Why use open houses to buy and sell homes?
An open house is an important marketing methods employed by home sellers to sell their house, by opening his house for public view on a given date and time. Home sellers advertise their open house using various media channels including this particular website, which is exclusively designed for this purpose.
The objective of an open house session is to allow the potential home buyers to have a detailed look at the house so that they have a clear-cut idea about the property in question. This saves significant amount of time in going through the preliminary details through verbal/written descriptions or photographs.
Also, it may happen that though the house seller makes every effort to brief the potential buyers thoroughly about the house through the above mentioned methods, there may always be chances for miscommunication. This can be avoided with an open house when the buyer can inspect and inspect the property to his complete satisfaction.
An open house session eliminates these problems. The buyers see the house exactly as it is. They can talk directly to the house owners or go through a realtor as they please. Some house owners prefer to sell it by themselves (For Sale by Owner / FSBO). In such cases, the both the seller and the buyer save on commissions to the realtor (though it must be said that realtors do have an important part to play in buying and selling property).
Another advantage of holding an open house for the seller is the ability to address all questions from the prospective buyer or buyer's agent. Typically, the owner is an active participant in the sales process.
Open houses are usually held at weekends, when the intending buyers are free and have the time to visit the house with their families and friends. Sometimes, they can make on the spot decisions. A lot of time is saved in fixing appointments and coordinating meetings, more so, since in any multi-party meeting, the seller, buyer and the agent or even a sub-agent may not be free to attend them at the same time.
Organizing an open house is particularly useful in case of 'unusual' houses, which need to be seen to be believed. The seller also gets the opportunity for feed back from the intending buyers, regarding the drawbacks, if any, which if removed, can make it more saleable. He may have made some professional omissions in presenting his house convincingly and the same can be addressed before another buyer shows interest.