There are many things you can do to sell a property in Montreal, and it’s the combination of some of them that will make your sale a success. However, not all strategies are created equal. Choose the ones that really work to avoid wasting your time.
Will an open house benefit your Montreal home? Will it be worth your time and money? In this article, we present the pros and cons of holding an open house. You’ll be well equipped to decide whether or not this is the right method for you.
The pros and cons of holding an open house in Montreal
Pros:
More visibility
The fact is, you won’t necessarily find a buyer at an open house. In fact, most homes are sold following a private viewing. However, when you want to sell a house, it’s a good idea to make sure as many people as possible know about it. Your nosy neighbors may cross the street to visit. Obviously, they won’t buy your house. But they might know someone who wants to do it. An open house will pique your neighbors’ curiosity and get the word out. More visitors can never be a bad thing.
A pleasant environment for buyers
At an open house, all kinds of people turn up. Some people just like to visit houses for fun. Others make same-day offers. But what everyone appreciates is being able to walk around without feeling rushed by a salesperson. This allows visitors to see how they feel on the property, and gives them time to imagine themselves living there. While a private tour offers a more personalized service, an open house allows visitors to visit at their own pace.
Cons:
Stress
Most vendors leave while the open house is going on. Staying could make everyone uncomfortable. You probably don’t want the world judging every little detail in your home, and buyers don’t want to feel like they’re invading your space. Even less do they want to feel that you’re following or watching them. That’s why you’ll need to clean until the house is spotless, then hit the road. Plan something to keep you busy for a few hours. Cleaning and tidying up the property, then leaving and wondering who’s wandering around can cause a lot of stress!
A question of safety
Speaking of people walking around your house… It’s worrying, isn’t it? Thieves can take advantage of open days to seize your valuables. We therefore strongly advise you to keep them out of sight, ideally with a relative or in a safe. Remove all your personal belongings so that nothing disappears. Some people also take advantage of open house days to put a property under surveillance. Most agents know how to keep an eye out for this sort of thing, but some owners choose to send a friend to scout, just to make sure everything goes according to plan.
Unqualified buyers
Holding an open house will attract all kinds of people. There may be people who will stop on their way and make a verbal offer. Bids from unqualified buyers are a major source of wasted time. Arrange with your agent to accept offers from pre-qualified candidates only.
Holding an open house is not an end in itself. Rather, it’s a means used by many agents to increase their own visibility. And if you think that’s a bad thing, think again. A real estate agent who knows how to promote himself and who knows all kinds of people will have no trouble reaching a public interested in your home. Any visibility is good for your property. You simply have to be realistic, and not expect to receive all kinds of serious written offers on the day of the visit. Don’t just hold an open house, but if you have an agent who uses ALL the resources at his disposal to sell your home, make the most of it!
