RhodyRealEstate Thursday, March 19, 2020
www.rhodybeat.com
On the fence about holding an open house? Open houses are one way to gain the interest of potential buyers but they’re not right for everyone. To some, the possibility of a hoard of strangers wandering through their home is just too much to bear. Others view open houses as a fantastic opportunity to showcase their home to interested buyers en masse. If you’re on the fence, here are some pros and cons to consider in making your decision:
make sense but things like cameras and recording devices have specific rules. Always consult with your Realtor before employing specific security measures.
Pro: Open houses aren’t just for buyers. Your agent can schedule an open house for brokers and agents so they can see firsthand, whether your home has the features that could interest one or more of their buyers.
Pro: Open houses offer a valuable opportunity to promote that your home is for sale. Even if a sale doesn’t occur directly, the resulting pre-promotion and word-of-mouth can help spread the word to potential buyers. Con: Many times, buyers begin their home search by visiting open houses. Those not quite ready to make a move may feel less pressure visiting an open house than scheduling private showings with a real estate agent. While these visits can sometimes be a direct route from “maybe I’ll start seeing what’s out there” to “I have to have this house,” the reality is, for these buyers, that’s not the norm. Pro: On the other hand, an upcoming open house can entice someone who has been actively looking and is on the fence about making an offer to make a move. The pressure of a looming open house can be the push needed to help them come to a decision, particularly in the current market where the supply of homes for sale is low
Con: Be aware that events beyond your control can render your scheduled open house useless. For example, despite careful planning and prepping, bad weather or road work could limit its success.
OPEN HOUSE and competition for available homes is fierce. Con: At an open house, anyone can walk through your home. They may or may not be financially qualified to buy it, they may just be nosy with no intention of buying at all, or worst of all, they may not be trustworthy, putting the security of your things, your home and your
agent in jeopardy. Minimize the risk by locking up or removing drugs, valuables and important items. Also, talk with your agent about the steps they take to minimize theft or damage and enhance security both at the open house and after it. (Open houses provide an opportunity for thieves to see what they may want to come back for at a later date.) Sign-in in sheets and accompanied tours obviously
Still on the fence? Talk to your Realtor. As members of the National Association of Realtors, they have access to plenty of information on best practices, security measures and protocols as well as avenues to promote your open house and home sale in general. Put their experience to work for you. And remember, the best odds of an open house resulting in a quick sale, is to be sure your home has great curb appeal, is sparkling clean and is priced right from the outset.
Source: RILiving.com
Find homes for sale or rent, upcoming open houses and commercial properties on RILiving. com, the official website of the Rhode Island Association of Realtors.