It is up to you to decide whether you should host an open house to attract buyers for your home. The cons of the open house are discussed below.
An open house will attract inquisitive neighbors who have been longing for an opportunity to enter your home. These types of neighbors do not want to buy your house but to find something to gossip about and compare your home with theirs. People who are idle will only want to spend their time in your home when you have an open house.
The likelihood of selling a house through open house hosting is low. The owner of the house does not have much to benefit from open house hosting but the real estate agent does because open house exposes their agent to potential clients. Private viewings increase the probability of getting a buyer, unlike open houses. Open houses are unnecessary when you need to sell your home since most serious buyers do not view the home through open houses.
Open house exposes the family and property to insecurity. Everyone who wants to view the home is welcome when you host an open house, but not all of them have good intentions towards your family and property. You cannot be too careful with everyone who gets inside the home when you have an open house even if you have security measures in place.
An open house will raise your hopes of finding a buyer during the event; hence it will put you under pressure, anxiety, and stress. You may find yourself losing it because of the pressure that you will be under to impress the potential buyers for the first time. Some buyers are looking out for desperate seller will they can take advantage of to benefit themselves more, therefore, do not post open house event repeatedly because that may make you seem desperate to these buyers.
open house utilizes a lot of time which can be an inconvenience to your busy lifestyle but there are time-saving approaches of attracting buyers. You need enough time to repair the home and clean up to improve its appearance and also take time out of your busy schedule like 6-8 hours to host the open house because buyers need enough time to view the home. Post high quality and well-edited photos and videos of your home on social media, websites of real estate companies and send them to potential buyers via email. Analyze the market to set the appropriate price for your home depending on its value, season, prevailing market price, location of your home and more factors.