Do you think Open Houses are helpful when selling your home?

Asked by Beth Yobe, Knoxville, TN Wed Sep 4, 2013

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14
Damon Anders…, Agent, Wexford, PA
Wed Sep 4, 2013
There is likely data out there to address your answer. I can give you an opinion based on my experiences and those of fellow agents. A general consensus is that while open houses may not always lead directly to offers, they do add to the visibility/accessibility of homes. Personally I have had strong interest recently and 2 offers following as many open houses. In this area buyer interest is very strong and open houses seem to be very useful. I would strongly suggest including regular open houses in your marketing plan

I feel it does also depend a few factors. Showing quality of the home - be sure you are presenting the home is the best possible light. Diligence of the showing agent - I focus on being as informative and resourceful as possible and regularly following up to answer questions and gauge interest; your agent should do the same. Advertising - be sure the open house is listed on the MLS, your agents broker website, signs, postcards, email blasts, etc.

Hope this information helps
2 votes
Jereme Carter, Agent, Clearwater, FL
Tue Feb 18, 2014
If you are in a neighborhood where there is a lot of traffic it will be worth it, create a buzz. At least your neighbors will tell their friends the home is up for sale. It helps create the buzz. Keep it as an option don't necessarily eliminate it out of the marketing plan.
0 votes
Laurie Sutton, Agent, Knoxville, TN
Tue Feb 18, 2014
Personally, I do not recommend open houses to my sellers. The reality is that if a person is interested in your home and are serious buyers, they will book an appointment to see it at their convenience rather than wait for an open house. In 10 years I have only had one listing sell as a direct result of an open house. Most agents like to do open houses because it is a way for them to get more buyers and because the sellers may have the impression that it is important. There is nothing more discouraging than to spend hours cleaning your home, finding something to keep you out of your home for 3 hours only to discover that few people attended and there was no one serious. Worse yet is when the attendees were the nosy neighbors, a couple looking for decorating ideas and a person hoping to score some prescription drugs from the medicine cabinet. I don't want to exaggerate this. Most people are trustworthy and thoughtful when they attend open houses, but I would not be honest if I did not admit that these elements exist. While I am not a fan of public open houses, I do see a huge value in Realtor Opens. These are done during the week while most sellers are at work anyway, and can draw a lot of Realtors by offering food and prizes. Getting a Realtor into your home is like bringing 5 to 20 potential buyers. Realtors work together to maximize your exposure and brainstorm about ways to better your showings. This is an effective marketing tool.
0 votes
Jeff Grebe, Agent, Knoxville, TN
Wed Oct 2, 2013
An Open House is always part of our marketing plan and our system includes lots of internet advertising and using 8 directional signs with 2 YELLOW balloons on each sign. The most important thing an agent marketing your home can do is to create activity and Open Houses, when done right, generate activity and 'buzz'. Many agents use them as a last resort when traffic is not good or the seller wants to know just what the agent is doing to market their home, but I like to do them in the first 30 days when the listing is fresh. Many time we see a 'bump' in showings the following week even if the open house is not well attended. A private study by Weichert showed this startling fact: almost 3 of every 4 homebuyers visit at least one open house
0 votes
Nina Harris, Agent, Williston Park, NY
Wed Sep 11, 2013
Yes and I also think that it is dependent on location. In Nassau County I am seeing more and more buyers opting to go to open houses. I have sold many homes at open houses.
0 votes
Josh Barnett, Agent, Carney, OK
Wed Sep 11, 2013
To an extent, they are, but mainly for the agent holding the open house to pick up more buyers and introduce themselves to the neighbors.
0 votes
Christopher…, Agent, Tarrytown, NY
Wed Sep 11, 2013
I have had some great success with open houses. They are just one more piece of the puzzle and you never know when that right buyer is going to come along. Even the neighbors may know someone that is relocating to the area and might be interested.

Chris
0 votes
Scott Godzyk, Agent, Manchester, NH
Wed Sep 11, 2013
Open houses are more helpful to an agent who will meet new clients than finding a buyer that walks into an open house. Open houses work well for new construction and high traffic areas, most buyers will skip open houses and choose private showings at their own pace.
0 votes
Jim Olive, Agent, Key West, FL
Wed Sep 11, 2013
Of course they can sell homes, but standing on a street corner ringing a bell can also sell homes...it's just not the most effective manner of doing so. If you're goal is to sell the home, there are better ways to do that. If your goal is to make the seller happy, then an open house might be a great tool, many sellers are excited by the prospect and believe it is the key to selling their home. If your goal is to attract more buyers and business for yourself, then it's a great tool, especially if it's a high-profile home in a well trafficked area. Add all these goals together, and sitting an open house may very well be worth your while...
0 votes
Ed Marill, Agent, Manhattan Beach, CA
Wed Sep 11, 2013
We had an open house for a home the first day it was listed and received an offer. The house is now under contract. I think they can work if done well.
0 votes
Stewart Ward, Agent, Boulder, CO
Thu Sep 5, 2013
It's a good question. Recent National Association of Realtors (NAR) data shows that only 2 to 4 percent of home buyers find their home by going to an open house, but who can argue that increased local exposure is a bad thing? Open houses generate buzz on your street. Many times I have been stopped by neighbors while placing or removing open house signs, they tell their friends who are interested in moving to their neighborhood, and then those friends show up! I also always put ads in craigslist, notify all the major RE websites and specify dates in the MLS, creating another channel for marketing the house.
0 votes
allan erps,A…, Agent, Pearl River, NY
Thu Sep 5, 2013
Can be effective but mostly for the Agent to pick up a possible Buyer in my opinion
0 votes
Jason Carnes, Agent, Trussville, AL
Thu Sep 5, 2013
Open houses can be hit or miss depending on the location of your home. If you're home is just one turn off of a heavily traveled road and city/local ordinances allow you to post a sign directing folks to the house....well, it might be worth trying. If your home is buried back in a neighborhood that requires extensive directions, you/your agent are likely to just meet your neighbors on open house day. Most potential buyers that are searching for a home like yours will likely be using the internet as their main search tool. That's where your first impression is likely to come from. Do well there (meaning great, great pictures), and you'll attract the right buyers anyway with no need for an open house.
0 votes
Well said, Jason. Pictures are the most important aspect, IMHO, to selling your home. When researching an agent, take the time to view the pictures of other homes they have listed. If they are fuzzy, show cluttered cabinets or a dog on the couch, you may want to keep interviewing.
Flag Tue Feb 18, 2014
Robby Tindell, Agent, Knoxville, TN
Thu Sep 5, 2013
Yes, open houses are helpful when selling your home because buyers can be attracted to seeing a home interior without setting an appointment. Getting a buyer inside may be half the battle toward a successful closing. The bonus is listing agents can meet prospective clients.
0 votes
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