Looking for a property is very stressful for a buyer; same as selling the house for the seller. It takes a lot of effort, time and energy to look for a house. At times it can be frustrating. For sellers, it is very disappointing because of waiting around and the constant cleaning of the property for individual viewers who will visit the house to check on it. For the buyers part, frustration will arise because someone might have seen the house, offered something to the seller already before they had the chance to check it. One more thing, both buyers and sellers have to depend on the communication skills of their real estate agents to make arrangements for viewings which could take a of time to be honest. Hence, open house viewing is really important.
Some are maybe not familiar with this method. But just so you know, it is one of the most effective ways for buyers and sellers to get their goals, for buyers to get their ideal property and for sellers to sell their house as soon as possible. What is open house? An open house is a long-standing tradition in the sale of residential real estate to expose more people to a home for sale. It is normally done on weekends. The real estate agents put out signs on boulevards or near street corners to draw drive-by traffic and usually list the homes in the real estate sections of newspapers to bring more people.
What are the benefits of an open house for sellers?
Convenience. It would be very convenient for seller to do a one time cleaning instead of individual viewing of property. It would be tiring for the seller to clean today because an individual will visit the property later, then another cleaning after a couple of days because another prospect wants to view the property especially if the seller is very busy.
It saves time. Same with the above. Not only convenience, but you will be able to manage your time if you will have a one time viewing of your property open for public. It is hard to clean your house from top to bottom and answer the questions over and over again from different prospects.
Higher chance of a quicker sale. Yes, it is true. When you do an open house, a lot of potential buyers will view your house, hence, higher opportunity to close a deal.
You can get more money. Of course, when there are lots of people interested with your property, there’s a possible bidding war. Sellers might receive a lot of offers. When there are too many offers, a prospect may give the seller a better deal, usually by buying the house at a higher price.
What about for the buyers?
More answers when there’s an open house. Sometimes, when you deal with the seller’s agent, you tend to forget some questions you would like to ask, but when there’s open house, some questions that you want to ask might be asked by another prospect, thus, gaining a lot of information about the property.
Gauging level of interest. Buyers can gauge the level of interest much better if there’s an open house. They can get an idea what they are really buying into which means they can decide easily if they will push through on buying the property or not. .
Lastly, you’ll have more freedom to explore. If you are a buyer, you’ll be more comfortable viewing the house when there are other people checking the property as well. You’ll be more relaxed.
So, when are you going to do open house? It is never too late to try it!