Are Open Houses Still Relevant?

Is having open houses with your real estate agent still relevant in an era where online photo galleries and video tours make it easier for buyers to view properties for sale? One has to wonder as Buyers are spending more time searching for real estate listings online to find that perfect home.

A Home Buyers and Sellers survey by the National Association of REALTORS® revealed that over 90% of home buyers begin their searches online. With today’s technology, Buyers have an advantage of comparing prices and neighbourhoods of homes that interest them. They are even able to narrow down a list of potential properties with just a few clicks of a mouse.

With very little homework and reach search to do; a home buyer can arrange a private showing of homes that interest them directly with their real estate agents from the comfort of their home. With so many online options now available, finding that perfect dream home has become a lot easier. Leaving home Sellers to wonder “are open houses still relevant”.

The Reality Perspective

A good REALTOR® will take high-end photos and multimedia videos to showcase their homes for sale in the best possible light. Once a property is staged, a professional photographer can adjust the lighting and angles to make every aspect of the that home look fabulous!

On the other hand, amateur photos do not always highlight the right features a home has. Leaving Buyers to wonder what they are really buying. There is also the issue of trying to figure out the floor plan of a home based on a couple of online photos. Leaving serious Buyers to wonder, does this home suit their family and current lifestyle.

Serious home buyers will attend open houses or arrange private showings. They use these two options to gain a more accurate perspective of how a home really looks. When a home buyer has the opportunity to view rooms within the property; they can envisage how their own family, furniture and belongings might work in that home.

Who goes to Open Houses?

The majority of Buyers who are serious about buying a home tend to work closely with a real estate agent. Their REALTOR® will arrange private tours of prospective homes they like. Allowing their Buyers to walk through and gauge the property for themselves. By the time a REALTOR® arranges an open house, serious home buyers would have already viewed it.

However, there are other people who might attend real estate open houses that may not necessarily be interested in buying. These people can include the following:

Your Neighbours

Nosy neighbours love to look at other people’s homes. They might be curious about the value of their own home in comparison to yours. While other neighbours are just interested in what décor and furnishings their neighbour has chosen.

Tentative Home Buyers

Not all prospective home-buyers are comfortable dealing directly with a real estate agent. Many buyers rather wait until they are absolutely sure they know what they want buy. An open house is the perfect opportunity for a serious buyer to check out a property without booking an appointment. If they like what they see, they will contact the REALTOR® that is selling the home.

Leaving your Home Vulnerable

Unfortunately, there are people out there who love to visit open houses simply to case the home. After all, the property is wide open to the general public; which presents an opportunity to take a look around and work out the best way to break in.

Safety issues aside, there are definite pros and cons of having a real estate open house. The key to making a decision about which one is right for you when selling your home should be discussed with your real estate agent first.