On One Hand: They Can Be Effective; Preparation Is Key
Open houses are the easiest and least expensive way to make money in real estate. However, the agent must know the property and the market. She must also put up six to 12 open-house signs to advertise the event. The property must be ready for the showing as well, meaning it must be clean and neat looking. Invitations can be sent to prospects whom she knows are in the market.
On the Other: They Can Be a Waste of Time
Some real estate agents hate open houses. If that is the case, the agent will usually have a bad attitude, and the open house will be a bust. The key is to prepare and plan for the open house.
If the real estate agent is willing to put the time and effort in to the open house prior to the showing, the event is much more likely to be a success.
What has been your experience?