There are a number of different ways that you can sell your home. A lot of people are familiar with some of the more traditional ways, such as selling their property with an agent, selling the property themselves or selling their property to a real estate investor. This blog will be looking at some of the pros and cons of an open house.
Is an Open House right for your New Jersey home? Will it be worth the time and energy? In this blog, we will review the pros and cons of an open house so you can decide if it’s right for you.
Pros and Cons of an Open House in New Jersey
The fact is, you may not get a buyer from the open house itself. In fact, more houses are sold via private showings. However, when you are trying to sell, you should let as many people know about the property as possible. Your nosy neighbor could wander in from off the street. Sure, they aren’t buying for themselves, but they might know someone who is. The idea of “picking” your neighbors will be appealing to many people. Having an open house is a great way to give your house exposure. More people seeing your home will never be a bad thing.
A NIce Environment for Buyers
An Open House usually brings in all types of people. Some people simply love seeing homes. Others are ready to make an offer on the spot. But what most people love, is that they are typically able to walk around the house without any high-pressure sales. This gives them the chance to get a feel for the property and the ability to imagine themselves living there. While a private showing is more one-on-one, an Open House will allow buyers to look around at their own pace without feeling rushed.
Most sellers stay away during an open house. It can be awkward for everyone. You probably don’t want to watch people judging every detail of your home. Buyers do not want to feel as if they are intruding upon you, nor do they want to feel as if you are breathing down their necks. You will need to get the house spotless and then hit the road. You should plan to be away for a few hours. Cleaning, staging, leaving and wondering who is walking through your house can be very stressful!
Speaking of people walking through your home, the idea of it can be a little scary! Thieves can take advantage during an open house, so make sure valuables are locked away. Put away all personal items, so nothing goes missing. People will also use an Open House as a chance to stake out the property. Most agents have an eye for these types, but some people choose to send a friend in to drop by to make sure everything is going well.
Dealing With Unqualified Buyers
An open house will attract anyone and everyone. You might have people off the street, walking in and attempting a verbal offer. Getting offers from unqualified buyers can waste everyone’s time. Make sure your agent knows to only get offers from individuals who have been pre-qualified.
Holding an open house is part of a much larger strategy. Many agents hold an open house to help increase their own exposure. And while it may not sound like it, this can be very good for you. A Realtor who knows how to market themselves and who has a lot of connections will likely be able to draw a crowd for your home. Any exposure of your property can be beneficial, just don’t expect a ton of legitimate written offers on the day of. Don’t rely solely on an open house, but do appreciate an agent who is utilizing ALL resources to sell your home.
An open house can be a great way for home shoppers to see a variety of homes in one location. The open house experience can be exciting and fun, but also stressful, as there is no time for buyers to back out and leave if they don’t like the homes they see. We hope this blog has helped you learn about the pros and cons of open houses in New Jersey and find the right one for you! If you have any other questions or concerns about open houses, please contact us anytime.