The Impact of Access on Home Sales

When you've decided to sell your house and hired a real estate agent, they'll likely ask you how much access you want to give potential buyers. This decision is more critical now than in previous years due to recent changes in the housing market.

During the pandemic, there was a surge in the number of homebuyers who made offers on homes without physically seeing them. This was due to the low housing inventory, intense competition from other buyers taking advantage of low mortgage rates, and concerns about in-person home tours during a pandemic.

However, the current housing market is shifting, and buyers now have more time to explore their options and can be more selective when choosing a home. As a result, your decision on how much access to give potential buyers could have a significant impact on the sale of your home.

To sell your house efficiently, it's crucial to provide potential buyers with as much access as possible. Before informing your agent of your preferred level of access, consider these five options ranked from most to least convenient for buyers:

1. Lockbox on the Door - This allows buyers to view the property as soon as they become aware of the listing or at their convenience.
2. Providing a Key to the Home - This option would require an agent to visit an office to retrieve the key, which is still quite convenient for the buyer.
3. Open Access with a Phone Call - This means you allow a showing with only a phone call's notice.
4. By Appointment Only - This option involves coordinating with your agent to set up a showing at a specific time with advanced notice. This allows you to prepare your home and arrange for alternative accommodations during the showing.
5. Limited Access - This means that you are only willing to make your home available on certain days or at specific times of day. Generally, this is the most challenging and least flexible way to show your home to potential buyers.

As the housing market continues to change, it's essential to work closely with your local agent to provide buyers with as much access as possible to your home during the selling process.