Open Houses `101'

Holding an open house can be extremely beneficial for both you and your agent. For you, it's a chance to vastly increase the profile of your home on the market. Particularly if you're in a high-traffic area, drive-by and foot traffic can bring in a lot of visitors. Even if they're not serious buyers, they may know someone who is. Your agent will reap the benefits, too. An open house gives agents the opportunity to meet people who can be a source of future business even they don't buy your home.

If you decide to hold an open house, your agent will take care of the details such as arranging signage and collecting information about the people who arrive to inspect your home. However, there are several things you can do to make sure the day runs smoothly and your property is presented in the best possible light.

 Arrange for a friend or relative to take care of your children and pets for the day. It will be much easier for you and your agent to talk with prospective buyers if you don't have to keep an eye on children or dogs at the same time.

 It's a nice gesture to let your neighbors know a few days in advance that you're planning an open house. If you're on good terms they may agree to help you out by making sure their own properties look good on the day.

 Make sure your home is clean and clutter-free. Crowded rooms look smaller, and it will be harder for buyers to imagine how their own furnishings will look in the house. Make sure all valuables are locked away out of sight.

 Clean up the yard as well as the interior. Mow the lawns, rake leaves and make sure no tools are left lying around.

 Making your home attractive to potential buyers is more than just cleaning up - the smells of fresh coffee or home baking, for example, can help make people feel more relaxed and at home.

 Be ready 15 minutes early - if you're scheduled to start at 2 p.m., be ready for visitors by 1.45 p.m. You're bound to end up with one or two early-birds.

 Your agent will most likely have a sign-in sheet for visitors. If not, prepare one and ask visitors to sign with their name, contact details, and how they learned about the house. This will help you determine how effective your advertising is.

 Anticipate the types of questions prospective buyers are likely to ask. For example, get copies of fare rates and schedules for public transportation systems, and find out the walking distance from your home to nearby commuter buses or trains.

 Be prepared for people who aren't serious buyers. You'll likely attract plenty of people who aren't interested in buying, but they may know someone who is, and the more people who know you're selling, the better.

 Don't volunteer too much personal information. For instance, don't say anything to prospective buyers about your motivation for selling. If you're anxious to sell quickly you don't want buyers picking up on that, as they can use it as leverage in negotiating a lower price.

 Listen carefully to potential buyers' questions and comments to find out what they're looking for in a home. If they seem interested in school-related matters such as district boundaries or the quality of schools in the areas, try and work in other relevant facts to your conversation, such as nearby parks or day-care facilities.