Is an Open House a Smart Marketing Strategy in 2022?
If you’re trying to sell your house, you likely think you need an open house. While it’s not the only way to sell your house and most open houses don’t sell the house but instead garner interest in it, they can be a good idea even in 2022 as we still face a seller’s market.
Here are the pros and cons of considering an open house in 2022.
Benefits of an Open House As you probably guessed, there are certain benefits of hosting an open house including the following. It Gives a Different Feel Sure, your buyers could view your house online and even do a live tour online with a real estate agent, but it just doesn’t offer the same feeling. Buyers like to see and touch everything in the home. They want to see how they feel when they walk in and imagine their belongings in the home – that’s not something you can do online. It Provides More Exposure You can get much more exposure hosting an open house than just listing your home. More buyers will come to see your home even if they aren’t sure if it’s something they wanted. There’s less pressure at an open house than there is making an appointment to view a home and some buyers need that. Creates more Urgency Sometimes hosting an open house can create more urgency in buyers making them place bids faster. If interested buyers realize there are other interested buyers they may rush to make a bid to avoid a bidding war.
Cons of an Open House
Like anything, there are downsides to hosting an open house too, including the following. There can be a Lot of People If you’re trying to keep your exposure down, especially in your home, you might not want a lot of people traipsing through it and risking your family. There are plenty of ways to reduce the risk of exposure down, though. Not Everyone Walking Through is a Buyer Open houses are an invitation to everyone, and there’s no distinguishing if they are a true buyer or not. You might end up with nosy neighbors or just people ‘window shopping’ and wasting your time. Should you Have an Open House? Everyone wants to know – should they have an open house or not? The answer isn’t the same for everyone. In some areas, yes an open house is necessary to stir up interest in the home. In others, though, an open house isn’t necessary and there often isn’t even enough time to host one because the home sells faster than you could even set up an open house.
If you want advice on whether you should host an open house or just list your home and see how fast it sells, I’m happy to help you. I have many years of experience in the area and successfully help sellers not only sell their homes fast but also make top dollar for them.
N.