Let me start by saying I have never been a fan of Open Houses. Perhaps it's because when I first started out as a Realtor, I was given an opportunity to sit in on one and I was not impressed. As years have gone by, I have come to realize that my first open house viewing had not been advertised and that would explain only the immediate neighbors dropping by. But I did not know that at the time. I just thought what a waste of a great summer afternoon!
Fast forward to the Real Estate crash. Around here it was impossible to get people even remotely interested in open houses and most of the homes were either Short Sales or Bank owned or too highly priced for the immediate market.
About a year ago, I did an open house because the Seller really wanted one and they wanted to sell the home ASAP. They were very driven as they had already purchased another home. This open house was an eye opener. And yes we sold it from the open house! The amount of people coming in and out in a few hours was crazy. It was on a cul de sac and there were cars everywhere! Almost totally changed my view of Open houses. But not completely. I still felt they were best for new Agents starting out that need to get a "feel" for Real Estate and a potential buyer to represent. And yes, they are good for that.
If the market is hot, you barely have time to have an open house before it sells, but I like to put it right in when I originally list the house now because, if you do manage to get to the Open House, the amount of people will be staggering! Can you tell it's a HOT market in Rhode Island? Last weekend, we actually had a traffic jam in the very long driveway and three of us had to escort people around!
Let's just say, I may be more open myself to Open Houses in the future!
If you're looking to list your home in Rhode Island, let me know and I might just do another one!