What Is an Open House?

Posted by Florida Realty Marketplace on Monday, September 23rd, 2019 at 8:00am

What Is an Open HouseOpen houses have long been a traditional part of selling a home. If you look at many of the homes for sale in Clermont, FL, you’ll likely see that a number of them have open houses scheduled.

These open houses are traditionally a time for interested buyers to drop in, visit with your real estate agent, and view the house. It was a way of getting a good number of potential buyers into the house without scheduling multiple private viewings.

But considering how many other parts of the home-selling process have changed thanks to new technology, you may wonder if an open house is necessary or if it has changed any over the last decade or so.

Benefits of an Open House

Open houses may not be as prevalent as they once were, but they are still happening. Getting a number of buyers onto the property within a short time frame does help cut down on the number of private showings. If you’re still living in the house while trying to sell it, that means there are fewer times you have to leave in order for your agent to show the property.

These events can also bring in interested buyers who haven’t seen your home online, but passed the open house sign. You may get an offer from someone who just happened to be driving by and saw the sign. According to the research, many home buyers credit the sign as the what caused them to look at a home.   They may be in love with a neighborhood like Legends in Clermont, and see the open house.  

Plus, they let you and potential buyers see how much interest is in your property. If your open house is packed and buyers see several other people looking at the home, it can push them to quickly put in a bid to secure the property.

In fact, it can actually encourage potential buyers to offer a little over the asking price if they think they face a number of competing offers. An open house can spark the bidding war that can drive the price up, and that’s what every seller wants.

Do People Still Go to Open Houses?

While it’s true that many buyers are viewing properties online instead of in person, many only use the internet to make a shortlist of properties they are very interested in. For example, home buyers in an older demographic may want to avoid two-story homes. Using online tools, they can quickly determine which homes have these features and take them off their list.

When they have a list of several properties they love, they’re going to want to see those homes in person. Most of the time, they send this list to their agent and have them schedule viewings, but if there’s an open house, they may go to that instead. Also, if there’s a property they’re not completely in love with but it meets their needs and has a listed open house, they may swing by just to check it out.

The bottom line is that no one wants to buy a house sight-unseen. While it’s true that many people prefer private showings, people do still attend open houses, especially if they’re held on a weekend when buyers don’t have to take off work or skip other appointments. Many agents hold their open houses on Sunday afternoon, which lets buyers hit multiple properties during the same day.

Broker and Agent Open House

Some agents hold an open house specifically for brokers and buyer’s agents. This gives other real estate experts the chance to see your listing and learn about its unique selling features. Once they’ve learned about your property, they will be able to present it buyers who are looking for homes of that size, layout, and price.  On top of this, these real estate agents can also provide valuable feedback. 

Need an Agent?

The experts here at Florida Reality Marketplace are ready to help you sell your current home and find the property of your dreams. Contact us today to talk about your real estate needs.

Leave A Comment

Format example: yourwebsitename.com

What's Your Home Worth? Find out now, for Free.

Let's Go