One of the most frequently asked questions I receive from sellers when I go on listing appointments is whether or not I do open houses.
Sometimes we do, but most of the time we don’t. When I’m asked this question, I like to make it very clear why we might choose to hold an open house.
Frankly, open houses are more to the Realtor’s benefit than the seller’s. This is because open houses can generate leads for us. Sometimes the people who drop by are sellers who are checking out our marketing. Other times, we get buyer leads.
Also, open houses are most often held in vacant properties rather than in occupied ones. This is especially true of gated communities, where open houses are a must in order to gain prospective purchasers.
Sometimes, buyers want to look at and explore the property without the Realtor following along. This ties into one of the most unique reasons we hold an open house, which is to follow up with an interested buyer.
We may actually hold an open house just for one potential buyer, even if it’s only for an hour or so. Sometimes in situations like these other buyers may show up, which can actually be beneficial.
But ultimately, open houses are somewhat old-fashioned as a regular way of doing business. Back when I started real estate and was still carrying around the multiple listing book with one-inch, black-and-white photos, open houses were much more popular. These days, all the photos that are available online mean that buyers have access to a virtual “open house” 24/7.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.