There is a home for sale in my neighborhood that has been on the market for about four months. The home has had an open house almost every weekend. We are talking double digit numbers of open houses and counting! Why would a seller and/or listing agent continue to hold an open house every weekend when it appears (in this case) they are not working? In short, do open houses sell homes?
To answer this question, I think we first need to look at who attends open houses. Attendees may include:
Seller Benefits: Market Exposure
An ancillary benefit to the seller is the listing agent may get feedback from open house visitors that might help in the ongoing marketability/sale of the home.
Prior to the rise of Internet use in the home search process, open houses were vital in allowing buyers to browse/view homes. As online home searches evolve, the function of the open house has also evolved. Virtual tours/multiple photos have become more commonplace. Open houses are used by savvy Internet buyers to confirm that the house they saw online is the dream house they have been looking for. Unfortunately, the Looky-Loos still keep coming…
Lastly, holding open house too often tends to show to potential buyers that the home is market worn and/or a tough property to sell. So give it a rest.
How Often Should You Have an Open House? My recommendation!
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