04/26

If you are in the market to sell your home, you might want to think about prepping for an open house.

Yes, you heard that right.

While most people attribute open houses to an “old-fashioned” method to real estate selling, Redfin has come out with some hard facts to state the opposite.

Home sellers in the U.S. are making almost $9,046 more on average just by hosting open houses. In San Francisco alone, homes sold for 7.9% more than those who didn’t hold an open house event.

Not only are open houses helping the sales price, but they’re also helping push it out of the market at a faster rate. In Miami, open houses during the first week on the market typically went under contract within 27 days – those without sat on the market roughly for 38 days.

Why do consumers love open houses, when they could easily just search for images and videos of the home online?

Redfin agent, Jessica Johnson, comments: “When homebuyers see other people at an open house, it can motivate them to place an offer more quickly than they otherwise would.

Attending an open house also allows potential buyers to visualize the space and how they would fit into it.