If you own real estate in Gaslamp Quarter or are a realtor looking to sell a local property, at some point you’re likely to consider the prospect of having an open house. However, there are a few advantages and disadvantages to consider before making your decision to move forward.
New Potential Buyers for Realtors
New buyers flock to open houses because it helps them get a sense of how the real estate process operates. The casual atmosphere allows buyers to mingle with other buyers and realtors and ask questions about tips and tricks. In return, realtors often gain potential buyers.
Buyers Can Examine the Home Freely
Because open houses last a few hours, buyers can investigate parts of the home, take photos, and soak in the results without pressure to leave right away. This real-time research is something buyers cannot gain just by viewing pictures online.
More Exposure for the Neighborhood
A realtor should use an open house as a marketing tool, similar to advertising online or in newspapers. Flyers, street signs, bulletin boards, and word of mouth are other good marketing resources. This level of exposure can increase the chances of selling the home sooner rather than later.
Little Chance of a Sale
It’s rare to garner a sale or a bid from an open house. This is because the mission, at least from a realtor’s perspective, is about finding buyers to look at other homes that meet their qualifications. An open house is about mingling and researching, not necessarily for closing a sale.
Nosy People with No Intention of Buying
Some of the people who show up to an open house may have bad intentions. Nosy people and thieves disguised as buyers often come with no intention of bidding or buying the house. Nosy people browse with no purpose, and thieves scope the place out for valuables.
Buyers Can Lose Interest
Continued open houses reek of desperation. If the house does not sell after the first two or three open houses, it means buyers are probably not interested in the sale. Realtors who only focus on open houses are usually not the best choice for owners looking to sell. A better realtor will use various resources to sell the home for maximum results.
If you’re curious about attending open houses for condos, penthouses, and lofts in Gaslamp, or you’d like to view properties at your leisure, get in touch with 92101 Urban Living. We can help you find your dream home in the Gaslamp Quarter or another neighborhood in downtown San Diego. Give us a call today at 619-649-0368 to schedule an appointment. ')}