Open houses are a hot topic for debate in West Toronto real estate these days. Undoubtedly, you will pass many signs directing you to the latest open house. Behind each of these signs is a homeowner who is eagerly anticipating the next stage in their life. The idea is for someone to come into the house, fall madly in love, and be inspired to make an offer.
Do open houses actually work as advertised, and if so, when and how should you host one? Today, we’ll explore the ins and outs of open houses when selling your home.
An unbiased assessment of how much your home is worth in today’s market is an excellent first step toward a successful sale. Start by booking your complimentary evaluation with our team.
What Is an Open House?
Digital marketing will only take you so far when it comes to selling your home. It gives you a chance to catch a buyer’s interest, but no one is going to make an offer based on photos alone, no matter how incredible they are.
For a successful transaction, you need in-person showings, and the more, the better. For the most part, these showings are by appointment only.
An open house is different. Instead of having buyers come through one-on-one, you open your doors for a couple of hours on a given day to anyone who wants to come in and take a look. Obviously, there are pros and cons to this method.
There’s no guarantee that the person coming through actually wants to buy your home. It’s inevitable that some just want a free tour. That said, it only takes one buyer for a successful sale, and you never know where they might come from.
A retired or older couple in your neighbourhood might not find your listing online, but they could see the sign for your open house as they go about their daily errands. Allowing them access to view your home on their time and on their terms can be a fundamental step in the buying process.
For a seller, an open house is just one more marketing tool, hopefully with several other techniques working in tandem. For a buyer, an open house is a great way to start surveying the real estate landscape with no real commitment or pressure. It creates a comfortable and accessible environment for a potential buyer who might otherwise not reach out.
What are the keys to making your home look its best? Find out in the posts below:
- 5 Landscaping Tips For Home Sellers
- Home Renovations That Add Lasting Value
- Buyers Are Going Crazy for These Home Features
How Do Open Houses Work?
Buying a home is as much about emotional connections as it is anything else. At the end of the day, it’s simply too difficult to fall in love with a physical space without being able to see, touch, and experience it in person.
Buyers early on in their process might not yet be ready to sign an agreement with a real estate agent. But anyone can go to an open house at any time, with or without a Realtor®.
As the seller, you expand your outreach to more people at different stages of their buying journey. Since you never know when or where your buyer will come from, an open house gives you one more opportunity to reach the right person.
Where will you go after your home sells? You may find some inspiration in our featured listings.
Are Open Houses Effective?
It depends on the situation and who you ask. Everyone has had a different experience. One homeowner might see little to no activity while another is overrun by interested buyers.
If there are enough people searching, an open house can be an opportunity to reach local buyers who want to find something in your area. In a busy market, it could result in multiple offers coming in.
However, as with all real estate methods, you want to make your choice after extensive research. If the market is slow, an open house might backfire by showcasing a lack of interest instead of peak excitement.
We recommend open house marketing as only one aspect of your overall selling strategy. Regardless of the market, your real estate agent will use every available tool to ensure you get the best results.
There’s a lot to think about when selling a house in Toronto. The posts below will help prepare you for a successful outcome:
- What Buyers and Sellers Should Know About Bank Appraisals
- Why Negotiating Skills Matter in West Toronto Real Estate
- What Every Seller Should Know About Home Inspections
Tips for a Successful Open House
Not every home is a contender for an open house. However, if you and your real estate agent decide that there is value, the following tips will help ensure the event is a successful one.
Stay away during the showing.
It might be tempting to stay home and talk to the buyer yourself to let them know how much you love living here. After all, who better to sell your home than someone who loves it as much as you do? However, the opposite is true.
Buyers can feel uncomfortable when the homeowner is present, and they are likely to ask more questions if it is just them and their real estate agent.
Talk to your real estate agent about any safety concerns.
Many people don’t feel comfortable with the idea of strangers in their home, especially when they are not present. It’s understandable, but there are precautions that balance your desire for privacy with the need for maximum exposure.
You can protect your home and your belongings by taking a few common-sense steps, like locking away any private documents and hiding any valuables. Better yet, remove them from the premises if you can.
Create a pet-free zone.
It’s hard to believe, but not everyone loves your furry friend in the same way you do. In fact, some buyers might even be afraid of them. It’s best not to take chances when it comes to the sale of your home.
To welcome visitors, find a safe place for your pet whenever possible. A fun playdate with a family member or friend can set everyone at ease.
Pay attention to curb appeal.
How your house looks from the outside is always critical, but it’s even more so during an open house. A lot of people will decide whether or not to attend simply by looking at the state of your yard. Cutting the grass, pulling out any weeds, and removing debris will go a long way toward enhancing your curb appeal.
Do you want to know more about selling your home with maximum results and minimum fuss? Our West Toronto real estate agents are happy to help. Reach out today at 416-769-3437 or email info@sidorovainwood.com with any questions.
