When selling a home, some realtors are big believers in open houses whereas others won’t even consider them. Realtors can provide home sellers with a strategic plan to sell their home which may not always include an open house. We’ve gathered four of the most common reasons realtors protest open houses to help decide if an open house is for you.
Trust The Numbers
It may come as a surprise but on average only 2-3% of national home sales occur because of open houses. Although it is not impossible, the rate of risk to reward is so low that it is difficult for a realtor to justify holding one. Although open houses to the public show little success, we do recommend opening your doors to other realtors who can then suggest the home to their clients.
Exposure
In theory, an open house should increase the exposure of your property. However, without strategic marketing behind the event, it is unlikely that many people will attend or know about the open house. For an open house to be successful, your realtor should be placing street signs, newspaper, and digital ads, and sharing the word with other realtors.
Unqualified Buyers and Nosy-Neighbors
Although an open house invites potential buyers to tour without the scrutiny of making an offer, it also allows anyone to let themselves in which translates to unqualified buyers and nosy-neighbors.
Security
When you open your home to strangers you risk the chance of stolen or damaged property. Depending on how much foot traffic your home receives, it can be almost impossible for your realtor to keep eyes on everyone and ensure your property is safe. To prevent situations such as this, our team will often open a client’s home to realtors who can then recommend the home to buyers and schedule private tours.
Ready to sell? Call Roxan Coffman Properties today to find out how our team of experts can help you.