Hi Gena...good post...open houses can be good...I haven't done many in a few years because I got out of the 'groove' of it during the 'multiple offers within 24 hours of listing' days'.  I do think they are a PLUS today and sets the house apart from others that are not held open.  My issue is many seller's don't like open houses..they don't want people snooping in their stuff.  I live in a gated community where the gates aren't always open for open house traffic...even though it's requested management 'forgets'...I did do one last fall in this community...it was during a 'Community Yard Sale' ...I held it open on purpose from 10am to 1pm because I KNEW the gates would be open and I figured I'd get lots of traffic!  I did...I lost count after 30 people...got a contract on the house too!  So yes, they are productive.

We still do "Open Houses" but only on request.

Gena - I agree! You and I both know that in our market, you have to do whatever it takes to get your property noticed.  If that means holding Open Houses - that's what you do!  I'd take it a step further though, and suggest having a plan BEFORE you hold the Open House.  Obviously, your objective should be to get your listing sold.  Secondly though, you should be on the lookout for NEW CLIENTS.  I work with agents on open houses often (a great tool for me to meet borrowers) and many of the open house visitors seem surprised that we start a dialouge with them.  Some agents are not good at small talk, that's when you need to partner with another agent or loan officer to ask the right questions to that visitor into a potential client.  If you sell your listing - even better!

LOL. Beware of the CHAD.   Open houses are still a great way to meet prospective buyers. Just hard to do in the summer heat. -Charles

Mary, I know what you mean.  A few years ago you didn't time to do an Open House before you were slammed with multiple offers. Different real estate now, so we really have to get back into doing everything possible for the Sellers to get noticed and sell. Thanks for coming on over...you didn't comment though on Mr. Chad. Wasn't he a kick?

Scott, that's fine. It is a way to sometimes also grow your business.

Jodi, I couldn't agree more. Many times I would have a Lender present at my Open House for several reasons...to be honest it is safer to hold an Open House with more than 1 person and also if the home buyers have questions or need to get pre-approved, I love being prepared for that.

Charles, you obviously watched the video...isn't he a character? I wonder if there is anyone like him around? Hey, just crank up the A/C, you'll be fine. Some of the home buyers actually go when it's hot to check out and see if the A/C is in good working order.

Open houses are great for making your home seller happy.

I do it full effort, but in my own mind it is a marketing effort for me, to impress the neighbors with what I do,  it actually can generate listings.

Oh and I have been in real estate for 4 years now and have sold 6 homes at the open house, 2 of them we actually sat and wrote the contract at the kitchen table during the open house while other people looked at the house, and one where, the people came back at the end of the open house after talking to my mortgage guy to get a Pre aprroval letter, and at 4pm we locked the doors to the house and put the contract together.  how sweet.

that does not happen now much, that the real estate market is very slow.

Open House is great.  Do it and do it TO SELL THE HOUSE and a lot of agents would be surprised at what can happen. 

1.  YOU MIGHT SELL THE HOUSE.

2.  You meet buyers that aren't attached to an agent.  Of course, they are not attached to an agent BECAUSE THEY DON'T WANT TO BE.

3.  You get to test the public's opinion of the house.

What to do??? 

1.  Take a completed contract with everything but the buyer's name and the offer amount.  I'm surprised at agents who go to an open house and don't have a prepared contract for buyers to see.  What's more enticing that a contract to read AND SIGN.

2.  Put an ad in the primary news paper of the area.  That's where folks go to find Open Houses.  It's expensive.  That's why we're paid the big bucks.

3.  Don't hold an open house in a property that is not in pristine condition.  It's a waste of time, embarrassing and you spend your time apologizing. 

If a buyer comes in who says that they are interested but need to talk to THEIR AGENT, offer to call the agent.  Don't try to sell a buyer out from under their agent. 

Shall I go on or save some for next time????

I will do an open house if the sellers really want one, but frankly I don't think much of the "open house" thing.  Most of the time you get the neighbors looking out of curosity. Yes, it's true anything can happen but when I look retrospectively I can remember every selling someone who came to an open house. Maybe you can drum up some business with people and switch to another house.

Patricia Aulson/Lic. NH/ME/MA

www.patricia4realestate.com

good post, interesting video too.

