When it comes to selling your house, open houses can be a huge boon. However, you may not realize there are also negatives associated with open houses. Read on to learn about some of the positives and negatives, thanks to real estate expert Bryan Nazor.
Deciding whether or not to have an open house for your property can be a challenge in and of itself. The first thing that comes to mind when you consider it will most likely be the effort involved: keeping the house clean and ready for visitors, keeping an open schedule, etc.
If you’re asking yourself whether or not the benefits of holding an open house are worth that effort, you’re not alone. Real estate expert Bryan Nazor has this to say on the subject: “A question I hear time and time again is whether or not someone should be holding an open house for their property. To that I say: every situation is different, but there is an increasing number of reasons not to have one.”
The Positives of an Open House
Let’s start with the obvious: there is no substitution for being able to walk through a home and see what it has to offer first-hand. “It’s the difference between video chatting with someone and being able to meet face-to-face”,says Bryan Nazor.
There may be certain aspects of your house that really shine – whether it be certain high-end materials that were used in its construction, a gorgeous view from a second-story window, or any other number of countless things that are best experienced in person. In that case, an open house can be a huge benefit to helping a buyer lockdown that final purchasing decision.
Open houses can also help your property gain exposure. Of course, you’ll already be promoting your property’s listing as much as you possibly can be, but the additional promotion you’ll receive from an open house being promoted is nothing to sneeze at. “More exposure for your property is never a bad thing”, Bryan Nazor wisely states.
The Negatives of an Open House
As mentioned earlier, there is a certain level of stress that comes with holding an open house that you wouldn’t normally have to deal with by strictly sticking to private showings. Preparing your home for an indeterminable amount of people to be thoroughly looking through is no joke. Bryan Nazor also wants us to be aware of a common problem: people visiting with absolutely no intention of buying.
“Of course, you’re going to get those people,” Bryan Nazor tells us, “who never intend to buy the house. A lot of times it will be nosy neighbors there simply to fill up on hors d’oeuvres and satiate their curiosity, especially if the family has already moved out”. This shouldn’t be cause for shock. In fact, only about two to three percent of all home sales are made through open houses.
There’s a greater danger than simply wastes of time, unfortunately. Bryan Nazor warns us to be aware of your home’s security. Open houses present a prime opportunity for the criminal element to gain literal front door access to your home. This gives them the opportunity to get the layout of your house down pat so they can plan for a future crime.
If they’re really bold, they might even attempt to take your belongings during the open house itself. When this happens, it’s usually very hard to track down the perpetrators.
Beyond the hassles of having extra people in your home, there’s one very good reason not to have an open house. With the advent of virtual tours, open houses aren’t as necessary as they once seemed to be. “It used to be you were unable to get a good feel for a home without being physically present. Now, with virtual tours being an option on pretty much every listing website, anyone can take a detailed walkthrough,” Bryan Nazor tells us.