To Have or Not to Have: The Pros and Cons of Open Houses in Real Estate
An open house in Las Vegas won’t hurt your home’s chances of selling, but it’s probably not necessary either. Unless your home is in a popular neighborhood near busy streets, an open house probably won’t drive in a huge crowd. People who are planning to see your home will likely do so with or without an open house.
Not to mention, most people who are looking for a new house are already working with a realtor who regularly updates them with new listings. These prospective buyers get private tours of the homes they’re interested in, typically days to weeks ahead of an open house. Only in seller’s markets do agents sometimes list homes with instructions for no showings prior to the open house.
Let’s go over the pros and cons of an open house and the case for why they’re usually not necessary to sell homes.
Pros of Having an Open House
Even though open houses in Las Vegas have their drawbacks, there’s a reason why they’re so common. Open houses offer the following benefits:
- Low pressure environment. For those who aren’t working with a realtor, an open house offers a comfortable setting where they can look at your home without feeling pressured. This allows for a wider range of people to visit your home.
- Greater exposure. Open houses provide your listing with greater exposure. Your agent will list your open house on social media, real estate websites and more. This informs more people about your home and draws in a bigger crowd.
Cons of Having an Open House
While open houses in Las Vegas do present the opportunity for prospective buyers to look at your home, it’s often others (nosy neighbors, lookie-loos) that visit open houses. Here are some drawbacks to be aware of:
- Slim chance of a sale. Unfortunately, open houses rarely result in a home sale. Estimates report that only 2-3% of homes are sold in open houses. In most cases, it’s private showings that sell homes.
- Unqualified buyers. During an open house, anyone can come through whether they are qualified or not. Ask yourself: Do you really want people walking through your home when they can’t afford it? Probably not.
- Security concerns. Sadly, open houses give criminals the opportunity to explore the home with little supervision. They might “case” your home or steal things right then. Knowing this, make sure you remove all valuable items from the home.
- Inconvenient. Open houses are certainly an inconvenience. You have to spend all morning cleaning and then leave your home for several hours in the middle of the day.
You’re the seller. If you don’t want to host an open house, you don’t have to. In fact, you can skip over all the showings and sell directly to a cash buyer from We Buy Any Vegas House. We’ll buy your home in its current condition! Contact us today for your free, no obligation offer.