Do Open Houses sell your house?
Who goes to Open Houses?
Chances are, they are your neighbors you’ve never invited to your house, and now is their chance to see what your house looks like!
Open House is mostly a means to bring more business to the agent holding the Open House. Potential buyers will come to the Open House out of curiousity. They like the way the house looks on the outside, and they like the neighborhood. But they have no idea the price or size of the house. Most of the time, the Open House home is above their price range and smaller than they want. The agent there at the Open House has the opportunity to show them other homes and eventually selling them one that is not the Open House home.
With internet marketing, and the accessiblilty of the Multiple Listing Service, Open House is not a very effective means of selling a house.
However, there are circumstances when an Open House would make sense. If the property is in a community or tract of very similar homes, and if there are other homes in that community on the market, you would want to hold Open House if your home is the best one in the neighborhood. As potential buyers tour Open Houses in the area, your house will be the best choice by comparison. This way, your home would stand out and attract a buyer’s attention. It is especially important to hold Open House on the same day that a similar house on the market is having Open House. This is only effective if your house is obviously the better buy. If it is not, you would only be helping your neighbor sell his house.