Open houses are a good means of selling a house but like any other methods, it has its share of advantages and drawbacks. Before you decide if it’s worth it to have an open house, make sure you know the pros and cons.
Open houses attract buyers. There are people who are not comfortable working with an agent so they prefer to buy houses on their own. Open houses provide a less intimidating way of viewing your home. Potential buyers who do not feel pressured by hovering agents will have a good time of considering themselves in your home.
Open houses attract the wrong crowd. Not all onlookers are serious buyers. Some are just nosy neighbors while others are looking at some things they could steal upstairs while you are busy answering questions from other house shoppers. A large number of shoppers also pose risk of property damage. Visitors who tend to get comfortable with your belongings might leave dirt tracks or worst, break valuable vases and furniture.
You can save on staging costs with open houses. Staging your house for the sale involves time and money. Drawing multiple buyers at the same time could mean less private showings resulting in less last-minute preparations and staging. Since open houses are less intimidating, people are inclined to give you feedback about your house. These feedback can be valuable information towards improving your house and close on the next buyer.
Not all houses’ location is perfect for an open house. Some cannot just accommodate several cars parking in so the owners can go inside the open house. If you are still living in the house you are planning to sell, open house means you have to vacate the premises together with your children and pets.
Bottom line, open house does not work for everybody. If you want to have a quick sale without the hassle of home staging and showing, sell your house to private investors.
LucasProperties is a private investor who has been in business of buying houses and other properties with cash. Over the years, they have helped property owners disposed their homes hassle-free.