Inman Survey - Do Open Houses work?

Today, I came across a survey on Inman News asking "Tell us what you really think of open houses".

As the survey is already closed, I would like to give my opinion on open houses here on the Sebring Real Estate blog: Well,..........it depends! I know, this sounds like I'm really trying to weasel my way out of this one, don't I?  Don't give up on me yet, just read on.

The Agent

1. Always on the lookout for new clients? Open House will work for that! If advertised enough, there will be plenty of nosy neighbors and garage sale browsers walking through the front door. Surely, some of them won't mind taking a business card or even leave their contact information for the agent. Is it going to sell the home on Open House day? NO

2. Need a break from the kids? Open House will work for that! I remember one of our golf course listings, perfect for a retired golfing enthusiast. Unfortunately, the listing was on the market in the summer during the off-season and we weren't able to generate too many visitors. Other than that, we enjoyed the tranquil views, the occassional golfer passing by the backyard and last but not least: heavenly peace. Is it going to sell the home on Open House day? NO

3. Looking to place a dozen real estate signs in highly visible locations? Open House will work for that! Real Estate signs sell real estate and they also sell the agent. Is it going to sell the home on Open House day? NO

The Home Owner

1. Like to show off your stuff? Open House will work for that! You'll be thrilled to get compliments on the updated/upgraded super-ultra modernized kitchen. You'll love to whip out that photo album with step by step photos of how you installed the gorgeous water fountain, perfectly placed in the center of the lime stone patio (there's a separate photo album on patio construction). At the end of the day, you feel great about all the wonderful improvements you have made and the toys you own. Did it sell your home? NO

2. Looking to sell your home? Open House "might" work for that! Most buyers start their real estate search with certain criteria in mind: 3 bedrooms, 2 baths, tile flooring is a must because of the pets, can't be a busy street because of the kids, must be close to schools, no HOA please (!), lot must be big enough to add a pool later, oversized garage for "man toys" etc. What are the chances they are looking for YOUR home? Sure, they might drop in, admire your updated kitchen, your immaculate berber carpet and your perfectly sloped backyard. Hey, but they might just say: Let's rip out the carpet,  enlarge the garage, add a 3rd bedroom and buy this beauty! Most of the time though it doesn't work that way. So is the Open House event going to sell the home on Open House day? Not likely.

The Bottom Line

Open Houses don't sell houses, they sell the agent, the brokerage and the home owner's interior style and toy collection. People attend open houses because they are nosy, not so much because they want to buy.

There are plenty of other, more effective ways to market a property for sale. Talk to your agent and if you live in my area, talk to me:

This post was originally published at REAL ESTATE IN SEBRING blog.