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Do Open Houses Sell Homes?

What is the likelihood that your home will sell at an open house? Open houses have been an integral part of the home sale business. But, do they work?

Sunday open houses are a hit-and-miss proposition. When a home is open to the public, it is open to anyone who wants to take a look. Not everyone who walks through will be a legitimate buyer.

Some open house visitors will be neighbors. While probably not in the market themselves, neighbors may have friends or relatives looking to relocate.

Most people who visit open houses are directed there by the signs. This means they don’t have much information about the home when they walk in the front door. So even when open house visitors are legitimate buyers, they may not be well-qualified for the house in question. They may need a larger house or a smaller house, or something more or less expensive.

From a seller’s perspective, there are pros and cons to having a home held open to the public. On the positive side, an open house gi ves buyer s ’ agent s the opportunity to send their clients through the property. Buyers who may be reluctant to make an appointment to see a new listing will often be willing to stop in at a Sunday open house. Sometimes, they are pleasantly surprised by what they see.

Buyers’ agents sometimes make the mistake of screening listings too carefully for buyers. When this happens, one of the only ways buyers will be exposed to a rejected listing is if they find it on their own at a Sunday open house.

However, open houses can be abused. If a listing is open all the time, there is no reason for a buyer to make an appointment to view it privately. The most productive showings occur when buyers visit a listing with their agent, privately-without the distraction of others.

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