The question is, “are open houses truly effective in selling homes?” My answer here is an unequivocal “yes”!
I’m often asked my opinion about open houses and I’ve never wavered in my answer. I truly believe that they are an effective home selling tool. The fact is, whether you are selling a home a car or a book, the more people you get looking at something the better the chance you have at selling it – AND - for the most amount of money possible.
Open Houses are an effective way to get more people out and looking at a home in the most time efficient way. Here’s a few reasons why:
Comfort: There are some home buyers who are simply more comfortable going to a public open house than they are in making an appointment to see a home.
Curiosity often leads to buying: Some home buyers don’t want to make an appointment to see a home because they have not fully committed to buying and are ‘just curious’ so they are reluctant to make an appointment. I can assure you that almost every realtor has sold at least one home to someone who really wasn’t looking to move but saw a home they loved and could not resist.
Lack of time: With our busy lives many people find it easier to view a home when they have a window of time such as anytime between 2-4pm on Sunday to see it rather than a specific appointment.
Busy agents: Sometimes it can be difficult for a realtor to show their client several homes on a certain day or time. Open houses allow the flexibility for agents to encourage their home buying clients to go out and look at several homes on their own. Then if there is something they like the agent can take them back to a specific home for a more in depth viewing.
Exposure: All open houses are advertised therefore through the ads and signage alone the home is being exposed to more people.
Efficiency: When a realtor books an appointment to view a home that is listed for sale he/she usually requests a one hour time window to show the home to one client. So the seller cleans and prepares the home, leaves to allow the showing then returns usually an hour or so after the showing. So in 3 hours of the seller's time 1 client has seen the home. With an open house, the home is cleaned and prepared then multiple buyers can view the home over the 2 hour window.
The reality is selling your home is an intrusive process. However having as many possible potential buyers in your home is a necessity in helping the home sell quicker and for the most amount of money possible. I put my clients at ease by telling them how I conduct safe, supervised open houses. In those rare cases where a client does not wish to have one for their own reasons I of course respect that and use every other means at my disposal to market the home effectively. --by Brian Cyr