Do Open Houses Work?

Recently a client told me they don’t believe that open houses are a necessity to selling their house. In the past I have also had clients who wanted me to do open houses on a daily basis because they were told that daily open houses were great at promoting their house even though its overpriced.

There are two conflicting answers and they are both right and both ideas need to meet in the middle. Open houses are great at bringing in clients who will otherwise not hire an agent right away and just want to get an idea of what a house in that price range looks likei There are many reasons why people will come to an open house,

neighbours checking out the value of the neighbourhood
people seeing what a house in that price range will get them
comparing houses
maybe their agent is busy

I believe the open house is great at the beginning of a listing to generate interest the first weekend. An agent open house is a good option as well to get some buyer agents in the house. On the other hand, too many open houses proves that a house is overpriced, or something is wrong with the house. It also shows buyers who are interested and waiting for the price to drop that the owners are desperate to sell and cannot find a buyer.

There are also other things which an agent might not tell you, sometimes agents take overpriced listings to do open houses so they get buyers. Some agents will even take the listing for no commission just to cash in on a hot area of buyers. This is a proven method of gaining clients. Who’s interest do you think your agent is looking out for?

My advice is to list your house, have a couple open houses and get your house sold. If for some reason the house does not sell examine the price, if it is in line, then wait. A buyer who is interested in your house, agent or not, will call your agent and book a private showing. If you were interested in a house, you would too.

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