Advantages and Disadvantages of an Open House

Green lawn with an Open House sign

Hosting and open house is one of the traditional marketing moves in real estate. But you should know there are advantages and disadvantages of an open house. We’ll look at some here so you can make up your mind on whether hosting an open house is best for you.

Advantages

Exposure

An open house is a great opportunity to reach people you might otherwise miss. For example, casual or shy home shoppers may avoid private showings until they are serious. There are also nosy neighbors (who may know someone who knows someone looking for a house just like yours) and other real estate agents who might network with your agent. Open houses are a great way to save money as well, at least for your agent, as the marketing for one event like an open house is cheaper and more efficient than a longer, drawn out campaign. Getting exposure cheaply and efficiently is always good.

The Senses

Having an open house gives potential buyers a chance to touch their future home, have a face-to-face with your agent, sniff out the neighborhood, verify that the pics online weren’t overly flattering, and hopefully see all the good that you see about your house. The lookers might envision their own family growing there, or maybe they can picture themselves playing games with their friends in the living room and smell apple pie in the oven. Those tiny epiphanies are hard to capture from pictures online. *Note - the effectiveness of an open house depends partly on the qualities of your property. If you have a neighbor that hand washes his diesel truck while wearing a Speedo every Saturday afternoon before he takes it out for a loud, sooty drive, we might prefer to mention that to a buyer over the phone before they see, smell, and hear that as their first impression. We’re mostly kidding. But really, are we?

Convenience

Individual showings can be tedious. You have to live in and out of boxes while trying to keep a show quality house. The pets need to be elsewhere during the showings. The yard has to be freshly mowed, and you have to track down that mysterious smell and eliminate it for each showing. Boo! An open house can reduce those, potentially, if several interested buyers are coming at the same time. Plus, you have more notice with an open house. You can take two days to get ready for it, instead of a few hours, which is more typical with an individual showing.

Disadvantages

Conversion Rates

With the accessibility of information through the Internet so easy and the quality of pics and videos so high, it’s no wonder that over 90 percent of home buying starts online. The percentage of buyers that go from a website to a direct and individual showing is such that the open house is almost obsolete. Many experts say that open houses have little effect on the overall sales both in price and time spent on the market. Considering the other cons we are about to mention, hosting an open house may not be worth it.

Safety

Are you worried nefarious people may be just trying to case the joint? It’s true that people have come into homes and cased the place for potential burglaries, but that’s extremely rare. If together we decide that - considering the other advantages and disadvantages of an open house - we should go forward, crime should not be a deal-breaker. You should worry more about whether that neighbor in the Speedo is coming over or not. Your insurance should cover any heart attacks by your visitors, but nobody’s buying a home on that day.

It Benefits Others More Than You

For one, it benefits the snoopy people, especially your neighbors, by letting them gander through your home. Most of these people either aren’t serious or pre-approved for a home in your price range. Also, as agents, open houses are great for us. We network with other agents and the advertising we do for the event helps us get our name out in the community. So some selfish agents will pressure you into an open house for their own benefit. At Seller’s Choice, we will do what is best for you. And it is also true that us networking with other agents can be good for you. They may be buyer’s agents or know of a potential buyer who is looking for a home like yours.

Hopefully by looking at the advantages and disadvantages of an open house you are equipped to make a decision. We won’t leave you to make it alone. Contact Seller’s Choice Realty. We have the experience, knowledge, and care for you to get your home sold!

Ready to Sell your Home?

When you’re ready to take your next step to sell your home in North Myrtle Beach, South Carolina, be sure to contact Sellers Choice for your best choice in real estate needs. The agents at Sellers Choice Real Estate will aid you in completing all of the steps mentioned above, as well as help you take any additional steps to help you sell your home quickly and without any added stress.