Sale Advantages and Disadvantages

If you own an Phoenix condo in Downtown or are a realtor looking to sell a local property, at some point you're likely to consider the prospect of having an open house. However, there are a few advantages and disadvantages to consider before making your decision.

Pros:

New Potential Buyers for REALTOR^�s

New Phoenix condo buyers flock to open houses because it helps them get a sense of how the real estate process operates. The casual atmosphere allows buyers to mingle with other buyers and realtors and ask questions about tips and tricks. In return, realtors often gain potential buyers. The process is a low pressure for buyers.

Buyers Can Examine the Home Freely

Because Phoenix condo open houses typically last a few hours, buyers can investigate parts of the home, take photos, and soak in the results without pressure to leave right away. This real-time research is something buyers cannot gain just by viewing pictures online.

More Exposure for the Neighborhood

A realtor should use an open house as a marketing tool, similar to advertising online or in newspapers. Flyers, street signs, bulletin boards, and word of mouth are other good marketing resources. This level of exposure can increase the chances of selling the home sooner rather than later.

Cons:

Little Chance of a Sale

Its rare to garner a sale or a bid from an open house. This is because the many times the mission, at least from a realtors perspective, is about finding buyers to look at other homes that meet their qualifications. An open house is about mingling and researching, not necessarily for closing a sale.

Nosy People with No Intention of Buying

Some of the people who show up to an open house may have bad intentions. Nosy people and thieves disguised as buyers often come with no intention of bidding or buying the house. Nosy people browse with no purpose, and thieves scope the place out for valuables.

Buyers Can Lose Interest

Continued open houses reek of desperation. If the house does not sell after the first two or three open houses, it means buyers are probably not interested in the sale. REALTOR^�s who only focus on open houses are usually not the best choice for owners looking to sell. A better realtor will use various resources to sell the home for maximum results.

If you're curious about attending open houses for condos, penthouses, and lofts in Downtown, or youd like to view properties at your leisure, get in touch with Engel & Völkers Phoenix. We can help you find your dream home in downtown Phoenix or another neighborhood in Phoenix.