Can an Open House Help Sell Your Home?

Real estate has changed a lot over the last few years – and it’s still evolving. As a result, some elements of real estate that were once standard practice aren’t so common anymore. On top of that, buying and selling a house is a deeply personal process. So, not every strategy is going to be helpful for every buyer or seller.

With all this in mind, one particular home-selling tactic (or more specifically, home-marketing tactic) that has become divisive in today’s real estate landscape is the open house.

Back in the day, open houses were practically a guaranteed part of selling a home. But how has their purpose and practicality changed over time? In this blog, we’re doing a deep dive into how an open house can help you sell your home!

How Do Open Houses Work?

If you’ve never attended or hosted an open house, you may not know how they work. Let’s break it down.

In simple terms, an open house is a scheduled event where anyone can stop by a for-sale home, tour the property, and chat with the listing agent to find out more about it. It’s sort of like a public, open-invitation home showing; however, potential buyers are (usually) guided through the property by the agent who is actually representing the listing, rather than their own Realtor.

Most open houses take place on weekends and last a few hours. Just like a showing, the seller will typically be away from the home while the open house is going on. This gives buyers the chance to explore the house at their own pace without feeling rushed or watched.

Potential buyers may find out about the open house in advance online, on social media, or simply by walking by and spotting the sign. While you may have curious neighbours who stop by to see the property, many attendees will be potential buyers with some degree of interest.

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I’m Selling: Do I Need to Host an Open House?

Next, let’s look at the million-dollar question: Do you need to host an open house when selling your home? Technically, no. Having an open house isn’t mandatory, and if your house sells quickly, it may not even be necessary.

However, even in today’s modern real estate market, open houses remain a very valuable marketing tool. In fact, it’s not uncommon for buyers to discover their dream home by stumbling upon the open house.

How Can an Open House Sell Your Home?

So, why are open houses still relevant in an age where buyers can almost always completely tour a home online before seeing it in person? Because they offer unique advantages and perspectives that traditional home showings don’t.

Finding New Buyers

Hands down, one of the most essential benefits of having an open house is the exposure. While your agent will be marketing your home in a variety of ways, it won’t always reach every last potential buyer. Hosting an open house helps to fill in the gaps by exposing your property to a new local audience, which could include the future buyer of your home.

The Neighbourhood Feel

One of the unique perks of open houses is that they indirectly immerse potential buyers in the local community.

In a pre-scheduled home showing, buyers will typically drive to the property without exploring the surrounding neighbourhood before or after their appointment. However, a lot of open house attendees end up at the home simply because they were walking by. This adds crucial context to the home and offers a more complete picture of everyday life in the area.

A Different Type of Discovery

When it comes to marketing your house, it’s important to have as many tools in your tool kit as possible. After all, every buyer has different preferences. The more needs you can cater to, the better.

With that in mind, another big advantage of open houses is that they present your home in a natural, unbiased way. Today, the vast majority of home buyers will first discover a home online. By the time they arrive for a showing, they’ve already seen dozens of photos and videos of the property, which will colour their expectations.

At an open house, most buyers are seeing the home for the first time, allowing them to build a blank-slate, unclouded first impression. This can greatly shape how they view and foster interest in the property.

Preparing to sell your home? Get in touch to find out how our expert agents can help you land a great price! Send us an email at info@bosleyrealestate.com or call 416-322-8000.