Is an "open house" really necessary?
I often hear clients ask this question, and the answer is: it depends on the circumstances and client preferences.
Many people would prefer to sell their home with the minimum fuss and would rather avoid a weekend open house. Others may feel that if they don't have open houses they may not get the best possible price for their home because not enough potential buyers will see it. Some people want to have their home held open as often as possible in the belief that this is the best way to get it sold.
There are circumstances where an open house is a good idea, and may be helpful in getting a sale, where other methods may not. The case of a house situated on a main street is a good example. Many potential buyers or agents may ignore such a house due to traffic noise, but a buyer may drop in on an open house and find the noise is not a concern. Another example could be a house that has had interior renovations and looks better inside than outside. Buyers might otherwise pass it by, thinking the house needs too much work, but if it is open, they may check it out and be pleasantly surprised. It may also be convenient to hold an open house at the beginning of the marketing process so that a large number of buyers can be got through the house in a short period of time. This minimizes the disruption to the owner of endless showings during the week, and also creates a buzz of excitement among the open house buyers.
In general, however, a home can be sold at top market value without having to hold public open houses. Most areas will have open houses for agents at certain times during weekdays, and these can be useful to publicize your home among realtors. Some people go to an open house to compare with their own home, to see how a neighbour lives, or to check the market. With property showings by appointment only, the buyer's personal particulars are known in advance, and the buyer is prequalified to be looking at a house that he or she might like and be able to afford. A serious buyer will always make an appointment to see a property rather than wait for an open house, so you need not worry about missing a good buyer if you decide against having an open house.
