Dawn Neumann, the classic definition of an open house is “a time when sellers open their home so that numerous potential buyers can swing by and check it out—no appointment necessary.” When your house is on the market, you’ll be instructed to keep it picture perfect always. This can be difficult when you’re still living in the home and have children or pets who don’t understand the meaning of “keep it clean.” An open house is the perfect opportunity to minimize the disruption to the seller’s life by combining many showings into one. This helps relieve the pressure (a little) on you to keep your house spotless for showings at a moment’s notice and allows interested house hunters the convenience of casually viewing a home without an appointment. This appeals to buyers who are looking for a home but haven’t yet gathered enough information or done enough investigation of the market to be ready to make a decision. They want to “browse” an area on their own before formalizing a relationship with an agent. This relieves them of the pressure that can be imposed by an enthusiastic agent. On the psychological front, an open house can also increase competition for the home. People tend to take the old phrase “Hurry! It won’t last long” with a grain of salt unless they are jostling for position to see a room with five other people crammed into a doorway. This can be a powerful motivator for an indecisive buyer to get off the fence. It can
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