There are a lot of factors involved with the overall performance of your FSBO than just hosting an open house Having an open house may not cure the problem. When you offer a house for sale by yourself, you are sending out some messages that may turn away truly qualified buyers. First of all, you are alienating the brokerage community as listed homes are safe to earn a commission in, FSBOs are not. FSBOs are uncontrollable and not bound by the Realtor Code of Ethics. Second, you are communicating a message that you want a high price for the property, probably higher than it should be. While that may not be your intention, many other FSBOs do, and you are in the same huddle with them. Third, you are telling people that you do not find value in hiring a qualified professional to represent your interests. There is a lot more that goes into professional representation than just paying a commission. Realtors have liability insurance, continuing education, licensing requirements and adhere to fiduciary and ethical standards. We also devote more time to marketing a property and have experience with more than one property every 3 to 10 years.
An open house alone will not bring in more buyers. It takes a concerned effort and considerable promotion to have a successful open house. A seasoned professional knows how to turn the casual buyer into a well qualified prospect.