When i was a Realtor i sold a couple of houses through open houses, i think the success of open houses depends on the size of the city. Or at-least thre is a positive correlation between the two. Also the location of the home, th more people that drive by the open house sign the higher the possibility of getting an interested buyer go through.

I don't have good luck at open houses but will do them on a regular basis. You just never who will walk through the door.

I've done open houses where I was followed by customers as I put up the signs... and in one instance they bought the house!  I wouldn't want to rely on it for my livelihood but open houses do have place in the overall marketing.

Gina, at this moment I'm sitting an open house. There are approx 200 open today around Pueblo, from the phone calls I'm getting Fathers Day weekend was a bad idea. But you gotta try right? And the up side is that I can log on to A.R!

I did not sell any houses but got 3 listings and a buyer for another property!

I always used open houses, many agents do not understand the value of them and the added exposure to new prospects.  Nice post.

Gena:  LOL the "The Chad" was great!  We still do open houses however have had clients request we do not have open houses on their home.   You're right....you never know what may happen given the opportunity.

We've tried a lot of things to promote open houses. At first we did a lot direct mail in the neighborhood. We've also done newspaper ads, online ads and items in the MLS, and of course just putting up a sign and going for it. Pretty much results are all about the same, no matter what we do. Direct mail in the neighborhood does influence future Sellers though.  Thanks for bringing this up.

I love Open Houses and rely on them heavily for both sellers and buyers. I have them for all my listings. Some agents in my market only do open houses so it is the only opportunity for my buyers to see a property.

Lenn covered most of it, I would only add having a lender do a financial analysis showing the monthly mortgage payments from different loan scenarios. As soon as I get the listing I have a lender pre approve the property.

I also check in the MLS to see when comprable listings are having an Open House and schedule mine the same time.

That's right Gena, how can you not give your Seller every single opportunity in today's market!

James,  just proof that you never know unless you try. And when you do, sometimes it works beautifully! Those were actually good odds considering the length of time you have been in Real Estate. Congratulations.

Lenn, you can always go on...the key item here for Open Houses and for any inquiries on the phone is always, "are you currently working with a Realtor?" You are absolutely right it is always a great idea to have a filled out contract...that's positive thinking with a twist of a wish! I can't imagine anyone holding an Open House without the home being in pristine condition but I guess there are those that don't. To me it's like saying, "don't pick your nose in public" ... hmmm I guess there are those that don't know that.  All good points. Thank you Lenn.

Patricia, they don't always pan out but honing a Realtor's skills and changing old patterns usually brings some real positive results. It's a crap shoot...but when it works...how sweet it is.

Bruno, strategy is key to any Open House. It's not for the weak of heart...it requires commitment, skill, work and money. But, ooo la la it can certain pay back dividends.

Monika, once they pay off...you will swear by them. Tweak and hone.

Silvia, isn't it great when they are following you! I just love it!! It takes me an hours prior to set-up and almost an hour afterwards. It is a commitment but sometimes it can actually be fun. I don't remember ever having an Open House where I actually got to sit down.

Dena, Some weekends are crap shoot. But, believe it or not someone that is actively looking, it won't make a difference to them if it's Super-bowl Sunday. They need to buy. In your case, at least you are accomplishing something productive, AR. Good for you,

Tad, like I told Dena...you never know. Tomorrow, Father's Day I'm showing property to Buyers and showed today so Buyers are out there no matter what the weekend.

UNKNOWN, that's what I call good results. Congratulations.

Gary, yes that's absolutely correct. The exposure is better than any of those throw away postcards that you send people. Nothing like face to face. It's also a great place to practicing objections.

Therese, I too have had those that prefer not to have strangers walking through their home in great masses. And that's fine, too. Thanks for your comment.

Gary, to be honest with you...a lot of the advertising really has to do with the area. I know for me, absolutely and with all certainty I never received anyone from an ad in the paper...many dollars later I stopped running ads. The signs are terrific along of course with the Internet ads. When asked 99% came from all my signs and balloons. That's where I stick my $ behind. But, what works for some areas may not work for others. It requires trial and error in the beginning and of course keeping track. Thanks for your comment.

