Open House Truths

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One of the top questions I hear from sellers is “are we going to do an open house?” I get that! You’re ready to sell your home! You’ve got it all shiny and pretty, it’s been photographed and it’s going to hit the market tomorrow. What about that open house? You see them all the time, they’re kind of fun to stop by!

Honest Truth: that open house is probably not going to sell your house.

Is there a chance your future buyer walks in that door to your open house? Yes, it’s a possibility. A survey from the National Association of Realtors(1) shows that 7% of buyers found their house by seeing an Open House sign. Let’s take a look at who really shows up to open houses:

Looky-Loos: Just looking, no intention to buy. In fact, this is a great weekend hobby for those that love to look at houses! C’mon, we’ve all been guilty of doing this at some point!

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Buyers: Hopefully they walk in and think “this is the one”! But what are the odds that this one open house and this one buyer happen to cross paths at the perfect time? I’m not saying it doesn’t happen- just don’t expect it.

Agents: Sometimes an agent may stop by to pre-screen a home for a client rather than making an appointment. Really  convenient for the agent. Hopefully it’s just the property they’ve been in search of for their buyer.

Window Shoppers: They’ve got the champagne taste, but a grocery aisle wine budget. Your home

is out of their price range, but it’s so fun to dream and explore.

Your Competition: Other sellers in your area scoping out the competition. Pictures don’t tell

the whole truth, what better way than to walk through themselves?

 

Real Talk: It’s 2018. We have every little bit of technology literally in our back pockets today. If

you’ve got a good agent marketing your house through the MLS, social media, they’ve

had professional photos done and advised you on home prep and repairs, you do not need an

open house to sell your house. In fact, would it blow your mind if I told you this:

 

The goal of an open house is not to sell your house. It’s mostly so that your agent or other agents in the office can generate leads.

 

Now, there’s absolutely nothing wrong with this. If you’re ok with it, or if your home is vacant

anyways, that’s great! Throw your awesome Realtor® the opportunity to expand their business

if they like to use that avenue. But don’t be fooled thinking the Open House is going to attract

that perfect buyer and sell your home. The most important things you can do to aim for that

quick sale are:

 

  • Price the house appropriately for the market and condition.
  • Prepare the house- make sure necessary repairs and cosmetic work get done and that the home is show ready on picture & listing day. (on the flip, don’t over improve with projects that won’t bring value back to you)

(1)- Source

 


Rachel is a licensed REALTOR® with Top Idaho Real Estate serving clients in Boise, Meridian, Nampa, Caldwell, Kuna, Star, Middleton, Eagle and surrounding areas. Please feel free to reach out with all of your Treasure Valley Real Estate needs.