this event and establish whether it is an ideal marketing strategy for your home.
Consider the risks
An open house comes with a few risks for the seller. For starters, few people find their ideal home through an open house because homebuyers are using other convenient means to find houses. As such, you may host an open house that will not bear any fruits in form of offers. Additionally, a large percentage of people that attend an open house are often not interested in purchasing the property. Some people view the house in order to find decoration ideas or compare the home to theirs in the event they wish to put their homes on sale.
Another risk of hosting an open house is that you may lose several items from your house because some viewers only attend to steal. An open house entails buyers walking around the house in order to establish whether the property is ideal for them. As such, it is hard to keep track of everyone at any given time and some viewers take this opportunity to steal.
To attract a large number of potential buyers, you should host one or two open houses for your property. This will build up the interest of potential buyers who will stream in to view the home on the specified date. In this case, you may find a few promising leads who may start the negotiation process after making an offer.
When hosting an open house, ensure that you lock up all valuable items in a safe place where buyers will not reach. Seek help from a few family members or friends to keep watch over viewers in each room to prevent them from taking small items from the house. However, ensure that your friends keep a casual lookout to avoid making viewers uncomfortable.
Lastly, you may host an open house for real estate agents only. An agents’ open house is a good option since buyers’ agents attend the open house to establish whether the property may be ideal for their clients. The professionalism of real estate agents may eliminate the chance of losing items and increase the potential of getting offers from buyers.
If you are not comfortable with the idea of an open house, you may opt to market your home online through real estate sites. In this case, ensure that you take quality photos and videos to attract potential buyers.
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