Holding an open house to sell your home has now become an obsolete practice in the real estate world. As shown in the “2020 Home Buyer and Seller Generational Trends Report” published by the National Association of REALTORS® (NAR) last March, only 4% of buyers visited open houses.
Technology has spurred people to do more and more things online, so holding an open house is no longer considered necessary to sell your property. Let’s take a look at some of the reasons why you don’t need an open house to close a sale:
You don’t attract actual buyers
Not everyone who walks in to check out your open house will be qualified to purchase your home. Open houses truly mean “open”: anyone can wander in just to have a look. It can be nosy neighbors, other home sellers sizing up the competition, or just random drive-bys. You’ll get your share of those who go through the motions but will be very unlikely to purchase the property. What you want is to attract the right kind of buyer, i.e., someone who’s been preapproved for a loan and ably represented by their own real estate agent.
You’re exposing yourself to possible theft
Open houses are an opportunity for burglars and thieves to scope out your home to get the lay of the land and carefully plan a future crime. Some unwanted visitors may even steal from you outright because there is little to no supervision during open houses. While hard data is not available on thefts that occur during open houses, most police departments around the country have issued warnings to sellers about the risks of being robbed.
You’re better off with online listings
According to NAR, 90% of buyers rely on the Internet when searching for a new home. It’s always best you hire yourself an agent and make sure you get your home listed on as many websites as possible: Realtor.com, Zillow, Trulia and, of course, you agent’s own real estate company’s website. If you wish to target your own neighborhood, you may even want to consider listing your property on Craigslist.
You’re going to incur costs with open houses
“Time is gold,” but time isn’t going to be your only expense when you try to sell your home through an open house. You’re likely stress about keeping the house in show-ready condition. This may mean deep cleaning the home and spending money on staging. You’ll also need to serve freshly-baked cookies, cake, and other refreshments. While these may seem small costs at first, they can quickly add up the longer you hold your open house.
You can do a virtual tour instead
The Internet is killing open houses. A virtual tour is now the way to go: Put together a slideshow featuring photos of your home, or have a professional video shot to highlight its best features. Doing so will allow potential buyers to view your home in the comfort of their own living room. This way, serious qualified buyers can contact your agent to arrange a private viewing.
If you’re looking for competent Florida realtors to represent you, count on the Connie Cabral Group, a Certified Luxury Property Specialist, to take care of you. Our team is headed by Connie Cabral, one of the best realtors in Florida. We are a full-service bilingual (Portuguese & Spanish) real estate team of seasoned professionals. We can help ease the stress of selling your home: call us at 305.776.0899 or send an email to us at connie(at)conniecabral(dotted)com.