How valuable are open houses?

Asked by Barbara Banman, Topeka, KS Wed Aug 20, 2008

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Maria Cipoll…, Agent, Coral Springs, FL
Mon Nov 5, 2012
Only 3 to 4 percent of Open House will actually sell your property, but it will give you a great opportunity to obtain a feedback of what people are expecting to find in a house in that price range. You never know when a neighbor is looking for a friend or relative and it will be worthy all the effort.

Best of Luck,

Maria Cipollone

Century 21 Tenace
2 votes
Barbara Banm…, Agent, Topeka, KS
Wed Aug 20, 2008
An open house when your property is first placed on the market can be very important, but not for the reasons most homeowners think. Just like with advertising, most visitors to open houses rarely buy the house they come to look at. They may not even know the price of your home when they stop by to visit – they probably just followed an "Open House" sign to your door.

An open house performs a similar function to the neighborhood announcements – it lets all of your neighbors know that your house is for sale, and it practically invites them to come "take a look." Being generally nosy, a lot of your neighbors will take advantage of the invitation.

And they may tell their friends about your house, creating more "word of mouth" advertising.

Of course, there are other reasons for holding open houses, too. Listing agents who "farm" a particular neighborhood use them as an opportunity to meet with other local homeowners who will someday be selling their home. Your agent may hope to list their homes in the future.

Open houses held after your home has been on the market awhile do not usually serve a useful purpose in selling your home. Most of the neighbors already know your house is for sale and open house visitors rarely buy the homes they visit.

However, if you really want more open houses, your listing agent may allow other agents to hold it open. Open houses attract prospective homebuyers and agents hope to convince some of those homebuyers to become their clients.
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1 vote
Ruth and Per…, Agent, Los Gatos, CA
Mon Nov 5, 2012
Very valuable, if home is priced right or slightly over.

Good luck
0 votes
Don Tepper, Agent, Burke, VA
Sun Aug 24, 2008
The value does vary geographically. In some areas, they actually can help sell houses. (I once owned a condo that was sold via an open house.) However, most agents consider them relatively ineffective (and a large investment of time) in selling that specific property.
0 votes
Bill Eckler, Agent, Venice, FL
Sun Aug 24, 2008

In our area doing open houses not only expand our customer base but we do on occasion have the opportunity to write contracts.

In the Venice they are viewed as an important part of the overall marketing plan by most people.
0 votes
Neva Smith, , Lyndon, KY
Sun Aug 24, 2008
I agree with Barb, and in the rural and small town areas the neighbors don't even stop by. I think they show the seller and prospective sellers that you are working for your client. But they are just another advertising tool and I don't think I have ever sold a house from an open house. Also I think if you can you should not sit alone at them, they are sometimes lonely and potentially dangerous.
0 votes
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