An open house is an excellent opportunity to showcase your home to many different potential buyers. It is not, however, as simple as just opening your doors to the public and inviting them in. You need to prepare your home, to showcase it in the best possible light. By properly preparing your home you can attract more interest and therefore sell your home more quickly and often at a higher asking price.
Preparing your home begins with your real estate listing. In Toronto, for example, RLPGTA agents say you will have much more competition when selling your home than in small cities, so you need to make your listing as attractive as possible. Consider the features that will make your home stand out to potential buyers and make them want to visit your open house.
You need to consider what kind of homes people are looking for in your neighbourhood. For example, in Etobicoke houses that are suitable for growing families are in demand. In this case you might need to rearrange your home to make it more appealing to families, perhaps by converting an office into a bedroom. You need to make it easy for people to imagine living in your home and having their needs met.
If you live in an area with a distinct style of architecture you should highlight these features in your home rather than hiding them. In the area of the Toronto Beaches, homes often have grand Victorian or Edwardian features but these are often covered up or hidden behind modern furnishings. You should highlight and draw attention to these features rather than decorating in a modern style.
Finally, you should not only prepare your home, but also prepare yourself and your real estate agent for questions from potential buyers. You should know the details of both your home and your town, as buyers who are new to the area may have questions. For example, details about the large number of parks and sports clubs would be important. A real estate agent will usually be aware of these details but you should make sure.
Additionally, you should be prepared for financial questions from buyers who have not done a lot of research yet themselves. Open houses attract many people who are looking to buy a house, but have not begun seriously looking into the process. You should know the basics of financing such as the difference between bank loans, private lenders for mortgages, and other financing options. You should be able to refer potential buyers to a financial institution that can aid them if they are serious about purchasing your house.
If you take the time to prepare yourself and your home your open house will be a success.