Photo courtesy of Pall Spera Company Realtors, LLC.
One of our expert Realtors, Bob Kenney, recently answered this email inquiry about whether or not open houses really work to sell your home. If you've ever asked yourself the same question, keep reading to see Bob's answer:
Thanks for the email, Jack,
There are a couple of different schools of thought about open houses:
A) While the additional exposure cannot hurt the marketing of a home, a large percentage of the time the open houses benefit the Realtor® holding the home open to the public. The agent has a chance to interact with the people coming through the doors and if this is not the right home, then maybe they can help them find another that would be a better fit.
B) Open houses are great for the exposure of the home in any kind of market. You have agents that are looking for the opportunity to “pick up buyers” as well as agents who believe in exposing the home to as many individuals as possible, hoping to generate interest in the home. The goal is to sell real estate. In my experience, a potential buyer walks into an open house blind maybe less than 5% of the time. I believe open houses are a win-win for the homeowner and the agent as it helps expose the property to a market (people that love to go to open houses) and to neighbors that may have friends or family who want to move into the area. It really comes down to the homeowner and how they feel about open houses. I have had clients prefer not to open their homes up to the public (Trouble of getting the home in “showing condition”, worry about personal property, etc...). I think it is a marketing tool that has to be discussed before your home is actively listed so that everyone’s expectations are set before the home gets to market.
So to recap – Yes, it can be helpful to have open houses, especially at the beginning of a listing. However, it depends on the homeowners' feelings about preparing and opening their home to the public. Have the discussion up front with your Realtor® They will know the local real estate market and how important/unimportant it may be from a local market perspective.
Good luck with the sale of your home, Jack.
Bob Kenney, Realtor®
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