What should I expect from an Open House?

By
Real Estate Agent with ERA Wilder Realty, Inc

This is straight from ERA's Start-Up for Real Estate

The open house is another valuable part of the marketing process, offering prospective buyers the chance to view houses in a low-pressure, "browsing" atmosphere. With that in mind, you shouldn't expect it to generate a sale, at least not directly.

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What you should look for is interest expressed and requests for private showings made to your sales professional in the days following the open house.

Open houses are always valuable. If many prospective buyers attend, it shows you that the property is attractive and saleable. If very few people show up, it can indicate that the price is too high, and cause you to look for ways to improve curb appeal. Try not to draw your own conclusions - your sales professional will give you a full report on open-house activity and offer a professional assessment of its results.

For more tips visit www.HuntingForYourHome.com



Sales professionals often hold an open house for other sales professionals shortly after a house is listed. This event, usually held mid-week when real estate people can give it their full attention, can be as important to your efforts as your listing in the local MLS. The more professionals who see your house, the more prospects you're likely to reach.

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Rainer
102,157
Christopher Smith
TREGO REALTY - Cedar Rapids, IA
I agree Carl.  Opens are a valuable tool, even if the "real" intended purpose is not to sell the house you have Open.  You are trying to generate clients by offering other listings similar to that one in price and amenities, and to offer your "unique" services that no other Realtor offers. 
Mar 17, 2007 01:17 PM #1
Rainmaker
614,321
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS
The market has changed, and the once effective Open House is seldom a tool to sell the seller's home. To be honest, I think we need to share with the sellers that the purpose of an Open House is more to procure buyers than to sell the seller's home. Once we've done that, if they still want us to hold it open, and we want to hold it open, so be it.
Mar 17, 2007 02:50 PM #2
Rainmaker
220,976
William Collins
ERA Queen City Realty - Scotch Plains, NJ
Property and Asset Management

Carl,

Thanks for the post. The point is well taken. All too many agents and sellers alike expect an instant sale from the open house. In my 20 plus years that has never been the case.

Mar 18, 2007 12:37 AM #3
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Rainer
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Carl Berg

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