The Pros and Cons of Open Houses

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My clients fall into two camps about holding an open house to sell their homes: some are eager to hold one while others question if such an event is worth the time and effort.

Who’s right? It depends. You must weigh the open house pros and cons.

Here’s the positive: An open house is an easy way to passively market a home. You put an ad in the newspaper and set out a sign advertising the open house, and potential buyers often show up. Homes are sold 4 percent of the time through open-house events.

Now here’s the downside: If you’re not actively contacting people to show up, the only attendees could be nosy neighbors and unqualified buyers.

Plus, here in Naples, Florida, using an agent is free for the buyer. So why wouldn’t you use an agent to schedule regular showings instead of holding an open house? And, unfortunately, some agents who hold open houses are more interested in gaining leads to sell other properties rather than producing exposure for you and your home.

To hold a proper open house, send invitations and follow up to make sure invitees are coming. That way, you target qualified buyers and could reach other potential buyers who otherwise would not hear about your home.

Have questions about buying or selling a home in the Naples area? Call or email The Saad Team today so we can help.

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