why have an open house

Don’t overlook the power of an Open House

It may come as a surprise for some people, but even in today’s market we still encounter property sellers who have reservations about allowing their agent to conduct Open Houses when their home is on the market. We all have concerns about security nowadays, but an experienced agent knows how to handle and staff an Open House to address this issue, and the simple fact is that opening your home for inspection is definitely a smart way to promote your property and achieve the best possible price.

Here’s why…

Buyers prefer an Open House.

If your home is not Open for Inspection, many of today’s buyers will simply ignore it in favour of other properties that are more easily viewed. Buyers tend to plan their house-hunting activities carefully by making lists of Open House times. This enables them to see more homes in one day than they could by trying to co-ordinate private inspection appointments through multiple agents. If they can see a dozen homes in one Saturday, this is far more productive that trying to coordinate four to five private appointments over the same time frame.

Take control of property presentation.

If your buyers have to make private appointments, it is a real challenge to present your property at its very best each time the agent rings to show someone through. Keeping your property ‘inspection ready’ six or seven days a week while you’re living in it is virtually impossible.

With one or two pre-planned open for inspection times each week you can plan and present the home at its best…which means you increase the odds of achieving the best possible price.

An Open House gives you control.

Here’s a question…Would you rather spend time preparing your house every time the agent rings with another inspection, (often at a less-convenient moment), then have to leave your property while the inspection takes place? Or would you rather prepare and leave your home just once or twice a week at pre-planned times, while multiple potential buyers have inspections at the same time?

An Open House increases competition.

One of the key elements in achieving your best possible result is to ensure that each potential buyer is aware that they have competition from other buyers. When your home is properly promoted and is open for inspection at controlled times, buyers are more likely to see other buyers inspecting the property and expressing their interest at the same time.

The perception of competitive pressure encourages buyers to put forward their strongest offer rather than see the property go to someone else. The fear of loss among your buyers increases your chances of receiving the best offers that are out there. An Open House will help you achieve that goal.

It’s a relatively simple equation…The more people who have the chance to inspect your property and fall in love with it, the more likely you are to get more offers and achieve a better price. Of course, if your keen to stack the odds even more in your favour when you sell, be sure to download our FREE booklet, “Fatal Real Estate Traps Exposed”, or give our Customer Service team a call on 1300 400 400.

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