When people have their house for sale they obviously would like it to sell as quickly as possible. Home sellers want to have as much exposure as possible for their house in order to find the right buyer and one way to market the home is to hold an open house. But is holding an open house really a good idea?
There are statistics all around stating stuff like open houses result in a buyer one out of twenty or one out of a hundred visitors or any number in between. Not very good odds in my opinion.
There is the issue of security for both the homeowner and the Realtor hosting the open house. Strangers show up and walk through your home pretty much on their own. Much of the time it is nosy neighbours and other people that have their own house for sale and are checking out the competition for their own property.
When a group shows up together (such as a family with adult children) it is very hard to keep tabs on every person in the house. Some people could head upstairs to check out the bedrooms while others mill about in the kitchen area and one Realtor can’t watch them all!
People are getting used to the idea of having to show identification in order to enter an open house. They realize it is a security issue for the homeowner and if you are going to visit open houses as a potential buyer you should be prepared to identify yourself.
Some Realtors like to do open houses because it is a good way to meet buyers and it is a legitimate part of the business to do that. Not only are they trying to sell the house they are in but they also want to get new buyer or seller clients. Some Realtors are very successful at this. Myself, I can’t remember the last time (if ever) I sold an open house or got a client from one. I guess I’m not pushy enough!
These days with video tours, YouTube and websites that allow Realtors to load dozens of digital photographs I feel that open houses are a thing of the past and do not serve you well when trying to sell your home. Anyone who is a serious buyer will make an appointment with their Realtor to come and see your house if they are truly interested.
—Property Millionaire Intensive
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