Open house myths persist to this day. (And, will likely continue well into the future.) In reality, the majority of open house myths just aren’t true when you get right down to it. But, these remain part of the home selling folklore, so-to-speak. Let’s take a quick look at where these misconceptions probably began and why they are still with us to this day.
Why the Open House Practice Remains Relevant
Journey back in time to 2003. The National Association of Realtors found 42 percent of home buyers began their house hunt online. Eleven years later, that number increased to 80 percent in 2014. As you might imagine, it’s higher now. But, it seems like it’s plateaued, for all intents and purposes. This brings us to why home sellers and real estate professionals alike still host open houses. Because even though people might begin their property search online, they certainly don’t stay or stop there.
“Homes rarely sell to buyers who visited them during an open house. Agents like open houses because it enables them to find additional customers who are looking to buy or sell homes. If you or your agent choose not to have an open house, it probably doesn’t hurt your sale chances – although holding a broker’s open house for other agents may be worthwhile.” —US News and World Report
Home buyers want to know if what they see is real. They also want to kick the tires, as the old cliche goes. It’s a great opportunity to not only see the property in-person, but interact with the owner or the selling agent. An open house provides a casual experience and gives people a glimpse into what others think. An open house also gives buyers the opportunity to roam without the “pressure” of a private showing. In other words, there are several benefits to hosting an open house.
Most Common Open House Myths You Really shouldn’t Believe
Unfortunately, some home sellers believe that hosting an open house isn’t a good practice. They have certain misconceptions about what a open house is or what it actually does. Put another way, they mistakenly think it doesn’t make much sense, for a variety of reasons. So, here are the most common open house myths you really shouldn’t believe:
- It’s too much work for little or nothing. Yes, it is quite a bit of work to prepare for an open house. But think about it this way. If your property isn’t ready to show, how can you expect to make a positive impression? Keep in mind that people form an impression of a house in just 7 to 10 seconds. And, only 1 in 10 can reimagine it in another way that it’s presented.
- An open house just won’t work in my area. Here’s another big myth (read: excuse). Some sellers really seem to think that an open house simply won’t work in their location. But, remember, anyone who has viewed it online or is willing to come to your open house certainly thinks otherwise. So, don’t waste the opportunity to show your property who are interested in living in your area.
- Hosting an open house means inviting nosey neighbors. Sure, a neighbor or two or even more might pop in for a quick walk-through. But, that’s more people who will likely talk about your house to others. It’s another way of spreading the word.
- The market is simply too hot to justify hosting an open house. While a market might well be red-hot, even a super seller’s market, buyers still want the experience of walking through and asking questions. It can’t be substituted, nor should it be since there’s a lot to gain.
If you’re going to sell your home in the near future and buy a new house, please don’t hesitate to phone me at 407-616-7286, I’ll be happy to speak with you.