Why Realtors Really Do Open Houses

Why Realtors REALLY do open houses…

I try to be very clear and honest with my sellers that open houses have a statistically insignificant chance of helping in any way to sell their house, BUT I’m happy to do them if they’d like because quite frankly they’re great for my business.
It’s exciting when your house goes “live” to think your Realtor is doing all that they can to get the house sold for you and of course nothing is a more visible effort to the seller than the Open House. In reality though Open Houses are just that, a window of time where folks who don’t have or want a buyer’s agent can get into the house easily.

Of course in the Triangle market there are very few active buyers who are NOT working with a buyers agent and any good buyer’s agent will let you know that looking at the house outside of the open house is best so that you can feel free to discuss the house, its pros and cons with them and not risk being overheard by the seller’s agent.

So, if not buyers who does go to an open house? Usually it’s the neighbors. The neighbors are not in the market, they’re just around and want to see how your house shapes up compared to theirs. That’s fine, that’s a great touch for me the listing agent and, if we hit it off, down the road they may call me when they want to sell. The second most common attendee at an open house are the serial lookers, they just like spending weekend afternoons looking at houses because really, they’re just not that into football. Not much gain for the Realtor and no gain for the seller but at a slow time they can break the monotony! Finally, and this is my favorite group you get the folks invited by your agent. I do this with gusto when I have an open house, I put it on social media, sometimes do email blasts, the whole gambit BECAUSE this is a chance for me to reach out to my clients (particularly those who may be nearby) and say “hi” and maybe catch up a bit. At a popular open house, I’ll get face time with 3-4 past clients who stop by to say hello and maybe ask a question or two they’ve been meaning to write me about. It’s great, for me, but again does nothing to really help sell your house.
There IS one scenario where open houses can be beneficial. If the market is exceptionally hot and you are anticipating multiple offers or the house selling quickly particularly during peak season, the buyer’s may not be able to get in fast enough with their buyer’s agent to get into the game. An open house is now THEIR chance to see the house if their buyer’s agents schedule is tight which can easily happen in peak selling season.
So the general rule is open houses don’t usually hurt anything and can be beneficial in very limited situations, just remember your agent is doing them for the benefit of their own business. If your house isn’t selling I promise it has everything to do with price and condition and not the Open house or lack thereof.