An open house is a chance for you, or anyone else in the neighborhood, to go see a house that you are interested in. Also, it is a chance for potential buyers an agents to gauge just how interested others are in the house. If no one shows up to an open house besides you, it could give you some leverage in the negotiating tactics. If a lot of people show up, then a seller knows he is good.
- If a lot of people do not show up to the event, then the people know that they have some leverage.
- It is a good time period to gauge the level of interest for the potential amount of buyers.
- It is easy to distinguish whether or not someone has a fair asking price when looking at these events.
“Eileen Oldroyd, owner of Oldroyd Realty in Southern California, agrees that open houses are generally more of an inconvenience for sellers. “I’m very honest with them about the pros and cons,” she says.”