Prior to the internet, open houses rarely sold homes, but all of that has changed. Buyers are constantly searching popular real estate web sites such as www.Realtor.com and often learn of new listings and price reductions sooner than their Realtor (who spends a lot of time out of the office and not in front of the computer). So, will an open house sell your home?
Buyers typically take the next step and view the home on their own during an open house; if they like it they can contact their agent to write an offer. I can attribute about 50% of my listings selling this year from buyers who attended open houses. Most of these buyers looked at the home on their own and then contacted their real estate agent to write the offer.
While open houses can be part of the buyer’s educational process, it can also bring the buyer right to the front door. When you want to sell your home in the shortest period of time for the highest price, making your home available for showings (especially during set open house hours) is your best bet.
Visiting neighbors are an asset to open houses; typically they come and talk up the neighborhood (not a bad thing with a house full of potential buyers). Also during an open house, the more the merrier; the more people in your home milling around, the safer your home and possessions are.
The primary benefit to the home seller is that by having set open house hours, the homeowner knows when they need to have their home in show condition and vacate. Often, the most difficult aspects of selling an occupied home are keeping it in show condition. And leaving for showings (especially for those with large dogs and children). An open house schedule can minimize those scattered showings.
And for those home sellers who believe your agent is only looking for new clients – likely not the case. Most experienced real estate agents such as Joe and I would rather spend Sunday with our families than holding our listings open. Yes, really! We give up Sunday with our family because we believe open houses sell homes. This is our job, to sell our clients home quickly for the highest possible price.
