So, How Are Those Open Houses Working Out These Days?

Attendance at Open Houses in Silicon Valley are well-attended if the home is located in a school district with a good reputation/high achievement test scores.  Most attendees already are represented by agents but some want to deal directly with the listing agent because they want a rebate.

Used to do them to placate my sellers.  Now I explain to them that unless I am welcome to bring my 100 pound doberman and my Ruger I am not terribly comfortable allowing strangers into their homes where I am a sitting duck.

Interesting topic and comments, yet almost anything works when you plan for success including open houses.

I often wonder what agents are doing on weekends that produces leads and adventure with opportunities to earn a sizable commission in the process. Events like open houses  could be fun and exciting or dull and boring, so it depends on the producer, the actor and the director, doesn't it? It's Showtime! 

I've been debating whether I want to add open houses to my biz plan this year. I'll most certainly take these comments under consideration. 

I've never sold a listing through an open house, and we're talking 29 years in the biz and trying everything possible - heavy advertising, lots of signs, refreshments, preparing great handouts - I know how to hold an open house.  I'd get some traffic, in fact my most successful open house had over 40 people come through.  However, it was still sold via the MLS.  I noticed as the years went on most actual buyers were already represented by an agent, so I wasn't even getting buyers I could work with.

I've also sold new construction but I believe that is different for potential buyers.  Most are looky looks wanting to see the pretty new houses, but I did sell the subdivision out.  It wasn't listed in the MLS so it was the only way for buyers to buy, although we did cooperate with other agents.

I haven't held an open house for years and sellers don't seem to care.  Like you said, most aren't even interested.  We were thinking of holding a "tour" of our listings in the Spring so we'll see how much interest that brings from sellers.  If sellers aren't interested we won't push it.

Open House in my area are common events. Some are very busy, others are not. The cool side effect from holding open house is that you get to have your NAME out on several busy streets from 9 am to dusk, and prospects notice. Cheaper than a bench ad, wouldn't you say? The two top agents in our office have them regularly. I have picked up both seller and buyer traffic with later business.

Susan - I haven't held an Open House since 2003 and will never hold one again.  I think a lot of agents in my area are on the same page because I rarely see open houses now.

Great post.  They work ANYWHERE when done correctly.  They work meaning if done repeatedly on a consistent basis you will generate buyers.  I tell my sellers I do them to promote the home and to pick up buyers who do not want your home.  This makes a win for each party. 

You can tell who wants to do them, learned how and applied themselves.  Those you do not, well you only have 9 other ways to find buyers and sellers.

Thanks for the post,

Tony

Susan: I agree that open houses are not as effective as they once were. I have been avoiding them like the plague. I refuse to spend my time and marketing dollars to have no one or only 1-2 buyers show up. However, I just did an open house on Sunday. Why? Because I really think it is a nice home in a good location, and affordably priced at just $135,900. Unfortunately, I listed it about 10 days before Christmas and due to the timing, I think it kind of went unnoticed. So, thought I'd try and attract a little attention. Two couples were waiting in the driveway when I arrived and I had a total of 5 couples touring it in the first 30 mins. Made my day!!!

We do auctions now which work really well and to me they are glorified open houses.

Great topic of discussion.

Why not do them if you are working a particular neighborhood? I'm with Andrew#20, I have 12 signs I put out, mostly on main arterials. If you drive around on a Sunday afternoon you are going to see my name. I also hold other agent's opens for them as well. The purpose to get my name seen. It's also a great opportunity to door knock ahead of time, meet many of the neighbors and invite them to see the house. People will see you working and your ethic. I always bring work to do in case it's slow.

I agree that the internet does much of the work they used to, but there is nothing like seeing the actual house, neighborhood, or maybe a special feature there wasn't a category for in the MLS.

Some people now look on line themselves and don't want to deal with an agent until the see the house they want to purchase. They might be a small percentage, but to do the best job for my client, I'll do everything I can to get the house in front of many buyers as possible.

Hi Susan, Ilove to ear on a listing appontment that a seller thinks an open house is not important.  They are a wast of time with $3.50/gal gas and nearly free internet.  Why do buyers drive?

You have a valid point: buyers can now see everything online.  I still hold homes open, as there are many young Dallas buyers who drive through their favorite neighborhoods every Sunday. It is an opportunity to connect with potential buyers and often results in a new client or two.

Open Houses can be good and can be a waste of time...I guess if you are willing to take a chance and get a few buyers or sell the home, then they are right for you.