Open Houses ~ A Win-Win for Everyone!



If you were to gather together a group of Real Estate professionals and ask them their opinions on open houses, you would probably be surprised by the varied responses you would receive.  Some agents have a policy that they won’t do them at all, reasoning that the home rarely sells through an open house.  Other agents are so enthusiastic about them that they do one and sometimes two, every weekend.    Some agents will do them just to “appease” the Seller and create an appearance of marketing the home but without doing everything that can be done to attract potential buyers.

Let’s first look at why some agents feel negatively about open houses.  The objection I hear voiced most frequently from agents is that open houses do not sell the home that is being held open.     I have heard many different statistics on this one, but my estimate would be that about 1%-3% of sales result from an open house.  While this is not an exciting statistic, I would think that most Sellers would be willing to hold their home open if there were any chance it might sell the home!

The other objection I hear a lot is that only “nosy neighbors” attend the open house.  While it is true that many times neighbors do attend open houses in the neighborhood, what these agents are forgetting is that “nosy neighbors” may have a family member or a friend who wants to move to this neighborhood.  In fact, sometimes, the neighbor may also be considering purchasing the home themselves for another family member!

It is my belief that an open house, if done with the proper preparation, is a win-win for everyone involved.  Let’s explore just a few of the benefits derived from holding a home open.  First of all, an open house exposes the property to potential buyers who might not yet be working with a Real Estate Agent.  In my experience, many buyers, especially first-time home buyers and out-of town buyers, are hesitant to contact a Realtor and will begin their search by visiting open houses.  First-time home buyers, in particular, have many misconceptions about the home-buying process and in many cases can buy a home relatively quickly once they are educated on the process.

Secondly, through the expert marketing efforts of a Real Estate professional, the home can be prepared and showcased in its best light.    Agents attract buyers to the open house in a variety of ways.  In the past, most buyers came to open houses through driving around and seeing signs which attracted them to the property.    With 90% of consumers now beginning their home search online in some form or fashion, most consumers are now targeting the open houses that they want to attend.  There are several different websites, including Realtor.com and Weichert.com which list when open houses are being held.  Consumers can put in search criteria such as location, type of home and price range in order to narrow the homes they want to see. 

About the author: Kathy Huver