Are Open Houses Worth It? When One Might Make Sense
Are open houses with it? This guide will help you decide as well as plan, prep, and promote your open house.
Maybe your family is bursting at the seams, and you’ve found the ideal home to grow into. Your Realtor® suggests hosting an open house, but the idea of strangers exploring your personal space while you’re away makes you uneasy. This raises the big question: Are open houses really worth it?
“If you want to get the highest possible price, you want to be able to have the opportunity for every buyer that’s interested to view your property,” says Chiquita Pittman, a top-performing real estate agent in New Jersey whose expertise includes first-time buyers and foreclosures. She emphasizes that in today’s market, where inventory is scarce and demand remains high, an open house can maximize exposure and attract multiple offers. This approach is particularly effective because it allows prospective buyers to experience the property firsthand, creating a sense of competition and urgency that can drive up the final sale price.
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What is an open house?
An open house is a marketing tool that increases the exposure of the property by allowing prospective buyers to tour the home during a specified period of time.
Typically held on weekends while the seller is absent, the listing agent can answer questions about the house. Attendees are asked to sign in and provide contact information so the agent can follow up and provide feedback to the seller about issues that should be addressed to improve marketability.
