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The Real Reason for Open Houses

When Realtors list a home sometimes the home owner will request an open house.  Some home owners want an open house every weekend.  That's fine.  I'm happy to do that for my clients.  The question is whether the open house actually helps to sell the home.

Here are some things to consider with open houses.  First off, there is only about a 3-5% chance that a buyer will be someone that goes through the open house.  Is there a chance that the buyer may have attended the open house?  Yes, but it is a slim percentage of chance. 

Often times the open house is frequented by your neighbors.  Sure they may be sizing up your home against their own, but we never know who your neighbors know!  This is not necessarily a bad thing.   

Plenty of houses sell without ever having an open house.  Open houses are but one tool in my marketing arsenal.  I've sold houses that have never had an open house.

Open houses are a terrific way for me as a Realtor to pick up clients.  If people are from the neighborhood, they may be sellers.  If people are from outside the neighborhood, they may be buyers.  Often times people will attend open houses prior to enlisting the help of a Realtor to help them with a purchase or a sale.  An open house becomes my opportunity to demonstrate value to these people in hopes of becoming their Realtor.  

So open houses can be effective, but should not be relied upon as a major marketing tool.  An open house one to two times a month is likely best. 

Thanks for reading!

By Patrick Murray  Join me on Google+