What are the pros and cons of holding an open house?
An open house is a common way of selling homes and other real estate properties. It is a scheduled period when a house is designated for viewing by potential buyers. There are many pros and cons associated with this method of advertizing your property. In as much as there is a lot of fanfare associated with this method of selling homes, not all people will be comfortable with the whole process. Many of the open house sessions will happen over the weekends when potential houses are advertized. The most common way of holding an open house in Union City and other places in Hudson country is by putting banners and forms of fanfare for potential buyers to visit the homes and see them.
Before a house is put on an “open house” sale, the owner has to clean it and spruce up everything so that it can look smart and attractive. The property has to be kept immaculate during the open house so that all the potential buyers can be attracted to it. There are owners and agents who will offer a cocktail for their potential buyers during the open house event. Well, it can be fun to hold this event. However, there are many advantages and disadvantages that come with the open house mode of selling your property. Here are some of the advantages:
Higher offers and a quick sale
There are people who will buy your house when the interest for the same is high. During an open house in Little Ferry and other towns in Bergen County, many potential buyers will turn up for the open houses and this could easily land you a sale. When the number of people interested in the open house is high, the potential for a sale is high. The more people make bids for the house, the higher the sale price is likely to be.
Additional exposure to your home
When you are selling a home, it is important that you get as much exposure as possible. This is the best way you can get a better sale price for your home. On top of advertising your home on the internet and real estate magazines, an open house gives you a chance to expose your property to real time buyers. You can actually even have a virtual open house online so that potential buyers from Hoboken in Hudson county and other parts of the country can get to see your property.
There are some disadvantages associated with open houses as well. These are:
Buyers rarely buy at open houses
Well, there are few sales that are made during an open house. You see, the idea of an open house is to create a buzz and exposure to your home. This is a disadvantage to the sellers who would do an open house in the hope that they will make a sale.
Inconveniences to the homeowners
Well, for you to hold an open house, you will need to clean the home and keep your children away for the homebuyers to have a convenient viewing of the home. The effort that you have to put for a successful open house may be daunting. There is also a possibility that many time wasters will attend the open house. These people will not add value to the process and this means that you may have a lot of idlers in your compound. You are not assured of the safety of your household items and other properties in your home at the time of the open house.