Are Open Houses Effective?

Real Estate Agent with Johnson Properties

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.
Bottom Line
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?

Comments (5)

Kathleen Cooper
Kathleen Cooper, Sposato Realty Group - Worcester, MA
Sposato Realty Group - Broker Owner

I just posted about this same thing tonight after having an open house this past weekend that I thought was a success and my clients felt I should have had more people at it.  We got 2 calls for 2nd showings and the sellers are still not happy.  They don't understand that open houses don't normally sell their house and it's more of a way for us to find new clients.  

Oct 19, 2010 04:27 PM
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro

Rayssa, When I first got in to real estate I did lots of open houses.  What I found however was that they worked great for me as I received leads but I have yet to sell the house I held open from an open house.  I finally decided it was not fair to my seller's and rarely do them. 

Oct 19, 2010 04:33 PM
Victor Zuniga
Berkshire Hathaway Home Services California Properties - San Diego, CA

I have found from experience that open houses can generate business. You're absolutely right that you must put effort and make it something special. A great attitude is the first thing though.

Oct 19, 2010 04:51 PM
Ken Barker RealtorĀ® GRI, E-Pro Certified
Dilbeck Real Estate - Burbank, CA

Rayssa -I did one of my listings this weekend. I almost talked myself out of it. It has some difficulties, so I thought.

It is in a gated community and the sellers code is set to ring to my cell phone to let them in the gate otherwise they need to follow someone in. It is a fabulous location and feels like you are in a resort with waterfalls, streams, wildlife etc...and It is in the San Fernando Valley of Calif. if you know where that is. I almost talked myself out of it  because it was raining in the AM but  when I left it cleared up before the Open House.

I had about 12 people and picked up 3 investors. BUT, I also found 3 folks interested from the complex so YES an Open House can sell homes. Although a rarity.

 Consistency is key.

Oct 19, 2010 04:52 PM
Timothy Mattingly
Louisville Homes Team Louisville KY - Louisville, KY
Louisville Homes for Sale

I'm still new to the real estate business so I love to do open houses hoping to sell the home, but also to meet more contacts.  Open houses are still popular in my firm and we do them every Sunday. I always try to down play the expectations of the sellers so that they are not disappointed if there is a low turnout, letting them know that we really only need one buyer.  I do them and love to meet the people. 

Oct 19, 2010 05:08 PM