An open house when your property is first placed on the market can be
very important, but not for the reasons most homeowners think. Just
like with advertising, most visitors to open houses rarely buy the house
they come to look at. They may not even know the price of your home
when they stop by to visit – they probably just followed an "Open
House" sign to your door.
An open house performs a similar function to the neighborhood
announcements – it lets all of your neighbors know that your house is
for sale, and it practically invites them to come "take a look." Being
generally nosy, a lot of your neighbors will take advantage of the
And they may tell their friends about your house, creating more "word
of mouth" advertising.
Of course, there are other reasons for holding open houses, too.
Listing agents who "farm" a particular neighborhood use them as an
opportunity to meet with other local homeowners who will someday be
selling their home. Your agent may hope to list their homes in the
Open houses held after your home has been on the market awhile do
not usually serve a useful purpose in selling your home. Most of the
neighbors already know your house is for sale and open house visitors
rarely buy the homes they visit.
However, if you really want more open houses, your listing agent may
allow other agents to hold it open. Open houses attract prospective
homebuyers and agents hope to convince some of those homebuyers
to become their clients.
copyright 2000 by Terry Light and RealEstate ABC, revised 2002