The Benefits of an Open House (For Buyers & Sellers)

Buying and selling property can be a long and annoying process. Sellers become frustrated with always ensuring their house is looking clean and tidy, as well as organising their time around potential viewings. Buyers on the other hand get frustrated with offers being made on properties that they are yet to even view.

Then there’s the element of communication that needs to be consistent with the agent; ensuring viewing arrangements can be another added stress factor.

A great way to solve many of these problems is to conduct open house viewings. They can be daunting – for various reasons – for both buyers and sellers, but there are some benefits that should be considered before passing on the idea.

Benefits for sellers

Time saver

The burden of having to clean before every viewing is very real. Not only this, each viewing often ends up with sellers having to answer the same questions over and over again, which also becomes tedious.

If you’d rather avoid that, then hosting an open house would be beneficial. It means you’d only have to answer the same questions in one go and clean your house just once for the benefit of more than one buyer. You’d have to chance to impress many buyers all at once and not individually.

Added convenience

There’s also the benefit of convenience. You wouldn’t need to keep taking time out of your daily schedule to host separate viewings – a potential possibility if your property sale is attracting a lot of interest. An open house lets you get most of the viewings done and dusted all at once.

A faster sale

Open houses can increase the chance of a quicker sale, since potential buyers can evaluate the level of interest due to the number of attendees. If they’re genuinely interested, they may be more likely to submit an offer quickly due to fear of potentially missing out.

 

Benefits for buyers

Assess interest

Sellers can often end up overselling interest in their property, but open houses allow you to see for yourself what the level of interest really is. This will then allow you to make a decision on if and when you want to make an offer.

Explore at your own pace

Single viewings can often be awkward and nervous experiences that don’t allow you to explore as much as you really want. Open houses will allow you to explore with complete freedom, meaning no awkward situations or the need to rush. This will provide you with a greater insight into the home and what you may end up buying, making the decision an easier one.

Get some answers

Open houses also allow you to ask questions and (hopefully) get answers. Ensure you remember to actually ask the questions and not get caught up in the hoopla, otherwise you’ll get back home and realise you forgot to ask that burning question!