Open House VS Private Showing | What is Better for a Home Seller?

When you are selling your home, there are a couple of options to allow buyers to view your property. You can choose to have an open house or stick to private showings. There are advantages and disadvantages to both methods of real estate showings, but which is best for you? Let’s review your options and compare having an open house vs private showing.

Open House VS Private Showing: What’s Better?

Choosing between the two approaches can be difficult if you don’t know the benefits and drawbacks involved. Let’s take a look at a private showing vs open house.

Open Houses

Pros for Sellers
You might be told that opening up your home to buyers is helpful in motivating someone to purchase. The truth, however, is that there isn’t much upside to having an open house. Real estate agents tend to like them because they enable them to market their business. They get to advertise in your front yard and talk to potential clients that attend your open house, but the benefit to the seller is minimal.

Pros for Buyers
As a buyer, they can attend your open house without making an appointment. They also don’t have to be qualified for a loan, so they can see the sort of homes that are available before they begin the mortgage pre-approval process. Nor do they have to give an agent their correct name and contact information.

Cons for Sellers
The chances of selling because of an open house are very low. While it’s true that sometimes open houses do lead to a sale, it would have likely happened anyway. If someone is interested in your home, they will make an appointment if they are really serious. With most people looking online for their next home, there seems little need for open houses as a way of marketing a property. What is more, most of the people attending your open house won’t have any intention of buying. Some won’t be qualified to purchase, lacking the pre-approval from a lender, or be very early in their home-buying process. Others will just want to have a look around your home because they are nosy neighbors or people who have nothing else to do.

Cons for Buyers
Other than being pestered by your agent, who is looking to offer their services, there really isn’t a downside for a buyer. They will be required to give their details, and this can be used by your agent to follow up, that is if they provide accurate information.

Private Showings

Pros for Sellers
You will only have qualified people scheduling a private showing. They will be serious about purchasing a house like yours and have their finances ready to make an offer if they like what they find.

Pros for Buyers
With a private showing, buyers will be able to take their time viewing your home and do so without interruption from others. They’ll be able to discuss right then and there and share their thoughts with their agent.

Cons for Sellers
It is better to be out of the property during a showing, so this could mean a lot of inconvenience to your life. You will also have to keep your home in a pristine condition until you find a buyer.

Cons for Buyers
They can’t just arrive at your property and be shown around, they have to make an appointment. They will also need to be pre-qualified and screened by their real estate agent.

Final Thoughts

While decades ago an open house may have been a great strategy to sell a home with a minimal amount of inconvenience that is no longer the case. Now, open houses mainly attract nosy neighbors, looky-loos, and criminals. So in today’s real estate market, the best way to keep your home and family safe is with private showings. This not only keeps strangers out it only allows qualified buyers who can actually purchase your home in. Yes, you will be required to keep your home pristine and be inconvenienced with showings throughout the week, which selling with kids can be tough, but odds are you’d have to do this even if you had open houses.