Do Open Houses Help Sell Homes

Performance Property Real Estate Question

Q: We’re planning to sell our home. Seems like everyone who sells has an open house. Do you think it’s necessary? Sabrina, Passaic, NJ

A: Many people mistakenly believe that you need to do an open house to sell a home–perception often becomes reality. Realtors throw open houses to please home sellers or because they buy into the misguided conventional wisdom that open houses are an effective way to sell a home. Open houses are normally a waste of time. The truth is that houses sell primarily based on 3 factors: 1) Buyer Awareness—if buyers don’t know about your house for sale, they won’t buy it 2) Buyer Preferences 3) Buyer Budget. Open houses can attract foot traffic—people may show up to your open house if they see a Realtor sign and balloons—unfortunately, these people are usually window shoppers or tire kickers, not the serious, paying buyers that you need in order to actually sell your home. Effective pricing is the key to selling a home, not whether your Realtor throws an open house. Thanks for your question, Sabrina.

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