More and more sellers are joining the trend of hosting their own open house. It’s a simple
process: In addition to the scheduled showings that are presumably booked while you are away from home, you are also able to open your house once to everyone who is interested in purchasing the property.
Benefits for the Seller
One of the best benefits of an open house is that instead of catering to buyers individually, you can show and invite all of them together and complete with the viewing in one go.
We all have commitments and one way or the other; they will come in between the viewing. Hosting an open house saves you time by answering every buyer’s question at one time while giving in-depth detail about the house.
When buyers visit an open house, they closely gauge the reaction of other buyers, to find out how interested everyone is. This works in your favor because they might place an offer there and then in fear that someone else might do the same.
Every seller loves a bidding war because this means multiple offers and a chance to get a high price on your house.
Benefits for the Buyer
In-Detail Inspection of the House
Pictures never tell the truth and an open house allows the buyer to check every room, nook and cranny in the house. They can satisfy themselves that the house is sound on every level.
Gauging the Seller’s Level of Interest
One great benefit that works in favor of the buyer is that they can gauge the seller’s level of
interest. At this point, they can’t rush you into making a decision by rudely saying, “I already have many offers on the house, so if you are planning to make one too, better make it now”. You can make an informed decision and then check the competition the next day.
A one-to-one meeting with the seller at the open house is a great way to convince the seller, why they should go with you. You can talk to them on an emotional level and explain why buying the house is important to you. This is basically a “living auto biography”. What better way to show your enthusiasm for this home! Since, they won’t be distracted with other commitments; they will give you their undivided attention.
So, there you go… benefits of an open house for the buyer and seller. As a seller, hosting an
open house will help you get multiple offers, which increases the chances of making a high
profit sale and as a buyer, visiting an open house gives you the freedom to roam and gather