On Sundays many of us place Open House signs at key directional points in an effort to entice potential buyers to view our listing. We arrive a half hour early to (1) inspect the home to make sure it is ready for visitors, (2) strategically place our signs, business cards, log sheets, and home information with the hope that we will have a good turnout and find that special someone who wants to buy this house. So we spend approximately 6 hours meeting and greeting.
However the pros and cons of Open House-sitting have been discussed, and even debated, among real estate professionals for a long time.
- Some experts state that reports show that a very small percentage of buyers buy the home they first saw during an Open House and that the only benefit of an Open House is to provide buyer leads for the agent. They believe that most visitors are just looking and the time it takes to convert an OH lead to a buyer is no better than a call-in from a sign or website.
- Others believe that an Open House provides exposure for the seller because this may be the only time members of the general public (those not represented by a Realtor) will be able to actually tour the home that may be of interest without feeling any obligation to take further action.
I have taken the position that hosting an Open House certainly can't hurt and it demontrates to the seller that you are flexible in your marketing strategy.