6 Tips for Holding a Successful Open House

Part II of II

In the article,Selling Your Home? When You Should NOT Hold an Open House, we discussed two reasons you should not hold an open house.

Here, in the companion article, we will discuss tips for a successful open house.

1. Less is More: Most realtors suggest that you not hold open houses too often, lest potential buyers - and other realtors - think there's a problem with the property. So, how often should you hold an open house?

This depends on your home's location, its selling price, your timeframe for selling, the average days on market* for your area, etc.

There is no industry standard for this. BUT, as an example, if the average days on market* in your area is 92, then once every 30 days should be sufficient. This will give you plenty of time to advertise it well in advance and to prepare for it.

*Average days on market: This is a term used by realtors to describe how long a house stays on the market before it sells. It is an average taking things into consideration like location, price point, size, neighborhood, etc. A good realtor will do a market analysis and tell you this in their listing presentation.

2. Go Away: As in, make yourself scarce during the open house. Let your realtor handle it.

This serves two purposes: (i): potential buyers will be more comfortable looking around and asking questions of the realtor; and (ii) the realtor will be more comfortable answering questions and explaining away potential problems without worrying about if they're hurting your feelings or stepping on your toes.

If you are selling your home yourself and hold an open house, don't follow buyers around. Like a clerk in a department store, tell them to feel free to look around at their leisure and that you will be (pick a spot -preferably outside).

Tell them to come to you with any questions they may have after looking around. This will make the buyer less apprehensive, and you will experience less angst as well.

3. Go Generic: As in, remove as many personal photos, children's art work, etc. as possible. Again, buyers need to be able to picture themselves, their family in your space.