Guide to Successful Open House for Sellers and Buyers
Whether you’re a seller hosting an open house or a buyer looking to purchase a home, it’s important to be well-informed about the overall process to ensure an effective use of your time and money. Review our tips for a successful open house!
Real Estate Marketing Collateral: Display flyers with unique features of your home and quality photos that people can take home. Additionally, make sure there are resources available that contain financing options so buyers can determine their monthly mortgage payment based on the home’s listing price.
Let Your Real Estate Agent Take Control: To ensure all goes smoothly, trust a professional such as a Real Estate Agent to take control of showing off your property. Remember, on the day of the open house, try not to be around the house, as it prevents buyers from forming an honest opinion of your home. Read more about Real Estate professionals in our blog, Real Estate Professionals Keep You Safe.
Clean & Declutter Your Home: One of the most important things you can do to sell your home is to clean and declutter. Thoroughly clean your entire house and repair any holes or cracks. Review our decluttering tips, and implement to make your house ready to sell.
Home to Sell: Appeal to potential buyers, and potentially receive higher offer price by staging your home. Remove any personalized items and highlight photos of your home during other times of the year. Staging can help buyers visualize their family in the new space.
*Pro Tip: Prepare to have refreshments and snacks available to potential buyers. *
When is the Best Time to Hold an Open House?
Typically, spring is usually considered the best time to list a home and hold an open house. According to The CE Shop, the ideal time to host an open house is on weekends from 1:00 PM- 4:00 PM. Nonetheless, keep an eye on any local sports teams and when they play. Although not everyone is a sports fan, this could impact attendance at your open house. Speak with your Real Estate Agent to formulate a game plan.
Tips for Attending an Open House: Home Buyers
Practice Buyer Etiquette: When attending an open house, be sure to practice proper etiquette, and avoid overstepping your boundaries. For example, if people are still living in the house, refrain from opening any drawers, cabinets, refrigerators, or closed doors. Moreover, avoid dressing too casually (ex. pajama pants, bathing suit, flip flops) as it can cause agents to not take you as seriously.
Know What to Look For: It’s important to examine the home’s interior and exterior to determine if there is any visible wear and tear. Be on the lookout for easy to spot damage like uneven floors, water stains, cracks in the ceilings or walls, or missing roof tiles. Ask the agent if you can take pictures so you can factor in the cost of these repairs and how it could affect your budget.
Review the Competition: Be mindful of other prospective homebuyers at the open house who might also want to make an offer on the property. This will help you gauge how quickly you should submit an offer, and how much you should offer.
Ask the Right Questions: To make an informed decision, prepare several questions to ask at the open house to get as much information as possible. Below are a couple questions to ask that could provide valuable insight into your decision-making process. Additionally, review our blog How to Find a Family Friendly Neighborhood to help determine if the home and neighborhood would be right for you!
How long has the property been on the market?
When was the house built and have there been any updates?
How many offers has the seller received?
How much are the monthly utilities?
If you’re looking to purchase a home or need a recommendation for a trusted Real Estate Agent, we would be happy to help. Contact Direct Mortgage Loans today!
Monica Guerra is a digital content coordinator specializing in planning and writing content centered around home buying and the mortgage industry. She has a B.S in Marketing from Salisbury University and served as an ambassador for the Perdue School of Business's sales program. Connect with her on LinkedIn here: @linkedin.com/in/monica-guerra-