I am not sure where this myth got started, but I am sure of one thing — it is not true, in a number of ways.
Where the Myth Comes From
Maybe it makes sense to think about why some agents (and the general population) believe that open houses only benefit the agent hosting them, and only result in him or her picking up new buyer leads.
First, some homeowners simply don't want to allow open houses. If fewer than half of the houses on the market are open to the public, we will never know how effective an open house could have been as a tool to help sell those homes.
Second, people think most open house visitors are nosy neighbors or looky-loos. Sellers (and agents) often forget that the best referral source for a listing is the people who already live in the neighborhood! They love their neighborhood. They want friends and family to live nearby. Why not let them help you sell your listing?
Third, some listing agents simply don't want to take the time and make the effort to host a proper open house.
What a Well-Attended Open House Actually Takes
- Get it in the MLS early. The open house needs to be entered at least four days in advance.
- Tell the agents who sell in the area. Share the open house with the brokers and agents who have sold recent listings nearby (do most agents even know how to use the MLS to find that information?).
- Team up with the other open houses that day. Find out what else is open at the same time in your area and let those hosts know: if a buyer at their open house isn't interested, send them to yours — and you will gladly let them represent any unrepresented buyers they send over.
- Get the house ready. Clean, decluttered, and staged — or at least minimized and tidied up properly.
- Arrive an hour early. Lights on, curtains open, and the temperature just right inside before the first visitor walks in.
- Have a sign-in sheet and a plan for following up with every visitor afterward.
- Have marketing materials ready for visitors to take with them.
- Be prepared to answer questions about the property and the neighborhood.
- Be ready to negotiate any offers that come in during or after the open house.
The Real Reason I Host Open Houses
Personally, I think the most important reason to host open houses is this: the simple act of scheduling the open house on the MLS gets yet another email sent to every potential buyer who is "watching" the area. I can't tell you the number of times I have scheduled an open house on a Tuesday morning and had agents requesting showings for Thursday and Friday — before the open house. They got the email from their favorite real estate website or a notification from their favorite app, they liked the property, and they wanted to see it before it sold!
Bottom line: an open house is not just three hours on a Sunday. Done right, it is a neighborhood referral engine, a second round of MLS alerts to every buyer watching your area, and a reason for showings to start before the doors even open.
Thinking About Selling?
We plan our open houses the way we plan the rest of the marketing — properly, and ahead of time.
How We Sell Homes What Is My Home Worth?By Change Real Estate — More Las Vegas Real Estate Articles