Are you getting ready to sell your house? Or do you already have it on the market? I bet one of the things you expect of your real estate agent is an open house, or maybe even a series of open houses. This is a common expectation, but it may not be the best thing for you or your sales prospects.
Why? Well, according to the National Association of Realtors, the chance of actually selling your house through an open house is very small. I've heard either two or four percent, and the smaller percent was a more recent reference. Whichever is right, the percentage is tiny. If that's the case, who benefits from an open house?
The realtor, usually. Although you spend time cleaning and getting the house ready only to be kicked out of your house for a few hours, the agent is the one who profits by getting the chance to meet new buyer prospects. Granted, he or she has to pay for an ad or two in the local paper to get people to show up (although I've had open houses people came to just following some directional signs), but the benefits seldom go to the homeowner.
I will say, though, that if the realtor does his job well, he or she will make it a point to invite the neighbors so that they will know your house is for sale and have a pretty good idea of what your house is like inside. Neighbors can be the best referrals - they may know someone at work or have family that might want to live close, for example.
So should you expect your agent to have open houses? Maybe, if they're looking for buyers. But don't expect a sale to result.
If I was selling my home, would I have an open house? Nope.
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