Home Selling in Topeka>Question Details

Barb Banman, Real Estate Pro in Topeka, KS

How valuable are open houses?

Asked by Barb Banman, Topeka, KS Wed Aug 20, 2008

Help the community by answering this question:

Answers

6
Only 3 to 4 percent of Open House will actually sell your property, but it will give you a great opportunity to obtain a feedback of what people are expecting to find in a house in that price range. You never know when a neighbor is looking for a friend or relative and it will be worthy all the effort.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomespecialist.com
2 votes Thank Flag Link Mon Nov 5, 2012
An open house when your property is first placed on the market can be very important, but not for the reasons most homeowners think. Just like with advertising, most visitors to open houses rarely buy the house they come to look at. They may not even know the price of your home when they stop by to visit – they probably just followed an "Open House" sign to your door.

An open house performs a similar function to the neighborhood announcements – it lets all of your neighbors know that your house is for sale, and it practically invites them to come "take a look." Being generally nosy, a lot of your neighbors will take advantage of the invitation.

And they may tell their friends about your house, creating more "word of mouth" advertising.

Of course, there are other reasons for holding open houses, too. Listing agents who "farm" a particular neighborhood use them as an opportunity to meet with other local homeowners who will someday be selling their home. Your agent may hope to list their homes in the future.

Open houses held after your home has been on the market awhile do not usually serve a useful purpose in selling your home. Most of the neighbors already know your house is for sale and open house visitors rarely buy the homes they visit.

However, if you really want more open houses, your listing agent may allow other agents to hold it open. Open houses attract prospective homebuyers and agents hope to convince some of those homebuyers to become their clients.
Web Reference: http://www.barbbanman.com
1 vote Thank Flag Link Wed Aug 20, 2008
Very valuable, if home is priced right or slightly over.

Good luck
Ruth
0 votes Thank Flag Link Mon Nov 5, 2012
The value does vary geographically. In some areas, they actually can help sell houses. (I once owned a condo that was sold via an open house.) However, most agents consider them relatively ineffective (and a large investment of time) in selling that specific property.
0 votes Thank Flag Link Sun Aug 24, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Barb,

In our area doing open houses not only expand our customer base but we do on occasion have the opportunity to write contracts.

In the Venice they are viewed as an important part of the overall marketing plan by most people.
0 votes Thank Flag Link Sun Aug 24, 2008
I agree with Barb, and in the rural and small town areas the neighbors don't even stop by. I think they show the seller and prospective sellers that you are working for your client. But they are just another advertising tool and I don't think I have ever sold a house from an open house. Also I think if you can you should not sit alone at them, they are sometimes lonely and potentially dangerous.
0 votes Thank Flag Link Sun Aug 24, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer