Is Having an Open House the Right Strategy for You?

There are a variety of opportunities in the Austin real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here. 

When selling your Austin home, there are a handful of things you have to take into consideration before deciding whether you should have an open house. We put together this list so you can make the decision that's right for you:
  1. The good: An open house will get people in the door that might not have otherwise seen your home. Many people are too busy, or simply forget, to schedule an appointment to view a home. When you have an open house, the door is open to any potential buyer who happens to have a free afternoon. Another positive is that you control the timing and can set the scene for your open house.
  2. The bad: According to the National Association of Realtors, an open house will only get your home sold 7% of the time. Your location has a lot to do with whether your open house will be successful. You also run the risk of having nosy neighbors come by who aren't motivated buyers; inadvertently letting a burglar in your home is another potential risk.
  3. Making the decision: What you make of the pros and cons comes down to your particular preferences. Are you comfortable letting strangers in your home? Are you in a location that would draw a decent crowd? Do you want more control over the home selling process?
As you can see, there is a lot to take into account when deciding whether to market your open in this way. In the end, we feel that having an open house can help drive demand, which, theoretically, could get you a higher price for your home. At the end of the day, it comes down to what you're comfortable with. If you would like to discuss what strategies might be best for your specific situation, give us a call or shoot us an email. We would love to help you get your home sold for top value.