After you have made the necessary home improvements, repaired whatever is broken and posted your property on listing sites, it is too soon to relax. Your house is not going to sell by itself, and you need that final push to get it sold at the best possible price.
An open house would provide you that finishing touch.
No matter how many times they say it is overrated and an absolute waste of time, nobody could deny its practical benefits:
Giving Buyers the Liberty to Tour by Themselves
Imagine you are the buyer: would spend a serious amount of pounds and purchase a property you have not even seen up close? Of course, not. Sure, anyone could schedule a private showing, but most people love to tour the house they are eyeing to buy under the radar.
An open house sets up a relaxed atmosphere where interested buyers could sightsee at their pleasure. It empowers them to roam freely without being pushed to buy.
Creating an Air of Competition
In every open house, a handful of truly interested buyers attend most of the time. Those who are positive they want your property would often make a good case for themselves. This setup brews silent competition, thus inducing a sense of urgency to play their cards right to get your nod.
This is healthy for you, as it gives you some leverage on the negotiation table. Because you have a number in mind, you could use the different asking prices you get to your advantage.
Sealing the Deal
Experienced online real estate agents are not only excellent hosts of open houses, but they are also skilled in getting your property sold with the right buyer. An open house attracts all prospects, and eliminates those half-hearted. If one requests for a second visit, you could leave the job to your agent and consider it done almost 100% of the time.
Holding an open house means extra work, but it usually pays dividends. Instead of waiting for prospects to contact you with the photos you uploaded online, give them another reason to come in the flesh.