Do Open Houses Work?

Ahh, open houses! Who doesn't love sneaking a peek into a stranger's house? I never get tired of it. But do open houses actually help sell a home?

As far as our own personal experience goes, we see about one sale per year, directly from a buyer seeing a home during one of our open house events. But the effect of the open house isn't always so easy to track.

What happens when a nosy neighbor comes by for a look and then tells their co-worker about a cute new home on the market they saw over the weekend? In a small town, buzz matters, and an open house can create just that buzz.

We believe that most homes for sale would benefit from an open house, but there are some basic criteria we use to judge each specific selling situation:

• Is the home or property potentially hazardous?

• Is the seller especially private or uneasy at the thought of strangers in their space?

• Is the home in a very remote location, or is it difficult to access?

If the answer is “yes” to any of these questions, an open house may not be a great way to market the property.

On the other hand, it may be a good idea to double down on the open house concept if any of these apply:

• Does the home have limited showing availability due to a seller's schedule?

• Is it difficult to capture unique features and/or the home's essence through the listing photos?

• Is the home located in a popular neighborhood with a lot of vehicle and/or foot traffic?

When is it appropriate to attend an open house? Do I have to be “in the market?”  No way. Don't ever be shy about attending an open house, whether you are actively looking or not.  

As a real estate agent, I know most open house guests are not in the market to buy the featured home (or any home, for that matter), but getting some traffic at an open house event is super helpful—the feedback you provide as a neutral observer provides valuable insight that can help our sellers immensely.

While you’re on your Sunday drive this weekend, keep an eye out for an open house sign and stop in to be a little nosey. Your local real estate agent would be ever so grateful.