Are Open Houses Really The Answer to Selling Your Home?

By
Real Estate Broker/Owner with Aspen Lane Real Estate Colorful Colorado CRE# 40005863

We all have our own opinions about Open Houses.

 

Many agents love to hold open houses with the hopes of picking up more business whether it is additional listings or wayward buyers without representation of any kind. 

 

Is this the best tool for getting a home sold?

 

Maybe.

 

The chances of having the right buyer walk into an open house and say "I'll Take It" are slim, but it is possible.

 

Ultimately, I think it is up to the seller whether or not they want to open their home up to a stream of people coming through.  We don't know if these people are serious buyers who have talked to a lender.  Maybe they are checking out valuables in the home with the plan to rob the owners at some point.  

 

Whatever the case, it is an unknown. 

 

Another thought is that maybe a neighbor knows someone who wants to live in the area.  They tour the open house and call their friend to come over and take a look.  Now that would make it all worth it.

 

I have held a fair share of open houses over the past 20 years and have yet to actually sell the house at an open house.  But you never know...

 

close

Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. steven jackson 09/27/2017 07:28 AM
  2. Fred Griffin, on leave of absence from ActiveRain 09/18/2018 05:45 PM
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Rainer
12,595
lauren laski
Skye Louis Realty - Parkland, FL
Peace, Love and Real Estate. Let's find your "OM"

As someone entering into real estate, I have wondered about this. I will likely do them when I begin to get a feel for them. I usually want to go to get decorating ideas or just curiousity if it's a house in my neighborhood.
Thanks for your insight

Sep 26, 2017 06:14 PM #12
Rainmaker
627,517
Mary Douglas
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Hi Belinda, I don't think they are extremely successful in selling THE house up here - and maybe a little old fashioned, with all the photos on the web, etc...but like you said, it is possible!

Sep 26, 2017 06:57 PM #13
Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Belinda - and the answer to the questions is It Depends.  The agent and the seller both need a why.

Sep 26, 2017 07:47 PM #14
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Belinda

I agree - the viability of open houses for the seller these days is much more in question than it used to be, esecially with technology. Oh the buyers go, but are they actaully buying? Not so much.

Jeff

Sep 26, 2017 10:38 PM #15
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Belinda,  it really depends.  I have sold homes to people coming to an Open House but never the house in question.

Sep 26, 2017 11:20 PM #16
Rainmaker
1,428,378
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

You never know! I always feel like the right buyer for the house I'm doing an Open House for is on their way. It hasn't happened yet, but maybe next time.

Sep 27, 2017 03:36 AM #17
Rainmaker
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Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have never been one that believes an open house will help sell a home, but I am of the opinion that it doesn't hurt.  Although, in today's world, it certainly could be more detrimental, should someone be scoping out the home to eventually rob it.

Sep 27, 2017 06:55 AM #18
Rainmaker
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John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Ah Belinda Spillman the age old question, I have only been invloved in selling 2 houses to people that came to the house because it was held "open" (and one was the home I purchased 28 years ago at the open house prior to getting into real estate).

I know that it is currently the "hot trend" amongst brokerages to teach agents to get clients, does it actually sell the house, needle in a haystack comes to mind, but so does the risk of having the wrong element stroll through a house. Not my idea of a wise way to work in my clients best interest.

Sep 27, 2017 08:06 AM #19
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Thanks for coming by everyone.  It is a crap shoot these days.  Interesting to see what the rest of you feel about this subject.

Sep 27, 2017 08:08 AM #20
Rainmaker
1,387,949
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Belinda, I have sold quite a few off the open houses I have held (I have always assumed it was my incredible good looks that was the deciding factor). Nationally about 4% of homes are sold directly from an open house and another 8% claim it as a major factor (the buyer walks in, likes it and tells a friend or they call their agent about it). Either way I tell my sellers I do not go after 96% of the buyers, I go after 100%

Sep 27, 2017 08:14 AM #21
Rainmaker
3,309,820
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Belinda -- this is a question that involves not only location but the people involved, the specific property, the market and lots of other factors.  For me and most of my clients, open house events provide an excellent marketing opportunity.  It's a part of an overall strategy that needs to include detailed planning, preparation and proper execution in order to be most successful.   It's not the only way to market a home but still effective for me for many properties.  

Sep 27, 2017 09:09 AM #22
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

To answer the question: Only if my client wants this. Customer service first

Sep 27, 2017 01:11 PM #23
Rainmaker
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Susan McCall, Independent Listing and Buyer Agent
Compass Realty Solutions - Portland, OR
Bringing buyers and sellers together!

A good friend of mine that walked into an open house in Kansas City purchased it.  I have picked up a number of buyer clients from opens.  It really does depend on the neighborhood.

Sep 27, 2017 06:06 PM #24
Rainer
345,824
Jennifer Prestwich
Henderson, Thornton, Broomfield and Westminster - Henderson, CO
Madison & Co Properties

A few years ago, I would've been inclined to agree.  I hadn't had many - if any - viable buyers stop in to open houses.....
Until the last 2 years.  I've found that in a market that is moving as fast as our Denver market, Realtors will send their *pre-qualified* buyers to my open houses, or even come with their buyers.  
And those visits have often yielded offers - and under contract buyers!
Every market is different, and every market segment is different, but I think that having more eyes on your listing is always a good thing!

Sep 27, 2017 06:23 PM #25
Rainmaker
525,239
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

I'm glad so many Realtors don't believe in open houses. That leaves so much market share to me. Open houses work. It gets the subject house sold many times. 

Sep 27, 2017 06:55 PM #26
Rainmaker
562,686
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

It definitely depends on the local market and the location. Open Houses are a flop 90% of the time in my market. People just don't bother with them and we don't have enough of them to drive people out of their homes to spend an afternoon visiting home after home. But if they are in the downtown area, they seem to get a lot of traffic.

Sep 28, 2017 04:54 AM #27
Rainmaker
2,783,670
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Belinda,  I am not a fan of opens for many reasons.  That said, if sellers want their home held open - I will do it. Having a buyer walk into an open and say ... I want to buy this house ... is like winning the lottery.

Sep 28, 2017 10:14 AM #28
Rainer
157,330
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

An agent needs a large marketing repertoire which can include open houses, but doesn't have to. To each their own. Thanks for sharing!

Sep 28, 2017 01:00 PM #29
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

We've actually sold 2 at Open Houses - in 13 years. Ha. Not the best stats. We will do them, but only if the criteria seems right. ( Busy area with the possiblility of drop-in traffic, no valuables in home...etc) 

Sep 29, 2017 11:02 AM #30
Rainmaker
126,363
Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA
Future Home Realty - Seminole, FL
Providing the integrity and service you deserve.

Like you, I have never sold the house I did an open for to a buyer that walked in. I did get a buy that I sold a different home to. So, for that reason, I think they are worth doing if the house is on or near a high traffic area. Also, from a safety stand point, I have a lender and even a insurance agent do them with me. Safety in numbers for me and the house. 

Sep 30, 2017 06:28 PM #31
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