The following is part of our series of exclusive excerpts from REW One Member ’s book, , a practical and easy-to-read guide all about buying and selling real estate in BC. This excerpt has been modified slightly to fit our style guide and design requirements.
I love open houses because they make life easier for my sellers, particularly during the first week their home is listed. Rather than juggling individual appointments at different times throughout that week, many agents will opt to come through the open house with their clients or even send the buyer through on their own. It’s especially helpful for families and sellers with pets or tenants, to be able to plan for two or three open houses during the first week, rather than countless separate appointments.
Open houses are often scheduled on Saturdays and Sundays from 2 to 4 p.m., but this varies. Sometimes an agent will choose a different time if it’s advantageous, such as a Saturday morning if the eastern light is stunning — or if they choose to serve mimosas and muffins.
Open houses increase the number of people who will view your home in person — and that’s usually a good thing.
*Did you know?
There are instances when it’s better not to host an open house, such as during a buyer’s market (when supply is greater than demand). Some U.S. and Canadian markets experienced this scenario during the last half of 2023 when interest rates rose quickly in both countries. The high rates created uncertainty and reduced affordability and therefore, lowered demand. Your agent may advise you not to have an open house so qualified buyers don’t see how few other buyers are interested.
If your home faces a busy street, they may also want to skip the open house. In this case, your agent may want to show your home individually so they can create the best conditions for the buyer, with closed windows and soft music playing, for example. At an open house, a buyer who wasn’t previously concerned about traffic noise may hear other visitors discussing the sound and turn them off the location. That buyer may decide not to offer or may offer less, because of comments others make while touring the space.
The right marking strategies are different in every situation. You and your agent will work together to decide how to best show your home. For example, will you use a combination of one-on-one appointments with qualified buyers and open houses for everyone or choose one or the other? If you do opt for , will your keys be in a secure lockbox on the property for buyer’s agents to access or will your agent personally show your home? In any case, your agent will give you as much notice as possible so you can return your home to showing condition.
Security tip: Regardless of whether you choose private showings, open houses or a combination, it’s smart to remove or lock up valuables, particularly small items. It’s rare for things to go missing during open houses and appointments, but it’s prudent to store jewelry, small electronics and other precious items out of sight.
