The Advantages and Disadvantages of Open Houses

Should I have an open house? This is an important question to consider if you’re thinking about selling your home. If you’re unfamiliar with the term, an open house is a scheduled period where interested buyers can view a home.

Being able to view a home up close and from the inside, rather than only through pictures, can go a long way in persuading people to buy. That said, open houses do take some effort, so it’s important to know what you’re getting into before making a decision. Here are a few of the advantages and disadvantages of doing an open house.

Advantages of an Open House

There are many advantages to putting on an open house for selling your home. An open house is a great way to attract interested buyers, particularly those that are dissatisfied with just viewing pictures online. It’s a very comfortable environment and a low-pressure way to show off the house’s best features up close, including those that can’t really be appreciated through photos.

Another advantage of an open house is that it can hasten the selling process. Showing a home to potential buyers through one-by-one showings can take a long time, whereas open houses allow you to show off your home to multiple people at once. You may even receive an immediate offer on the spot!

An open house also allows your REALTOR® to hear visitor feedback. Open house attendees can alert your REALTOR® to potential issues in the home or on the property that could be driving potential buyers away. This could be anything from an unappealing choice of wallpaper in the living room to a light switch that isn’t working. Of course, your REALTOR® would likely catch these issues ahead of time, but visitor feedback is a great way to identify problems that may have been overlooked.

Disadvantages of an Open House

The most significant disadvantage of putting on an open house is that there is some time and effort required. If you’re unsure of how to put on an open house, it involves a lot of cleaning and some interior decorating to make the home as appealing as possible. You’ll have to remove some personal items, so interested buyers can fully visualize themselves living in your home. You’ll also need to leave the property during the open house (if you have a REALTOR® running the event), which means making arrangements for any children or pets.

Another potential drawback of an open house is that it can leave you somewhat vulnerable to theft. This can be prevented if the REALTOR® limits the number of people that can be in the home at one time, but there’s still no 100% guarantee that no theft will occur. Theft is not a common occurrence during open houses but is definitely something to be conscious of when deciding which items to leave out in the open during the event.

Of course, some people also just don’t feel comfortable with a group of strangers walking through their home, which is completely understandable. This discomfort, paired with the effort that goes into an open house, is enough to dissuade some from putting on an open house.

Simplify Things With an Ontario Real Estate Agent

Though it does take some effort to organize an open house, the process is made so much simpler by hiring a REALTOR®. A REALTOR® can take care of the details and interact with buyers in the home, answering their questions and offering valuable insights. They know how to communicate in a way that’s not too pushy and makes interested buyers feel comfortable. By putting them in charge of your open house, you could even receive multiple offers on your home!