“We talked with an agent about selling our home. She told us she never does open houses because they don’t sell the home, they’re just a chance for the agent to meet new clients. We always thought open houses were a good idea. What do you think?”
Answer:
Like many things in real estate, open houses are widely misunderstood.
Myth #1: Homes for sale are held open regularly.
People think this because open houses are so visible–you see all those open house signs every weekend. Truth is, the average home is held open once, or not at all. For every home you see held open this Sunday, ten won’t be.
Myth #2: Open houses never work.
This is the one the agent told you. My team and I have sold many homes from holding them open. Attractive, well-priced homes near (but not on) one or two main roads can make a good open house, especially in a hot market.
Myth #3: Open houses are the #1 way to sell a home.
The flipside of #2. Open houses are just one tool in an agent’s toolbox. Some homes make good open houses, others don’t. Most homes sell without ever being held open. Depending on the market, the home, and the pricing, an open house may work or be a total waste of time.
Bottom line: It’s usually smart to try one open house. If it goes well, do more.
