Since the first agent met the first seller, the open house has been a staple of real estate sales. It only makes sense, right? If you’re going to buy a car, you’d at least want to take it for a test drive—the same thing with buying a house.
If you’re going to spend $500,000 or more on a home, you’d at least want to see the interior. Is an open house the best way to do that? Maybe, maybe not. It’s a personal preference.
The internet has changed many things, including open houses. With walkthrough videos being all the rage, is it indispensable to have dozens of people trampling through your home unaccompanied?
Having an open house exposes your home to people who may be looking to buy. Your agent advertises the open house a week or so before it happens. Many of them put out open house signs, and people follow those like breadcrumbs to your door.
Your agent meets them at the door. Local area agents represent some; some are unrepresented and walk through independently.
The agents who bring their clients are the most essential visitors you’ll see. Agents qualify buyers before they get to see your home, and more often than not, these agents have their clients prequalified for a home loan before they will work with them.
But why do the unrepresented people want to see your home? Are they buyers? Passersby? Is nosey Nellies’ just looking for ideas for their homes? Fact is, they could be anyone. When an open house is busy, one agent can’t keep track of all the people going through your home.
According to the National Association of Realtors, only 3% of homes sell from an open house. Agents sell 90% of home sales to their buyers. The owners sell the remaining 7% in sale by owner, or FSBO, transactions.
Is the open house the best idea when selling your home? Take into consideration the following:
These are the most serious issues with an open house. But, what are the alternatives?
What if you requested that all showings be on one weekend? Not an open house, but an all agent accompanied showing weekend?
Each agent has an assigned time to come with their clients and see your home. Your agent or licensed assistant is at your home from start to finish. You get it all done in one weekend. No showings during the week. No stress of constantly keeping the house clean. How convenient would that be?
This approach works great on one condition. You’re serious about selling your home, and you’ve priced it to attract buyers—more on that in future posts.
If you’re considering selling your Wilmington, NC home, please call me or click here for my contact page. I can advise you on the best approach in preparing your home to sell.
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