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Open House - Good idea or waste of time?

None of the agents in our office hold open houses. I asked about this when I started and the common denominator was that homes rarely sell at an open house.

I'm wondering if the reason homes rarely sell at an open house is because the agents don't market them properly. What do you think? - by Thomas
I'm wondering if the reason homes rarely sell at an open house is because the agents don't market them properly. What do you think?
I think you're probably right. Balloons and signs can only take you so far. I don't think the average real estate agent does much to draw a crowd to open houses. - by SpeedRacer
I'm wondering if the reason homes rarely sell at an open house is because the agents don't market them properly. What do you think?
If all you are going to do is slap a cheap ad in the newspaper, send out a few invitations, and put open house signs on street corners then you might as well skip it. :sl - by WobblyBox
From a buyers perspective, I see no value in an open house. When I was shopping and I saw a house that I was interested in looking at, I would call my realtor and they would set up a time for me to go through it. To me, that is more convenient. - by Derek
IMO an Open House is most convenient for those buyers who are already out and about. - by Jolly Roger
If all you are going to do is slap a cheap ad in the newspaper, send out a few invitations, and put open house signs on street corners then you might as well skip it. :sl
What other ways do you recommend? - by Thomas
I think they are basically a way for Realtors to pick up new clients more than sell the house that is open... - by MoreMobile
When I put my house on the market, one of my questions for my realtor was about open house. He told me when you see an open house, it's usually because of 1 or 2 things...
1.... The seller asked the realtor to do it,
or
2.... The house was on the market for a while, and the realtor needed to prove to the seller that they were doing SOMETHING proactively so that when the listing period comes up, they can have reason to keep the listing.

He told me that open houses simply don't sell houses. The best thing that might come out of it, is the realtor might meet some new potential buyers, however he said he'd get the same results by doing floor time (Staying in the office, waiting for the phone to ring, or someone walking in).

Frankly, I was surprised, but he's the expert.

Now having said all that... I NEVER would have looked at, let alone purchased the house I moved into a few months ago!!! - by Coda1108
I'm surprised to hear that so many people don't value open houses. I would have thought it was worthwhile for the agent, if only to have a high profile in the market.

Also, I believe it would be very difficult to track all the results of an open house through indirect means such as word-of-mouth from people who walked through but didn't buy, or even just mentioned seeing the signage for the open house. - by Ricardo
I have always loved going to Open Houses. We've never seriously considered buying one though. We've lived in our home for nearly 40 years and will probably never move.

I think a lot of people go to Open Houses to see what's new these days and simply for the fun of it. We often get ideas for remodeling or redecorating when we go to these. - by ozzie
I'm surprised to hear that so many people don't value open houses. I would have thought it was worthwhile for the agent, if only to have a high profile in the market.
This is a potential but you have to take into account ROI. You have to ask yourself if it is worth sitting on an open house for however many hours or is there a more effective way to achieve the same or better outcome. - by AZBroker
From a buyers perspective, I see no value in an open house. When I was shopping and I saw a house that I was interested in looking at, I would call my realtor and they would set up a time for me to go through it. To me, that is more convenient.
Another buyer's view may just be one of my personal quirks but I'll tell it anyhow. When I was looking for a home two years ago, I was looking for my dream home. (Every house has the potential to be *someone's* dream home, right?) I was so thrilled when I found it that I was upset to see another realtor bringing someone through the house the first day *we* looked at it.

I guess what I'm saying is that if there'd been an open house with many people looking over, I realize that I may not have even gotten the house and that's a sad thought. If I'd be a realtor, I think I'd much rather match up people with their dream homes one by one instead of throwing such a wide net. - by destiny
OPEN HOUSES:

Just look at all the mission statements Realtors make on their website, many, in fact all of them trot out pages of we are the best eager-beavers in the business [anyone care to adopt this phrase as their trademark, ask at checkout for a payment slip] so Open Houses surely are a means of showing buyers in a positive way your sales commitment to them. Your delivering. - by Incidentally
Once a year a number of home builders take part in the Parade of Homes. It's a huge event and the public tours all of these wonderful houses. I feel certain that it has to bring business to the builders and probably the realtors too. - by ozzie
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