Should I Do an Open House in a For Sale By Owner?

Just as its name suggests, the purpose of an open house is to open the doors of your home and let prospective buyers wander through the space. This is less formal than a showing while allowing you to host many viewers all at the same time.

While an open house is customary in many residential real estate transactions, it is often planned out by the listing agent. But, what if you don’t have a realtor working for you? Should you do an open house if you are selling as a For Sale By Owner?

Can a FSBO Benefit From an Open House?

You may be surprised at how possible it is to benefit from having an open house as part of your strategy when selling your home on your own. If you choose to do so, below are a few of the advantages you may notice.

• Relaxed timing. An open house doesn’t force buyers to arrive at a specific time nor does it require them to get in and out within a certain timeframe.

• More freedom to wander. There is no formal structure to an open house. No one is standing over potential buyers, creating those awkward moments. Rather, here they will be able to see the space and take the time to see themselves in it.

• No agent present if a FSBO. Without having an agent present at an open house, prospective buyers will feel more at ease.

• Visitors can remain anonymous. Many buyers prefer to remain anonymous while visiting an open house. They don’t have to provide any information to attend the event - which makes them more likely to come. If they like what they see, then they will pursue things further.

Convert Buyers with these FSBO Open House Tips

Having an open house when selling as a FSBO makes it rather easy to ‘show’ your home without really having to put in the extra work of meeting each one of the potential buyers.

However, there is a lot that needs to be done before and during the open house to gain a favorable outcome. After all, the hope is that by choosing to open your doors, the right buyer is going to walk right in and put down an offer that you like.

By taking a few - or all - of these steps, you will be able to have an effective open house as a FSBO.

• Scope out other local competition. By checking out other open houses in the area, you can get an idea of what they have to offer, how they are choosing to stage the property, and get a better understanding of the whole process just by going through it.

• Schedule it right. Sundays are the most common day for open houses. You can have yours on any day of the week, but you will also want to have it on Sunday, too, for those who are on the hunt and out making stops.

• Make your open house known. Signs around the neighborhood are always helpful and balloons can grab attention. But don’t stop there. Make posts about it on social media, let those in your circle know to spread the word, have professional-looking signs printed with info and post them at local hot spots, and so forth.

• Stage it right. You never want to just open your doors as-is for an open house. You want it to be clean and free of clutter. Accentuate all the best features and let the others dim as functional spaces.

• Allow guests to roam - cautiously. Don’t follow guests from room to room. Instead, let them roam freely - and come to you with any questions/comments. Though always be sure to greet them when they walk in, as well as when they leave. Safety tip: Have friends or family members attend your open house so that they can keep a distant eye on anyone roaming your halls.

• Serve refreshments. You don’t have to go all out, but serving snacks and treats, as well as a beverage is always appreciated.

Should You Host an Open House as a FSBO?

In addition to saving money, one of the reasons you likely chose to sell your property on your own is to have extra freedom. Deciding whether or not you want to host an open house is entirely up to you.

Are there benefits? Absolutely. Could you easily find a buyer? Of course.

Are you required to have an open house? Not at all.

FSBO Transactions at FIZZBOW

There really doesn’t seem to be a downfall when it comes to hosting an open house for your FSBO property sale. But once you find the right buyer and the real estate transaction gets underway, it is time to team up with a highly skilled title company to ensure everything goes smoothly - all the way through the closing.

At FIZZBOW, that is precisely what we have to offer you.

Contact us today at (571) 407-5479 to learn more about what we do and how we can get you through a successful real estate transaction - without a real estate agent.