Selling Your Home? When You Should NOT Hold an Open House

Part I of II

There's a little real estate secret that most realtors don't tell sellers. What is it? Open houses don't sell houses. So, why do realtors hold them? Quite frankly, to appease customers.

Why Open Houses Benefit Realtors, Not Sellers

Sellers like to feel like the realtor is "doing something" to promote their property, so realtors will gladly hold them. BUT, they really benefit the realtor more than the seller. How?

Many "looky loos" come to open houses. Looky loos are what many realtors call those who are just looking and are not serious about buying - right now. This is a great opportunity though for realtors to fill their pipeline for future deals.

So, what does this have to do with why you shouldn't hold an open house?

Once you know how the process works, you can decide - along with your real estate agent - when it is appropriate to hold an open house - and, perhaps more importantly, when it is not appropriate. Following are two instances when you should not hold an open house:

1. Landscaping: If your landscaping is poor, you should definitely not hold an open house. Landscaping, eg, curb appeal, is the first impression potential buyers get of your home.

If it's not a favorable one, the mindset is one of negativity going into the home. And, potential buyers are much more likely to look very closely, eg, nitpick, other things.

It just starts the whole relationship off on the wrong foot because it set's up negative impressions from the start.

You can landscape your front yard for less than $200. The article How to Landscape Your Front Yard for Less Than $200 . . . And Add Value to Your Property! tells how.

2. Sufficient Advertising: Do not hold an open house if you haven't had enough time to advertise well in advance. It will be a waste of your time.

How far in advance should you advertise? Two weeks will give you plenty of time. Where to advertise depends on many variables, eg, the price of your home and its location.

Pair grass roots marketing like signs, announcements on community bulletin boards and spreading the world through church, professional associations and co-workers, with paid advertising like online ads and real estate books.