Your best chances of getting the best and highest price for your home is in the first 30 days and during the first or second open house. After that the house looks market worn and buyers ask the proverbial question "How long has the house been on the market?" The longer it is the more the buyer starts to deduct from the price.
I hope you are planning to use a realtor or licensed broker to sell your home. There are so many dangers inherent in selling your own home that professional representation generally means you will get a better price for your home and have less stress and headaches.
Thanks for the question
In reality, a large majority of agents holding homes open are (1) not the listing agent and (2) are not trying to sell the home â€“ they are trying to pick up buyers.
I'm assuming you have an agent who is holding the open houses. However, if you are trying to sell the property on your own, it's a completely different story. Buyers don't have the same comfort level to discuss the pros and cons of the property with the principal so it may take awhile.
Hopefully, you have hired competent agent who will sell your home quickly.
Best of luck,
Or, are you asking what we, as agents, do to market our listings? Open houses, for US, may be part of a comprehensive marketing plan, but not top on the list as far as actually getting the home sold.
As a fsbo, you may need a lot more open houses than we will need in order to get your home out there in front of the consumer.
My experience as an agent has been that open houses do not sell those houses........they may help other houses sell.......or help the agent obtain new buyers to work with....but if you're putting all your hopes into Sunday open houses as a way to sell your home on your own.....you'll need to come up with other options.
In today's brisk market, in many areas of the country, a really well-priced home won't need even one open house for the public........but one can certainly be enough.
You only need ONE really good offer. You don't need to have multiple offers to feel like you have bragging rights.
In a seller's market, if all the factors are there -- priced right, looks good, in desirable location --- sometimes sellers can look at offers after only one open house, and they will get it.
I love doing Open House's, both as a means to feature my listings and to obtain new clients. I have a theory however, too many open houses isn't a good idea.
A few years ago I had a client who wanted one every weekend. We said no, one weekend per month in our market was enough. Too many will seem desperate and interfere with agent showings.
If you hire a great agent, I would encourage you to listen to them. If you didn't hire a great agent, why not? They know your market better than you or anyone here.
Each market is a little different for which are the best days for open homes but I try to have one on Saturday and Sunday to cover all the bases.
Remember that when the neighbors are looking thatâ€™s a good thing. They will tell their friends and relatives and increase the word of mouth.
I have traditionally always done at least two open homes and if it doesnâ€™t sell the in first 10 days we do another round.
I've actually been looking in the Pittsburg/Bay Point area and from a buyer perspective all I can say is I can't imagine you needing more than one if you have a home that is in decent shape. Everything I have looked at has had multiple (double digit) offers within days of having the Open House. From a buyers perspective it is very discouraging because you have no clue what kind of an offer it will take to get your offer accepted. And then even if it is, you have to wait and wonder (unless you are paying cash) if the house will appraise for what you offer and if not, what do you do... It's not all about the highest offer, unless it is a cash offer if your home won't appraise.
I have found that interested buyers like to drive around the neighborhoods they like and look for OPEN HOUSE signs: I like to floor the area with signs, to make it easy for them.
I like to schedule one the first weekend that I can, and another two weeks hence, and another two weeks later.
Open House is just one of the Marketing tools we can use; but nothing else can capture the Buyer's attention like it.
If there are other houses Listing in the neighborhood; I call the Listing Agents and encourage them to hold one at the same time. Its like; the best place to put a restaurant, is on the corner with three other restaurants.
I also do a Broker's Open House, with snacks and drinks, for other Agents.
It's all about exposure.