Open houses, especially in this era of high concern for health and safety, may no longer reap enough reward to balance the risk. While it is exciting to think that a prospective buyer will come to your open house, fall in love with the home, and offer your asking price or more, the odds are against that scenario. In fact, it’s a good idea to learn the pros and cons of having an open house before you decide whether it is right for you.

Who comes to open houses?

The point of an open house is to allow many people at once to view your home, ideally increasing the chances that one of them will buy. However, many who visit open houses admit that they are merely curious about what the house looks like inside. They may be neighbors, people offering comparable homes for sale or homeowners looking for decorating ideas. For some, visiting open houses is a form of Sunday afternoon entertainment.

If potential buyers do come to your open house, they will likely be those who are just starting the process, perhaps before they have even spoken to a lender to see how much they can afford. These buyers are simply trying to get an idea of what kind of homes they might find at certain prices points or in various neighborhoods.

Is it right for you?

The most nefarious visitors to open houses are thieves. Taking the opportunity to walk through your home without supervision, would-be thieves can discover the weaknesses in your security as well as scoping out your valuables, including any prescriptions in your medicine chest. If you opt for an open house, take special precautions against this issue.

This can sound discouraging, but there are also some benefits to having an open house. For example, other real estate agents often come to open houses. They like to see if the house for sale might meet the needs of their own clients. This could lead to a sale. Additionally, open houses that lead to sales typically result in a higher sale price. Nevertheless, whether to host an open house is a step you and your agent should discuss and decide together.

Looking at pictures online or viewing virtual tours is a good start, but there is nothing like walking through a home that has sparked one’s interest. House hunters often get an immediate feel for whether they will be comfortable in your home or if they should keep looking. You might be curious about what buyers think about your home, but steering clear of a showing or open house is rule number one for increasing the chances that your home will make a good first impression. 

Let your agent work

There are certain matters of etiquette that buyers appreciate when touring a home. The presence of the homeowner often makes buyers feel awkward. They might not feel at liberty to really study the home or discuss those features they like or would change. Perhaps more importantly, it is difficult for a prospective buyer to get a feel for living in the home when the current owner is present. Therefore, it is always best to plan to be away from home during any scheduled tours.

You probably have certain features you want to be sure to point out to potential buyers, but that is what your real estate agent is for. You can rely on your agent’s skill and experience to present the home in its most positive light. You can help by doing the following:

• Clean and declutter your home, and make sure it smells nice.
• Take your pet out of the home to allow visitors access to every room without worrying about your pet’s safety.
• Leave magazines or brochures about your neighborhood, special community events or interesting features about your home.
• Provide a thoughtful snack, such as cookies or other baked goods.

When you have done these things, step out of the way and let your agent do the rest. This will give house hunters enough space to absorb the good vibes of your home. You might be surprised how far these considerate gestures will go.