Pros and Cons of an Open House

Hosting an open house has long been a traditional and effective way of marketing a home and also drawing in prospective buyers. However, the internet changed all that. So, are open houses really necessary or effective today?

Let's consider some pros and cons of hosting an open house so that you can decide if it is something you need to include in your marketing strategy.

Pros for having an open house

Increased exposure 

The extra advertising that an agent will undertake in order to make an open house a success, will result in more attention on your home.  People become aware that your home is on the market and this increases the potential buyers pool. 

On-site viewing

There is nothing that can replace that feeling of stepping into a home that just "feels right". The internet cannot compete with seeing a house first-hand. Pictures do not tell the whole story so seeing it in person enhances one's search for the right home.

Convenience

Some people really enjoy taking a Sunday afternoon to browse the open houses. It is an unpressurised environment for buyers, and especially first-time buyers, to get a feel for the market and what appeals to them. No appointments need to be made and your listing agent will be on hand to give out more information and point out all the highlights of your home.

Cons for having an open house

Security

This has got to be the top concern. You are basically inviting total strangers into your home and there is no guarantee that the agent will be able to have eyes on everybody all the time. Your agent will also have concerns about their own personal safety.

No guarantee of a sale

The truth of the matter is that a very small percentage of homes sell as a result of an open house. Private viewings tend to increase your chances of a sale and most serious buyers will choose this option.

Added stress

We all know how important first impressions are and this will certainly pile on the stress for you to make your home look as appealing as possible. It can also be very inconvenient to you and your family as most often you will need to vacate your home on the afternoon of the open house.

So there you have it. Weigh up the pros and cons and talk to your selling agent about your concerns. Remember your home will sell without having an open house, so relax. It's really your personal choice, so make the right choice for you.