Lew Sichelman is one of my favorite real estate writers. It helps that he sometimes quotes me in his articles. His latest article pertains to Open Houses - Door is Closing on Open Houses.
Do open houses work? Are they worth it? The article presents both viewpoints. It also created some talk in my office today.
I heard over and over: Yes, open houses work! Yes, open houses work!
So I probed a bit deeper: How do they work?
"They help me gain new buyer clients," was the only response I heard.
But, do they sell the house you are holding open? The answer was a resounding, "No."
Yes, many agents have success finding new clients while holding open houses. I've done it. Many newer agents use it as a way to find their first clients. Of course, some experienced agents do the same.
Personally, I am not a fan of the open house. My job is to sell the home I have listed. Yes, I often obtain new buyer clients from my listings. But is my time - and more importantly, my sellers' time - best utilized by my sitting at an open house? Sure, I may meet a new client. How is that serving my seller?
Let's spend our time productively.
Sellers do not need to vacate their home for 3 or 4 hours on a Sunday so I can try to increase my business. Sellers can use that time to catch up from the workweek to ensure their home remains in model home condition for showings. Sellers can also use that time to enjoy their family...selling a home is stressful enough - we don't need to add to it by kicking them out of their house.
I can use the time to work with clients...or to market your home...
Heck, I can even use that time to speak with YOU, my seller, to discuss the market and how we are going to get your home sold.
According to the National Association of Realtors, only 7% of buyers begin their home search by visiting open houses. Meanwhile, about 85% of buyers begin their search on the internet. Where would you, Mr. and Mrs. Homeseller, prefer that I spend my time?
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
Keller Williams CT Realty
Connecticut Real Estate and Homes for Sale