Are Open Houses ACTUALLY Helpful For Selling A Home?

If you're selling your home, you might be wondering how to attract potential buyers and showcase your property in the best possible light. One effective way to do this is by hosting different types of open houses. While you can sell your home without doing any open houses, they can be a great way to get additional exposure and have some other great benefits too!

The most common types of open houses, that we will discuss in this post are: "VIP" open house, a broker open house, and a public open house.

VIP Open House

A VIP open house is an invitation-only event that your realtor hosts for a select group of potential buyers, usually 100 or so neighbours. This type of open house is typically held on the day or day before the home is listed on the market. By inviting a select group of people, your realtor is able to create a sense of exclusivity and urgency around your property, making potential buyers more likely to act quickly if they're interested.

It’s a great way to give “nosy neighbours” their own time to see the home so they aren’t as likely to take up all your realtor’s attention during the public open house(s).

Neighbours also may be thinking of up or down sizing, or may have friends or family members who are interested in the area. People (especially in London) don’t tend to move far!

Other Benefits:

• Generates buzz and excitement about your property before it hits the market.

• Helps your realtor identify serious buyers who are genuinely interested in your property.

• Creates a sense of urgency among potential buyers, which can lead to quicker offers and a faster sale.

Agent/Broker Open House

An agent open house is an event that your realtor hosts specifically for other real estate agents and brokers in your area. This type of open house is usually held as close to the listing date as possible and follows the specific suggested days that different areas have. In south London, for example, the suggested day for a broker open is typically Thursday. I’ve had great turnout for broker open houses I’ve hosted over the years and often social media savvy agents who attend will post some photos or a quick video of the listing for their audience to see, which increases exposure even more!

Other Benefits:

• Gives real estate agents and brokers in your area an opportunity to preview your property and get a sense of its features and amenities.

• Allows your realtor to network with other agents and brokers who may have clients looking for a property like yours.

• Generates additional exposure for your property within the real estate community.

Public Open House

A public open house is the most traditional type of open house and is open to anyone who is interested in viewing your property. This type of open house is usually held on a weekend and typically lasts for a couple of hours. Hosting an open house provides an excellent opportunity for potential buyers to view your property in person and get a sense of its layout, features, and amenities.

Other Benefits:

• May reduce the number of booked showings slightly as people will come to the open house, so you won’t have to prep and leave as often.

• Generates buzz and interest in your property, which can lead to additional offers and a faster sale.

• Allows your realtor to connect with potential buyers and answer any questions they may have about your property.

With all that being said: I do believe that hosting different types of open houses can be a highly effective marketing strategy for selling your home. A VIP open house can generate buzz and excitement before your home is even listed, while a broker open house can provide additional exposure within the real estate community. A public open house allows potential buyers to view your property in person and connect with your realtor. If you're planning to sell your home, it would be a great idea to discuss with your realtor how they plan to leverage open houses as a part of their marketing strategy. With the right approach, open houses can help you sell your home faster and at a better price.