Generally speaking, I do not do Open Houses.  However, I have done a couple recently.  I know some realtors will say to other realtors that Open Houses are a waste of time while they continue to do them.  If you ask some other realtors, they will either say they are doing Open Houses to impress their seller or to find additional home buyers without a real estate agent.  This is true in a lot of cases.  However, Open Houses are a good opportunity for sellers as well.

I just hosted an Open House for one of my sellers.  I told her on the front end when I took the listing that I don’t normally do Open Houses.  I told her I will be happy to do it for her if she wants all the “lookie-loos” in the neighborhood to come check out her house.  Sure, I told her, buyers come through too, but if the house fit their needs and/or wants, they would make a showing appointment.  You may get an offer via an Open House, but that offer would have come through a normal showing if the Open House wasn’t offered.

In this case, we decided to do it for another reason.  The house has been on the market for much longer than I expected.  Through my follow up with the agents who have shown the home, I discovered a pet odor had developed.  A new puppy moved in after I listed the house.  My seller did a great job of cleaning all the carpets.  We held the Open House to get feedback.  We needed fresh noses and eyes to give us feedback on the house.  Also, the home had been on the market that the neighbors weren’t so curious anymore.  They picked the first batch of flyers from the info box and aren’t so curious anymore.  Did we sell the house at the Open House?  No.  However, there was no disappointment because I was honest on the front end with my seller about Open Houses.  Did we get the feedback we were looking for?  Yes, so with that the Open House was a success.  We actually did get a good prospect, but we’ll be happy if the feedback is all we take from the Open House.  For me as an agent, it confirms for the seller the feedback I’ve been giving her.  For her as a seller, it gives her the benefit of having firsthand feedback.

When else can an Open House be good for both the agent and the seller?  When the home is priced right in a hot area and still occupied by the seller.  Why?  The seller can avoid the hassle of numerous showings.  The agent can get an offer without the back and forth of numerous showings.  If you know the house will sell quickly, having an Open House can streamline the process.  The agents who view the property on the MLS will see the Open House.  One of the couples who came through the Open House yesterday had called to set up a showing and agreed to come to the Open House.

Open Houses are also good for buyers.  They all generally fall during the same hours and the same days (this varies by area), so the buyer can view multiple properties in a short amount of time without having to make a formal showing appointment.  This can also save some time on the agent’s side.  Often buyers feel more rushed at an Open House, but don’t!  Take your time.  You can also pick through the properties that way to decide which ones you would like a more formal showing appointment to view the properties in greater detail at your own pace.

So, no, I don’t think Open Houses are a waste of time.  I don’t normally do them, but if the circumstances are right and there is something to gain for the seller, not just me, then I am happy to do them.  And I’m happy I did one yesterday.