Open houses are used by about half of all homebuyers to assist them in finding a property. You’re well on your way to a good showing if your property is clean, priced right, and located in a high-traffic neighbourhood. The more meticulous you are in your planning and execution, the more likely you are to receive a decent offer as a consequence of your open house. You might even get an offer right away. Here are a few great tips for a successful open house.
What is an open house?
So, what exactly is an open house? In real estate, an open house is a scheduled time when a house is designated to be available for viewing by potential buyers. Open houses are a long-standing tradition in the sale of residential real estate to expose more people to a home for sale. Because most people are off work on weekends, open houses are usually hosted then to attract greater visitation. To attract more visitors, real estate brokers place signs on roads or near street corners. Moreover, realtors frequently list the homes in the real estate sections of newspapers.
Tips for s successful open house
Promote the open house
Let people know that you’re holding an open house. Although your real estate agent will do a lot of the heavy lifting, you can give your open house a boost by posting it on social media. Although advertising online is key, remember old-fashioned methods too. On the day of the open house set up strategically mapped signs around the neighbourhood.
Prepare your home for an open house
You’ll set yourself up for failure if you have an open house before your home is in good shape. Eager buyers won’t overlook major flaws in your home – they’ll either opt to pass or make an offer below what you feel your home is worth. With this in mind, attend to any issues that need attention and ensure that your home is ready for viewing.
Clean and declutter
Clean and declutter your house and make it camera-ready before you even put it on the market. Beyond the larger projects you should undertake to prepare your home for tours, don’t forget to depersonalise. As such, remove items from closets and surfaces and give the entire place a deep clean. The idea is to make your home look as pristine and universally appealing as possible.
Stay away from the house
Once the house is open to the public, make yourself scarce. Buyers typically don’t want to meet the seller while they’re trying to form an honest opinion of the property. Instead, let your agent take control. Make sure you pick a listing agent whom you trust with your home. During an open house, you have to be willing to relinquish control to your agent, and trust him or her to show off your property in the best light.
Put out the paperwork
A good open house isn’t just about ambience. It’s about getting down to business as well. You and your agent should consider the following steps:
- Display flyers with quality photos and the key points and unique features of your home.
- Have brochures and pamphlets available that contain financing options so that buyers can readily determine their monthly mortgage payments. Banks and lenders will often supply you with these.
- Set out documents about the house, including inspection reports, evidence of major repairs and warranties, and blueprints for additions.