Home Selling in 21075>Question Details

Aleksey, Both Buyer and Seller in Elkridge, MD

Does 'Open house' help to sell?

Asked by Aleksey, Elkridge, MD Wed Mar 4, 2009

We're trying to sell our townhouse and we're wondering whether we need to have "Open house(s)". We have a good house in a good neighborhood, well maintained but without any upgrades. It's clean and uncluttered (as it can be with 2 kids and hundreds toys) but nothing special to look at. We don't see a lot of value in an "Open house" because personally we would go to them just to browser and when we are not ready to buy.

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I have to agree with each of the 3 responses so far. What many seller's don't know is that agents usually hold open houses to generate future business for themselves. But with that said, in this market it is not a bad idea or harmful to have an open house. The majority of the traffic that attends open houses are neighbors and that irritates some people. I see it as an advantage because my getting neighbors in to the house, they have the opportunity to choose their own neighbors by recommending the home to friends and family. I hope this helps a little bit. I also was unclear whether or not you are working with an agent. In this market, it is virtually impossible to sell a home on your own. If I can answer any other questions, feel free to contact me at LDevnew@cbmove.com

Best wishes!
Lisa Devnew
Coldwell Banker
1 vote Thank Flag Link Wed Mar 4, 2009
It depends on the property. I have held open houses on properties that hadn't had a lot of traffic. Sunday afternoons are a good time for people to just ride around an dlook at houses. I had a couple come through that said they had seen the property online but because it was only 2 bedroom - discounted it. They fell in love with the privacy and floor plan and made an offer that day! I listed their house which they had a lot of equity in and we were able to close before their current house closed.

I usually do something special - coffee, cookies or something to encourage attendees to "hang out" and chat. Also, I use a small survey to capture names, emails and phone numbers and questions like "would you like additional information on . . . 1) mortgage rates, 2) home renovations, 3) current property values, 4) foreclosure properties etc.
2 votes Thank Flag Link Wed Mar 4, 2009
Open Houses can help sell your home, though it is a combination of factors that make a sale. Our team always has at least one Open House on properties we list. We have found that making the home as accessible as possible to as many prospective buyers is very important. Though it is not often that an Open House has sold the home, many times it has definitely helped.

We would not recommend having any house Open every weekend Saturday and Sunday, in fact we have found that over exposure can actually hinder the sale. Too many Open houses can actually make the sellers and listing agent look as though they are desperate, which never helps a sale. It also does not make much sense to have an Open House if the property is not conducive to one, i.e. shows terribly, land, tear down, etc.
An Open House is there to showcase the house to the prospective buyers, neighbors, etc. With an informed agent handling an Open Home he/she should be able to help answer questions as well as give the prospects information on the qualities of the home and the neighborhood. It also, can be a good way for an agent to meet prospects whether buyers or sellers for future business.

Good Luck,

BOYENGA TEAM

Intero Real Estate Services

Silicon Valley Specialists
Office: 650.357.5760
JANELLE: 408.373.1660
ERIC: 408.506.3942
Fax: 408.516.5820

Email: Homes@Boyenga.com
Website: http://www.Boyenga.com
Website: http://www.MLStools.com
"Guaranteed Results through Teamwork"
1 vote Thank Flag Link Wed Mar 4, 2009
You have received some very solid advice in the previous answers. My Team and I have sold a few homes over the years directly through open houses. Also, more and more buyers this time of year begin their search on-line and by visiting open houses. Some agents will even send their "just starting to look" buyers to specific open houses. Finally, a few neighbors typically stroll in - but who really cares! They may know people thinking about buying as well.

The more people that see your home, the better. Scheduled agent driven showings are the best and typically the most qualified types of buyers, but why not give your home every chance. While it should never be your only effort, it can never hurt.

Greg Kinnear
Re/Max Advantage Realty
Team Kinnear
Web Reference: http://www.teamkinnear.com
1 vote Thank Flag Link Wed Mar 4, 2009
For the last 3 years now, the National Association of Realtors' stats show that you have less than a 1% chance of producing a buyer for your home as a result of the open house. So, the answer is NO.

Certainly it can't hurt, but not necessary. Many agents do it to generate buyers for other homes. And certainly it is possible. Also many agents will state that it works, but the stats are true....less than a 1 in 100 hundred chance.

Have you listed your home yet? Let me know if I can show you my marketing plan with proven methods that work.
Web Reference: http://www.123move.net
1 vote Thank Flag Link Wed Mar 4, 2009
Like most people on her have said, it depends on where your house is. There are some areas that don't work as well as others. However, I have heard that while open houses help you to get more people in to see your house, it's harder for them to have a more in-depth look at your home, which more serious buyers would normally want. You can either blast your home with possible buyers with an open house, or you can focus on getting serious buyers into your house to have a personal, in-depth experience. http://martincountyinsideout.com/
0 votes Thank Flag Link Tue Nov 18, 2014
Open houses are completely unnecessary to sell a home. Real buyers will always schedule an appointment to see a home they are interested in viewing. The real benefit of an open house goes to a Realtor who will use the opportunity to prospect for business. What some real estate agents won't tell you are the security risks to an open house. There are many homeowners who have been ripped off by opening their homes up to anyone with a pulse.
0 votes Thank Flag Link Tue Nov 18, 2014
Actually I recently sold a home based off of an open house. It is a rare as ever occasion, but it happens.

If you hold open houses, do not do it every week, hold one everytime you have a price change, or something updated
0 votes Thank Flag Link Fri Jun 28, 2013
The statistics show that Internet marketing brings in 96% of buyers, while open houses 46%. If these numbers speak to you, then you can make a more informed decision!
0 votes Thank Flag Link Fri Jun 28, 2013
Most agents will tell you that Open are a waste of time - and sometimes they are. But in a slow market; you must use every method to try and market your home. The number of sale that come directly from Open Houses are a little less than 5%. So do you just want to do 95% of the things to sell your home?

Another fun fact I share wit people - BEFORE I was a Real Estate agent; I bought my last 2 homes from seeing them at Open Houses AND I had an agent!
0 votes Thank Flag Link Wed Mar 4, 2009
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