Do open houses really sell homes? I am frequently asked this question and always respond the same way—of course! The house may not sell the day of the open house, but an open house will provide more exposure and advertising, which is key to getting a house sold quickly and for top dollar. There are many benefits of having an open house.
First of all, open house signs in front of the house and in the neighborhood, attract attention. I like to put my open house signs up a few days before the open house so that those driving by will see it and tell their friends. Hello exposure! I also love when neighbors come through! Neighbors sell houses! If you love your neighborhood, wouldn’t you tell all your friends and family about the great house for sale next-door? Neighbors love to pick their neighbors! They will spread the word about the listing in their neighborhood and this is great word of mouth advertising.
On many real estate websites, advertising is boosted when an open house is posted on the listing. As soon as a realtor advertises the open house, the website will move that house to the top of the list for promotion. This means more online exposure, which is very important because the majority of buyers begin their home search online.
Extra print advertising is another benefit of having an open house. My agency advertises our open houses in the local newspaper and on the newspaper’s website, gaining even more exposure. Everyone in town knows of the open house pages in Sunday’s paper. I even see people walking through open houses with the print ad in hand.
An open house has the ability to convert a casual looker into a buyer. If a casual looker is interested in the curb appeal or is attracted to the pictures they see advertised, then they have a chance to view the home, at no obligation, at the open house. I have seen many people walk into a house as a casual looker that end up buying the home because they have to have it. There are lots of people that breeze through my open houses because they are looking for that right property but aren’t in any rush. They will know it when they see it, they tell me and they don’t want to waste a real estate agent’s time, they say. I’m delighted to have the traffic!
Finally, scheduling an open house will create a sense of urgency for those buyers that come to see the home before the open house. If a buyer pulls into the driveway and sees an open house sign, they will notice it. If they like the house, they are fully aware that there will be many people going through the dwelling during the open house. I have seen many purchase agreements negotiated just before the open house because the buyers didn’t want more people going through their house.
I always tell my buyers that I promise an open house within the first 2 weeks of putting the house on the market. This gets the listing a quick start out of the gate by boosting all forms of advertisement. Remember, exposure is key to getting a house sold quickly and for top dollar.
If a listing has been on the market a while without any offers, another open house will give it an extra boost of advertisement. If I do a price adjustment on a listing, I like to accompany it with an open house that Sunday. It just further advertises the price change.
When interviewing a Realtor ask them if they are willing to host an open house. If they are not, you may want to consider hiring a full-time agent, one willing to work on Sunday afternoons or whenever buyers want to see homes. A huge part of being a Realtor is being available to show houses when people aren’t at work. We don’t keep bankers’ hours, we are Realtors. Sunday afternoon is prime real estate time! I hope to see you all at my next open house. I welcome curious neighbors, casual lookers, and of course qualified buyers!