It is easier to view houses up for sale today than in
previous years. With the advent of the Internet, a buyer
can browse listings of properties for sale. There are
websites that even show pictures of properties for sale,
and these websites even have reviews and descriptions
of each house on the market. The conduct of an open house,
which was once a major avenue for buyers and sellers
to interact, is now deemed as impractical.
Many real estate experts believe that the holding of
open houses bring more contacts than actual buyers. Usually,
those who hold open houses do not get enough buyers-
some say the chances of getting a serious buyer in an
open house is as measly as 2%. The advent of the Internet,
particularly Internet technologies such as video blogging,
has made the conduct of open houses look Jurassic. In
the mid-90s, only 3% of home buyers were able to get
their dream properties through the Internet. In 2007,
at least 77% of them were able to shop for properties
online. Today, a seller who wants to get more potential
buyers can simply take pictures or video clips of his
house and post it in a blog. It is more convenient and
inexpensive. The time and effort saved by the seller
by opting for the Internet has made the holding of open
houses less attractive.
What has made the conduct of an open house less attractive
to sellers is the issue of privacy. Many sellers are
hesitant to let complete strangers enter their properties
and have virtually unlimited access to their house. Usually,
sellers only open their house to serious buyers so that
there are reduced chances of any untoward incident.
The rise of various websites that cater to houses for
sale has also led to the wane in the popularity of open
houses. Most people would rather go online and surf for
houses on sale than waste their time on attending an
open house. Convenience is a major issue here, as any
individual can look up for houses for sale through the
Internet. A buyer also does not have to wait for an open
house to be conducted. There is no need to spend a couple
of hours driving around a neighborhood. Looking for houses
on sale online can be over in an hour or so.
However, there are some instances when holding an open
house makes sense, particularly for sellers. By conducting
an open house, a seller instantly gets feedback on what
is good and what is not about their property. However,
holding open houses too frequently may backfire for a
seller since it may signify that the property is hard
to dispose.
Most experts say that with the waning popularity of open houses, the only time
holding of such is practical is when it is conducted properly. Thus, sellers
should make the house as attractive as possible. It also helps to conduct extensive
advertising prior to the holding of the open house.
