There are 2 questions. Are open houses effective? In all areas?
1. Yes. Open houses create energy for the home sale by providing exposure for your home, getting quality feedback in a timely fashion, and if located in a new home subdivision has a better than 1% chance of finding a qualified buyer.
2. According to NAR, National Association of Realtors, less than 1% homes sell via open house. Keep in mind that is a national average which means in some cases more and in others less. Averages don't mean a hill of beans in that you could have 49 states with 0% and in one state, one city 50% and get that result. If that city bought into the 1% ideology, they might now add open houses to the marketing mix and may potentially lose 50% of their buyer market. There is no real way of knowing the effectiveness of open houses without knowing your market statistics, which only your local Realtor would know.
Broker - Owner
Green Home Realty