Don't be fooled by the 30-Minute Real Estate programs that seem to SELL the home as soon as the Open House ends. More often than not, it just doesn't happen that way. I can only speak for myself, but I've never personally sold a home from an Open House. Most Sellers want their Agent to hold the house open, but typically traffic from serious buyers is slow and the neighbors stop by to eat free snacks and check out your bedroom furniture.

Most buyers begin their search online and plan which homes they're going to see in advance. Occasionally there will be an Open House in one of the neighborhoods they've already planned to see and they'll stop by to check it out.

Most of the time neighbors come inside because they're curious what kind of stuff you have and how you live.

Occasionally, if held on the weekend, buyers on patrol will stop by if the house has good directional signs to it. In all my years of doing open houses, never has the house been sold to an open house visitor.

I have picked up a few buyers and a couple of sellers in the same neighborhood. So, from my point of view as a Realtor, yes, they work for me. For a seller, it would be a rare case to call it worth your time.

I almost never get buyers from them, but I do get sellers.
Others in the neighborhood see the signs, see the marketing and often come to see what the neighbors house looks like.
They want information on the neighborhood, home prices, etc.
It makes the current sellers feel good, but I almost think it is pure luck if you get a buyer out of it.
Sometimes too the neighbors might know of someone wanting to move to the neighborhood and want to check out the house for their friends and family.
Often just depends on the neighborhood though who comes through.
I am never wasting time though at an open house. I bring my phone list or some project to do.
You can write thank you cards, call contacts, call around the neighborhood, or lots of other things and not just sit.
I also typically do them only in vacant houses if possible. That way you're not letting in strangers to wonder around a house.

Chris,

The statistics are that 2% of all residential real estate sell through open houses. That means 98% of the time homes are sold through a qualified buyer looking at a prospective home that is priced right, in good condition, and a great location. Price, Condition, Location = Sale!

Your home has a higher chance of selling for more and in less time than if you price it higher and have open houses. Most of those who will come by are your neighbors. Serious buyers are generally contracted with a Realtor who is taking them to see homes that meet their needs. Open Houses typically are a way for a Realtor to gain prospective business and market their services.

Do you want lookers? Or, do you want qualified buyers? Your choice.

Hope that was helpful!
Nicole Arenas, Realtor

Hi Chris
As agents, and as you can clearly see from the responses, we all have different experiences and modes of doing business. The success of open houses seems to vary from state to state, town to town. I can only speak for my area.. Here, they have not been shown to generate buyers often enough to make them worthwhile (in my opinion and from my experience).

Open houses can be a source of new business for the agent. Most of the time, newer agents are eager to sit on open houses in order to try and pick up new buyers. Yes, you get the neighbors coming by to take a look, and if it's an upscale neighborhood, you may get people wo want to see what homes in that part of town look like. You also get agents who send their buyers over, rather than taking the time to show it themselves!

My feeling is that there is no "quality control" in an open house.l You don't know who is walking through the door. In this age of safety concerns, I prefer not to invite random strangers in someone's home . If someone is a serious buyer, they will most likely either be searching the internet and call, or find an agent who will make an appointment to show them the home. I don't exclude open houses from my marketing plan, but I do have a discussion with the sellers, explaining the pros and cons, and leave it up to them. Open houses may be more useful in the lower price ranges.

Again, I am only speaking for MY area, as I know in Manhattan, open houses are a viable way of attracting buyers.
Chris - I suggest you ask an agent from your area what their experience has been, and use that as your gauge. What happens here in NJ, or in CA or elsewhere may not be useful to you.
Best wishes...
Debbie
Prudential NJ Properties

The short answer is, not really. Most of the time you get neighbors and looky lous. Open houses have always been very beneficial to me as a Realtor but I am yet to sell one to anyone who came in to the open house.

The bottom line is price and comps in the area. If you have not talked to agents about listing I offer full service listings for 4%.

RJ

It all depends one never knows who walks in the front door.

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Chris,

Agents that do open houses regularly will tell you that open houses are definitly beneficial. Selling a home is all about Price and visibility and a open house promotes visibility.

Experienced agents will take a copy of purchase contract with them to all open houses because they know there is potential to use it.

Open houses should be a part of every seller's marketing plan.