It is up to you to decide whether you should host an open house to attract buyers for your home. The cons of the open house are discussed below.
Neighbors who want to intrude your privacy will take an open house as an opportunity to get to your house. These types of neighbors do not want to buy your house but to find something to gossip about and compare your home with theirs. Idle neighbors will use your open house to make themselves busy the entire weekend.
The probability that you will sell a house through open house hosting is very minimal. The real estate agent stands to gain more potential clients from the open house for sale by owner of the house has fewer benefits to reap from the process. You have a better chance of getting by us when you use private viewings instead of open houses. Any serious buyer will prefer to view the home privately instead of the open house, therefore, do not waste your time and resources on this idea.
Open house exposes the family and property to insecurity. Everyone who wants to view the home is welcome when you host an open house, but not all of them have good intentions towards your family and property. You can protect your property from being stolen or vandalized during and after open house, but that may not be enough.
You will be anxious, restless, stressed and under high pressure when you have an open house because you’ll have high expectations of finding a buyer during the event. The pleasure of giving potential buyers a good first impression during open house event can put you under so much pressure that they make you mess everything up. When you hold an open house event repeatedly, you may come out as a desperate seller, and some of the buyers can take advantage of that to benefit themselves.
There are better ways of attracting buyers that save time which you can implement instead of wasting time on an open house. You need enough time to repair the home and clean up to improve its appearance and also take time out of your busy schedule like 6-8 hours to host the open house because buyers need enough time to view the home. Take pictures and videos of high quality of your home and edit them for posting on social media and websites of real estate companies or send them directly to potential buyers through email. Consider the value of your property, season, the current market price, its location and more by carrying out in-depth market analysis to establish the appropriate price to charge the buyers for the house.