Important points
Open houses are a powerful tool for generating buzz, maximizing visibility, and driving high volumes of traffic in a short amount of time. Private showings are reserved for pre-qualified, serious buyers and provide a targeted, personalized experience that leads directly to an offer. A combination strategy of open houses for launches and private showings for serious prospects is often the most effective way to maximize sales price.
Deciding how to present your home to potential buyers is an important consideration in the sales process. As a seller, you have two main options for allowing buyers to view your property. It’s a traditional open house or viewing session.
Both methods are effective at generating interest and securing offers, but the ways in which these goals are achieved are very different. As you prepare to sell your home in Salt Lake City or Rockford, this Redfin real estate article will help you choose the right approach depending on your market, desire for control, and overall sales schedule.
Open House: Maximize Visibility and Generate Buzz
For sellers, open houses are a great way to start the sales process and build momentum. This creates a sense of urgency and competition among potential buyers. Seeing other people looking at the property often makes you feel pressured to act quickly, which can prompt an earlier offer and possibly a bidding war. Additionally, screenings will be concentrated at convenient times to reduce disruption to daily life.
The downside is that you can’t control who walks through your home. It can attract a casual audience who aren’t serious about purchasing, which means foot traffic with no guaranteed return. You’ll also need to prepare your home for a large audience, including managing parking and ensuring all your valuables are safe.
Private Showing: Caters to Serious Buyers
Showings are necessary to turn strong interest into a final offer. Pre-qualified buyers arrange these reservations through agents, so you know your visitors are serious about buying your home. This controlled environment allows you to focus without being distracted by other viewers and gives you the opportunity to imagine yourself living in the space.
This method also provides a valuable feedback loop. With a buyer’s agent present, the listing agent can often get more detailed and honest feedback about the home’s price, condition, and staging. This information can be important if you need to adjust your sales strategy. The main inconvenience is the need for flexibility, as individual commitments may require you to leave your home multiple times a week.
What is the difference between an open house and a preview?
An open house is a promotional event where your home is open to the public during a set time, usually on a weekend. It’s a low-barrier way for anyone, from curious neighbors to potential buyers, to tour the property without an appointment. It’s designed to quickly expose your listing to large numbers of people at once.
Private shows are scheduled one-on-one appointments. This viewing will be arranged at a specific time through your agent and the buyer’s agent. This is a highly controlled environment where the only people present are the prospective buyers, their agents and, in some cases, their families. This personalized approach gives serious buyers dedicated time to inspect the home.
Which method should you prioritize?
The most successful sellers typically utilize both strategies. Think of your open house as your grand opening. Use it within the first week of listing to attract people and generate initial interest.
After the initial buzz, the focus is on private screenings. These are high-value promises that lead to a purchase agreement. If a buyer views your home at an open house and then requests a viewing, they’ve mentally transitioned from casually considering an offer to seriously considering an offer, so you should make it a priority to respond to their request.
FAQ
Should I stay home during private screenings?
No, you must leave your home during the open house and viewings. Buyers need to feel comfortable talking about the property and seeing themselves living there. Your presence can spoil their experience by making them feel rushed or awkward.
Do open houses attract a lot of non-serious buyers?
Yes, open houses often attract casual visitors, neighbors, and people just starting their home search. This means more traffic, but it also serves a marketing purpose by getting your home noticed and talked about within the community.
How far in advance should I book an open house?
Open houses should be scheduled to take place within the first few days or the first weekend after a home is listed. Early exposure is key to creating momentum and encouraging quick offers.
Can I set requirements for private screenings?
absolutely. Through your listing agent, you can require buyers to be pre-approved for a mortgage before accepting your viewing request. This ensures that only financially serious candidates will spend time in your home. If time is of the essence, you can also set up specific times for private screenings to fit your schedule.
