This is a tricky question. The asnwer depands on your buyers and also on how well the home priced and shows. I feel that open houses may be a great opportunity to sell the house and also to get to know neighbors and give people a chance to see the house even if they are not going to be your buyers.
Buttom line is that you want the listing to be sold. My partner and I send open house invitation to the neighbors and call in advance to invite them. That shows some extra care and if anyone in the street think of moving they may be extra impressed with your efforts and consider using you for their home selling.
I do not necessarily believe that open houses sell houses but they are a good marketing tool and in this market, if the home priced and shows well antyhing is possible.
We got many homes sold by neighbors knowing someone who wanted to move into the area.
Good luck to all of us in this hard time. Karen Abramson
Opens can be tough.
The bottom line is this. When you took the listing what did you tell the seller about holding their house open for visitors? If you told them you would be holding it open, then hold it open as you said you would.
The other thing is, if you don't have enough traffic, then perhaps you need a price reduction or to better advertise the open house.
Check the basics like sign placement, inter office marketing, fliers and so on.
Get together with other listing agents even if not with your company to have an open house tour event n the same neighborhood.
It's a tough market as you know, but getting back to basics might me your ticket to having visitors.
Best of luck to you,
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Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
ABR, GRI, ePro, CNE, MRE, AHWD