Some people (sellers and real estate agents) believe it’s essential to have an open house when trying to sell a home. The truth is, while there are advantages with an open house, there are also a few drawbacks you should think about before making your decision. Our Big Island luxury real estate professionals know that with virtual tours, photos and all of the other information available online today for buyers, open houses aren’t the big deal they once were. We’ve included some of the advantages and drawbacks below to help you decide.
Some people have to see it up-close and personal. There are people who are visual and must see your home in person in order to get a better grasp of the layout, room sizes, etc. This may be a great opportunity for a serious buyer, but it’s also an opportunity for those who aren’t ready to buy to trample through your home.
Convenience may be a factor. It isn’t uncommon for someone who’s passing by to stop in and take a look around, especially if they’re in the market to buy a home.
It’s possible you could have multiple buyers interested. What happens when two or three people are interested in your home after touring it? It could result in a bidding war, which means you could get more than what you’re asking for your home.
An open house also lends to networking opportunities, as other brokers often attend open houses along with investors or even those in the house flipping business. Your real estate agent may have a greater reach depending on who and how many show, which usually results in a quicker sale.
What about the potential drawbacks of an open house?
There’s an opportunity for theft. Whether someone browses around while there are lots of people in the house and takes the opportunity to pocket something they like, or “cases the joint” to see what would be the easiest way to break in at a later date, it’s something to keep in mind.
Some people are just curious – or nosy. Open houses are often the ideal opportunity for others in the neighborhood to come nosy around and see how you live on the inside. Lots of people are just curious; an open house may just be something to do to kill some time. Not all who come by are ready to buy or even interested in buying.
It can be stressful. How many truly interested buyers will stop by, or will there be any at all? Will you get an offer or maybe even several? It’s difficult for some to have their home open to anyone at all who wants to see it. In most cases, those who are really serious will request a private showing before you host an open house due to the fact they want to be one of the first to make an offer.
Whether or not you choose to have an open house is up to you. Our Big Island luxury property brokers can help if you’re having a difficult time deciding, as other factors may come into play as well. At Mauna Kea Realty – A Hawaii Life Company our top priority is selling your Big Island home quickly for the best price. Give us a call today.