Should I Have an Open House?
Here’s an article I found interesting, “7 Open House Myths” by Bill Gassett. It was an informative read about some important facts to consider about open houses, so I wanted to share it with the folks that visit my blog. Bill’s article shares some of my thoughts regarding open houses. Although, as a Broker/Realtor, its not always a popular idea to suggestion to some clients that avoiding an open house may be best. After all, seller clients see homes sell like hot cakes at open houses and broker opens on these real estate shows, right? Unfortunately these staged situations on TV are usually not reality and do not disclose some of the negative aspects of an open house.
I was told by mentors in my early days of real estate to hold open houses and collect contact info so I could prospect for new buyer and seller leads. After all, if they aren’t interested in your client’s home they may be interested in another listing you have or better yet, you pick up one of your seller’s neighbors who’s also ready to sell. Is this why a seller cleaned their home and left for half the day on their weekend off? I never felt comfortable prospecting for new clients off my client’s properties so after becoming a broker I rarely suggested holding an open house. Of course many clients request them and I have open houses to accommodate their request but I rarely suggest having them. But from a seller standpoint how would you feel about your home potentially being used to collect leads for your listing broker? Even if you’re okay with your listing broker collecting leads off your property there may be other reasons you may not want to have an open house.
The author, Bill Gassett, is an extremely successful agent in Massachusetts. I have personally sold my fair share of homes the same day, the same week and the same month just like other successful agents and I would put my tract record up against anyone. As far as my sales go due directly or indirectly to an open house, I’m currently at a lifetime average of zero.
Real, qualified buyers are not sitting around waiting for you to have an open house. Buyers that are in the market for a home see a house they like, they go see it. I also believe if you do happen to sell a home during an open house it would be likely you would have sold to that same buyer anyway. Let me be clear, I will hold open houses if my clients want them. I’m just not likely to recommend them.
Neither Bill nor I totally believe in the usefulness of open houses, yet we are still successful in real estate and we get our client’s properties sold. 7 Open House Myths is a great read about the truth in my opinion!
Here’s another informative article by Bill Gassett regarding open houses: