Buyers and Sellers... Get Open to the Idea of an Open House!

In the real estate world, there is a lot of discussion about just how beneficial holding an open house can be for sellers, buyers and even real estate agents. Frankly, they don’t always end with a buyer making a game-changing offer on a home. Everyone who stops in to browse through a home isn’t necessarily even interested in buying. And, yes, open houses are an opportunity for real estate agents to show off their expertise and impress onlookers with their marketing skills. So, what’s the point of holding an open house?

When you stop to consider all of the buyer and seller benefits, it actually seems downright senseless not to hold an open house. Here are our top three reasons that sellers should hold an open house, buyers should attend one (or more) and real estate agents should put in the long hours to make sure that both sellers and buyers get the most out of their open houses:

Seller Perks

1. The More People Who Know a House is on the Market, the Better

Plain and simple. Open houses are a great first step in marketing your home. In addition to appearing in an MLS listing, open houses are typically advertised online and in some traditional media, too. Obviously, the more exposure your sale gets, the more likely the right buyer is to find it.

And, this goes for those onlookers who are just coming to scope out your home, but don’t really have plans to buy. Yes, let those nosy neighbors walk through. Though they may have no intention of making an offer, they may have friends or family members who are planning to buy. Let them tell everyone they know how great your home is!

2. Open Houses Provide Instant Feedback

Though some sellers may feel anxious about what prospective buyers think of their home, hearing that feedback is a great way to make sure a seller is putting their home’s best features forward. Holding an open house after a home hits the market is an awesome way to get that feedback in a hurry. Whether they’re interested in buying or not, open house attendees are happy to share information about the features they love in a home and those that may even turn serious buyers away.

3. Open Houses Can Create a Sense of Urgency for a Sale

While not every person who attends an open house may be interested in placing an offer, all of that buzz around a home can entice an interested buyer into putting their offer in sooner than they may have intended. When a prospective buyer sees a lot of activity around a home they are considering, they may feel a sense of urgency in getting their offer on the table before someone else does. So, the more faces an interested buyer sees at an open house, the more their sense of urgency may increase!

Buyer Perks

1. You Don’t Need to Make an Appointment for an Open House

An open house is exactly that… open! So, that means a buyer does not have to go to the trouble of scheduling an appointment to see a home. They’re free to show up whenever they would like during the duration of the open house. This is great for buyers who do a lot of browsing online, but may not necessarily have a lot of openings in their schedules. If they see an open house, they simply can stop in! This is also a great perk for buyers who do not have agents to do the scheduling for them.

2. You Will Meet a Helpful Agent

Open houses tend to attract buyers who are just beginning their home searches. Some have not met a real estate agent that they’re compatible with. Let’s face it; it’s possible that this type of buyer may not be interested in the first home they come to view, but they may be interested in the agent that’s representing the home. While they may not “win” on the home they visit, they may find a “win” with a particular agent, who is able to show them other available homes they may love. And, that sounds like a win-win for buyers!

3. You Will Get Questions Answered on the Spot

There is no denying that browsing homes online is a great first step in finding the home that’s right for you. But, it should be noted that online searching is only that… a first step. Attending an open house is a great way to answer questions that you simply cannot answer from an online listing. Because open houses are put together by agents who are knowledgeable about the home, buyers tend to find out a lot more about a home’s history, the neighborhood and features when they attend an open house. Did we mention that’s all on the spot?

Now, for those agents who put in the time to schedule, plan, market and orchestrate open houses. Yes, they may sell a home; yes, they may demonstrate their professionalism and earn new clients; yes, they may even make professional connections along the way.

So, is an open house worth having? Is it worth attending? Is it worth all of the planning? We’ll let you decide. But, when you do, feel free to check out all the Open Houses in Pittsburgh that we have planned!