There's been discussion among professionals in the real estate business for years now regarding the value of holding open houses. The National Association of REALTORS® conducted a survey last year that revealed 80 percent of buyers used the Internet for property searches, but only 42 percent visited open houses. What gives, and are open houses a waste of everyone's time?
The answer varies according to whom you ask, and there are good arguments on both sides. Some agents feel that truly serious buyers do their searching well in advance, and choose to make appointments to see the homes that really excite them.
Other agents have learned that buyers enjoy the freedom of seeing properties without an appointment and without the company of a representative when they visit. Sellers, on the other hand, sometimes expect agents to host open houses to show that they're working hard for their compensation.
Real estate agents often begin developing relationships with buyers through open houses. By learning the needs of particular buyers at an open house, the agent may be able to direct those buyers to another home that's better suited to their needs - perhaps yours!
In a nutshell, both sides can be equally argued, but the sale of your home is as unique as you are. Discuss the potential benefits and deterrents of an open house with your agent.
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