Must You Hold an Open House to Sell Your Home? The Debate Continues

By Abby Johnson

Some real estate agents today opt not to host an open house for every home they list. The reason is because more and more home buyers are finding their houses online. Time and technology have drastically shifted the way we do business and the real estate industry is no exception.

Review these pros and cons to help determine whether or not you prefer an open house to sell your home fast.

Get Buyers to Experience Your Home and Neighborhood

According to the National Association of Realtors’ (NAR) Profile of Home Buyers and Sellers, nine out of 10 buyers today look for houses online. Generally, people have less time to spend, and with the new availability of 360-degree virtual tours, it’s like seeing the house in person…almost.

A virtual tour is only virtual. Slideshows or a video can show a buyer your house, but they miss that personal touch. A virtual tour cannot reveal the essence of your home, the feel of your neighborhood, or the small details that often help make the sale. Online photos or video can help take a prospective buyer’s interest to the next level and bring them through your front door in person. A recent NAR survey suggests that a large percentage of buyers go back to Open Houses as a source of information for their home purchase.

Who Benefits from an Open House?

A survey conducted by the Real Estate Center at Texas A&M University hinted that the people who actually benefit from Open Houses are usually the agents because they offer a place for Realtors to build their clientele. Home buyers who come to Open Houses are more likely to ask the agent to show them additional houses in a similar price range, layout, or neighborhood.

Sellers find that an Open House can help seal the deal. Curious home buyers like to explore all available houses in a certain area and might not ask their agent to accompany them to every house. Reaching those buyers may help you sell your home faster.

Negatives to Consider

Sometimes agents might refrain from holding an Open House if they have a solid marketing strategy in place. It’s an added cost for the Realtor, eats into their weekends, and does not always result in a sale. Often Open-House people visiting the house are curious onlookers and not serious buyers.

Homeowners must also consider safety and security. There is always the possibility of opening your door to riff raff. You may not want to take that risk to sell your home.

Abby Johnson is the real estate blogger at Express Homebuyers. Serving the Washington, DC, Metro area, they can help you sell your home fast without a open house! Contact Express Homebuyers now or call them at 1-800-SELL-2-US (1-800-735-5287) to get on your way to a fresh start.

(c) 2010 Abby Johnson