The Pros And Cons Of Real Estate Open Houses In The Omaha Housing Market
So many decisions come into play when homeowners list their homes for sale. You have to decide if you want to use a realtor, then go through the process of picking one, agree on a price of the home, and then decide if you want to host an open house. As with any decision when you’re listing your home in the Omaha housing market, there are pros and cons.
Your realtor should be able to walk you through this decision as they have a keen sense of the market and whether or not this would be a good idea for your area of Omaha and in your price range.
Pros Of Hosting An Open House
You can attract buyers who may not know how to start the homebuying process.
First-time homebuyers, especially, may not know exactly where to start. Walking through a few open houses will give them a chance to see what is on the market and available in their price range and in the neighborhoods they’re interested in.
You can get additional exposure for your property.
Many realtors have strong marketing systems in place to get the word out about your property being up for sale. An open house can be a valuable marketing tool, but your realtor will know whether or not it will be one of the most effective ones for your property.
Open houses can put potential buyers more at ease.
Open houses are generally laid back events. Most realtors who have hosted open houses allow visitors to tour the homes at their own pace, without hard selling the property. This allows people to identify if they like the home and also to closely examine the items they should be looking at when viewing homes.
Cons Of Hosting An Open House
Not very many homes actually sell because of the open house itself.
According to the 2017 National Association of REALTORS® Profile of Home Buyers and Sellers, only 7% of buyers found the home they purchased from yard / open house signs.
Open houses can invite in unqualified buyers.
Many realtors ask new clients if they’ve been pre-approved for a mortgage before they start showing them properties. With an open house, people can wander in right off of the street to tour the home.
Open houses also invite in nosy neighbors and people with no interest in buying.
Nosy neighbors often enjoy stopping in at open houses to see how their own homes stack up. They also invite in people who have absolutely no intention of buying the home, but are just curious about the home or the people living inside.
Open houses do come with some security issues to be aware of.
Open houses allow would-be criminals the opportunity to explore your home with little to no supervision and can give them the opportunity to plan out their crime. The chances of these crimes increase when selling a home, especially if the home is sitting vacant. It’s easy to spot these vacancies, too! In addition to break-ins and vandalism, there is also the threat of possible theft. It’s important to remove all valuable items, including jewelry, electronics, prescription drugs, and other heirlooms, before hosting an open house.
If you and your family are preparing to sell your home or are getting ready to start house-hunting, contact the Fairfield Team and we can help you get started or answer any questions about the Omaha housing market!