Are open homes effective in selling houses?
When selling your home, inspections with the agent and prospective buyers can be arranged privately or open homes can be scheduled. But are open homes necessary? Open homes are most commonly scheduled on weekends (or outside of working hours) and are a more casual way for potential buyers to view a home without the pressure of a private inspection. Buyers are able to analyse the home without a time constraint or feeling intimidated when viewing with the agent on their own.
In this digital age where everything can be found online, you could be tempted to believe that open inspections are becoming a thing of the past, however open homes allow potential buyers the opportunity to physically get a feel for the property and be able to picture themselves living there by walking from room to room and creating an emotional connection that will drive them to ultimately put an offer in (or bid on the property if it is going to auction).
Open homes are positive for the vendor in that they can create healthy competition. Vendor’s can showcase their home to multiple buyers at the same time, creating competition and prompting buyers to act or risk missing out on the property.
While it may feel like a hassle to clean and prepare for an open home, ultimately the results will speak for themselves. Holding an open house is an efficient way to get more eyes on your property, and a bigger pool of potential purchasers can help lead to a higher final sale price.