But should it really be a debate at all? There have been lots of blogs lately here on activerain about whether or not open houses work, or if you should do them, or if they are a waste of time, are the unsafe, etc. What I see in alot of comments are agents stating their viewpoints, and while I respect them, rarely is it a viewpoint framed around "what is best for my seller?".
I even saw one agent flat out comment that his time and his interests were #1, that he would never give
up a Sunday for a seller, his time was way more important than that. Can we say "failing to fulfill fiduciary duties"? Whose interests are supposed to be #1, yours or the clients?
I respect everyone's view point, I do, but you are missing the big picture. The open house is not the be all end all of selling listings. Like many things, its just one tool in your toolbox. But it's not the unused tool, the rusty one buried in the bottom. The open house is the flathead screwdriver of real estate marketing tools, one of the most versatile tools you have!
A flathead screwdriver can do lots of things, it can pry, remove or turn in screws, take off paint can lids, the possibilities are almost endless. That doesn't mean though it's the perfect tool for every job. On the other hand, you don't throw away this valuable because its not perfect for every job.
So with that in mind, if you are a seller agent, marketing a property with the intention of selling it, why wouldn't you use this tool?
You are right though in thinking that a buyer rarely walks in and says "oh my god I have to buy this house RIGHT NOW!".
It's simply not true though to take that statement and to say you don't do them because open houses don't sell homes. In Lancaster County PA, I (and all of our agents) regularly sell listings as the result of open houses our agents do for our sellers.
Maybe its a geographical thing, some areas work better than others. Maybe if you aren't having success you aren't doing it right, not following the right steps or something. Maybe you just have a poor attitude.
Its hard to say without seeing how each person does it but many times if an agent does not have success marketing their listings through the open house process (success being defined as selling the listing because of an open house) its because they aren't doing something right.
It takes more than just tossing a sign in the yard and sitting on the couch while someone takes a self guided walk through the property. I am not saying you do this, but I have seen countless agents who say open houses don't work do just that. Sometimes if we aren't finding success in a certain activity looking in the mirror helps determine what is wrong.
If you want people in the door you need to have a cohesive plan to generate foot traffic and you need to follow it.
That being said, I will admit that a lot of times it isn't Sunday when buyers write the offer. They see our signs and balloons or our online ads, they come visit during the open house, they talk to one of our friendly agents who knows all about the home and the neighborhood, they decide they like it, they schedule a second showing later in the week with our agent or their own agent, bring back the family for all the second opinions, then write an offer, that is a typical scenario. Or they call up Monday and say "I couldn't come to the open house yesterday but I saw the ad/sign, can someone show me the house?"
The odds of a random person walking into any random open house and buying it are indeed slim. But it happens and the interesting thing though is that you are not giving home buyers enough credit with thinking of only that scenario.
Most open houses guests don't really pick random open houses. Buyers look at open houses first online. They know what neighborhoods they want to be in, they research by price, by features and amenities, they pull together a list of properties to go and see in person.
Buyers are smart, they are educated and an open house is an easy, convenient, stress free way for many buyers to visit homes that meet their criteria on their own terms. Try doing an open house every Sunday for the next 60 days. Put away the power drill and use this simple, valuable tool from your real estate toolbox.
Open your mind and make an effort to SELL the house you are in this Sunday. The results just may surprise you!
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