Why you should NOT Hold An Open House When Selling Your Beverly Hills Home, When selling property in Beverly Hills, many people are attracted to holding an open house, including me. Beverly Hills buyers also like going to open houses to get a sneak peek before setting up a formal showing, especially if they are not yet decided.
However, there are reasons you may not want to hold your home open for all to see. Let me share a few …
Chances of selling are slim
In many cases, an open house is not necessary for you to make a sale in Beverly Hills. A big percentage of homes that sell have private showings that you can arrange with your realtor. The crowds that show up when there is an open house are, in most cases, just looking and have not yet decided on purchasing. Sometimes, people go to open houses just to look at pretty houses with no intention of buying. It may not make sense trying to convince an on-the-fence or non-performative buyer to buy your home in Beverly Hills.
You can attract unqualified buyers
Anyone can come to an open house, and you may not be able to control or skim through the potential buyers beforehand, ie, it’s not always easy to qualify home visitors. This means that you will get a lot of unqualified buyers attending the open house. A good Beverly Hills real estate agent can ask visitors questions, but it is really challenging to qualify someone on the spot. To maximize time with the best home buyer for your home, great agents pre-qualify before arranging a private viewing.
Beverly Hills home sellers should ask themselves if they want people walking in and out of their homes without knowing if they can afford to buy them. Why waste the time and effort?
If you have ever experienced a home invasion or vandalism, you will realize that there is usually an underlying cause. In my world, I’ve heard of agents telling horror stories of their clients experiencing theft a few weeks after an open house. It’s impossible to say there is a direct correlation. Still, if the open house was busy, there is not a team to watch the house carefully during the open, or there is no security (if warranted), it is possible that an open house could be used to research a home before a theft.
When you hold an open house in Beverly Hills, you can attract all types of people, and some may argue this can include thieves and criminals. It is not easy to supervise, and you give visitors a chance to go through every inch of your house. This allows them to see what you have, how to gain access, where your security may be, etc.
Many people might envy your Beverly Hills home, and some may even live in your neighborhood. As soon as you put that open house sign up, they may come trickling in just to see your personal life without the intention to buy.
Even with all these possible negatives, I still think the benefits of an open house, when done properly for Beverly Hills homes, can be a very effective and safe marketing tool. Nevertheless, it is good to know all the plusses and minuses before you finalize your open house decision.
Are you thinking of selling your Beverly Hills home? If so, you may be considering holding an open house. Feel free to contact our experts for further details or me.