Mictchell, all well thought out suggestions. Believe it or not, I provide a list of all the Open Houses in the area for those coming to my Open House. There's enough to go around, so I share. It also helps when I know that mine is the better priced and shows the best...just kind of an added bonus that I provide myself and Sellers.

Laurie, you are absolutely right. We have an obligation to provide the best service available. Thanks for popping-in.

Having listings in restricted gated communities, it can be a real challenge to hold a successful open house.  I really don't do as many as I used to do.  Just got away from it after sitting for hours with nary a visitor.  We tend to do open house Sundays a few times a year and then everyone joins in.  That seems to work much better.  But best of luck to you on yours!

I remember seeing this quite a while back--can't recall where. FUNNY!

in my years, only 1 person has ever showed up to an open house of mine, even after a week of directionals, print ads, etc.  Yes, that is one person TOTAL!!

Funny video!

We do open houses. But the ones I have held open had no one come through them. I've talked to other agents in the office and they are getting a couple of people but most are getting none.

Diane,un-guarded gates do make it quite a challenge. One thing you could do is hire a young "Chad" to open the gates for each person after they identify that they wish to go to the Open House...just kidding. Did you watch the crazy video?

Kat, I can honestly say that I never saw this. It's really "out there." I wonder if I could hire him to stand on the corner with an Open House sign...he definitely would draw traffic.

Jennifer, wow you must win the boobie prize. I don't think I've ever even heard of someone only getting one person in their entire career at an Open House. If that constitutes several years and several Open Houses, I can see how you might be a little turned off by Open Houses. Don't know what area you are from but I wonder if that has any bearing. Maybe all you needed was CHAD.

Christy, are you in rural areas? I use about 11 Open House signs that custom made with my information and strategically placed from several different directions along with balloons attached to draw attention. Maybe it's the balloons, maybe the food...but whatever is, I'm thankful to say that I have never had your results. I hope it improves for you.

I sold one house from an OPEN HOUSE 13 years ago, my first year in the business. Met lots of great people and some have called me to sell theirs. As the years have gone by, less and less buyers attend in my market. WE still do them, but not much traffice. :(

I rethought my open house strategy; I haven't done one in over 10 years now.

After rethinking it I still think they are a huge waste of everyone's time and if you are holding one to pick up listings or buyers for other listings you are not fulfilling your duties to your sellers.

I'm not willing to blow hours of my seller's and my time in the off, 1% chance someone will stumble in and buy it. "1% that sell from an Open House"

" In this Real Estate market, I would think that a good, conscientious Realtor would be doing everything in their arsenal to sell their Seller's house."

I do use everything in my arsenal to sell my seller's house; all 99% of them. ;-) 

Jim, well if that works for you and for Sellers that's great. Thanks for commenting.

Great post!!

I am striving to be an open house expert.. I do door hangers, flyers, that I distribute at places like walmart and target, email invite and off course the signs and good ole word of mouth!!!

All the best with your Open houses...!!

I find that within a week of holding an open house is when many of my listings sell.  Many of the people that are looking are working with agents.  They will tell their agent about the house, and want a second look, and will write an offer.  Also, just having the photo in the paper is a great reminder that the home is there, and will generate interest.  It is great to hold one especially if there has been a price reduction, it brings in a whole new crowd of buyers.  I do them every week-end. 

Gena, I'm one of those that believe open houses work. Recently I have sold 2 homes from open house events. One was my own listing where the Buyers came through and the next day arranged a showing again with their own agent. The other one came from an open house I had for another REALTOR in the office. In this case the Buyer liked my approach and asked me if I would be work with her in putting an offer together for the home.

So I'll keep doing them, without a doubt.

Missy, well we all have to do what we think is best and what works.

Natallie, now all you need is "CHAD."

Shari, congrats...makes you a believer doesn't it. Amazing what positive thinking with appropriate actions will do.

Wayne, another positive reaction from a postive action. Congrats and keep it up.

The Chad thing very funny... Open house thing I do them with my sellers request or I will collaborate on a community open house If anything it gives you an opportunity that you might not have had. One never knows.

Donna, can you believe the "Chad?" Tomato finds the most fascinating things!  Absolutely, unless you have a crystal ball...you just never know what lies around the corner.  I'm never to loose an opportunity.