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Do open houses work to sell a home? Are open houses necessary for a home seller? For years the public has been fooled into believing that open houses are an important part of real estate marketing. In the digital age open houses are worthless. Open houses benefit one party - the real estate agent. 
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See 7 open house myths you should never believe. Lots of real estate agents want you to think open houses are necessary to sell a home. They are not!
Bill Gassett's insight:
In real estate there are always myths floating around that far too many people believe. One of the most common categories filled with myths is the real estate open house.
Far too many people believe that these are a necessary marketing activity to sell a home. In fact, that is far from the case.
What many home owners fail to understand is that they are actually putting their possessions in harms way. Most people have no idea how many thefts take place from an open house.
Lots of real estate agents don't want sellers to know this because the open house is a great place for a Realtor to prospect for business.
In my latest article at Maximum Real Estate Exposure, you will see a detailed review of the most common real estate open house myths. If you are going to be selling a home what you need to know is that an open house is completely unnecessary.
Quite often the wrong people will be coming through your home. Keep in mind anyone is allowed through the door. There is no screening.
You might become one of the unfortunate ones who loses a treasured valuable. Don't let this happen to you. Discuss open houses with whoever you are going to be interviewing to sell your home.
Find out up front in the agent is going to hold an open house. Make sure you have a look at the above reference for all the reasons why you should skip having an open house.
If you enjoy the article, give it a scoop or share socially.
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Can you sell your home without an open house? You sure can! An open house is unnecessary and does very little to get a home sold in the digital age.
Bill Gassett's insight:
One of the questions that lots of sellers will ask a real estate agent is "do open houses work to sell homes". Unfortunately, there are a lot of Realtors who will mislead homeowners into thinking that an open house is a necessary marketing activity.
The truth of the matter is that open houses are completely unnecessary to sell a home in the digital age.
Real buyers are on their computers and smart phones everyday looking at real estate. When they find something they really want to see they schedule an appointment with their Realtor.
There are a few reasons why real estate agents promote open houses so aggressively. They are as follows:
So why shouldn't a seller have an open house? There are a few simple answers. An open house brings anyone under the sun into someones home. There is no screening. People will be coming through the door who don't belong.
Open houses are a real security risk to homeowners. Unqualified buyers and the risk of theft are prevalent at open houses!
Does this sound like something you would be interested in? Lots of real estate agents will tell you an open house is great. They are saying that for their own interests NOT yours.
Sell your home without an open house by hiring a great agent and pricing your home correctly.
Scoop.it!
Is a real estate open house really necessary to sell a home? No it is not! Open houses offer far more benefits to a real estate agent than a home seller
Bill Gassett's insight:
Do open houses work to sell homes? You are probably thinking sure why not? Unfortunately you would be wrong. Open houses are one of the least effective marketing methods to sell a home.
If that is the case then you are probably wondering why so many real estate agents hold them. The answer to this is simple. An open house is a fantastic opportunity for a real estate agents to meet clients that may buy elsewhere.
There is also the possibility that someone in the neighborhood or general area is thinking of selling their place - they stop by and if the agent strikes up a good rapport with the agent it could lead to future business.
The dirty secret of the real estate industry is that the benefit of an open house lies with the real estate agent NOT the home owner.
If you think there is something magical about a 2-3 hour window on a Sunday afternoon to sell a home then you are nuts! Serious buyers set up showings with real estate agents.
Serious buyers don't say to themselves if there is no open house I am not going to bother to look. How ridiculous does that sound.
Real Estate agents however want you to believe that open houses are necessary to your success. You see agents that don't have much business love doing open houses for the ability to get prospects. Open houses do not sell homes!
Another drawback for a seller opening up their home to anyone coming off the streets is the possibility for theft. Folks it happens all the time. People get ripped off at open houses!
When you let any warm body off the street into your home how many of them do you actually think are even qualified to pay your asking price? Don't hold your breath.
If you really want to sell your home focus on picking a top producing agent who will price your home correctly and market the heck out of it. When these two things are done you will never have to bother with doing another open house again!
If you enjoy the article please consider scooping it or sharing socially.
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The drawbacks of an open house are clear. Any home owner looking to sell should understand the facts about real estate open houses.
Bill Gassett's insight:
Every Sunday driving around the countryside you are bound to see various real estate companies sporting open house signs. Like apple pie this has become a past time for the real estate industry. The dirty little secret however that many real estate agents want to sweep under the rug however is that open houses are one of the lest effective marketing activities for a seller. Almost all of the benefits lie with the real estate agent who uses the open house opportunity to prospect for future clients. It could be a neighbor who is thinking about selling their home or someone who walks in off the street who comes no where near being qualified for the asking price. For the seller neither of these types of people help their cause yet they are the majority of people that walk through the door. According the the National Association of Realtors less than 2 percent of all homes are sold as a direct result of an open house. It makes perfect sense as any serious buyer is going to call and schedule a showing. Here is the biggest rub - an open house presents real drawbacks for a seller. The most alarming being the security issues. Theft can be a real problem at an open house. It is easy for anyone to stroll in and take what they want or better yet come back later when nobody else is around. If you are a seller considering selling your home and asking a Realtor to host open houses I would read the article first. You may find yourself passing on doing an open house all together!
Bill Gassett's comment,
October 10, 2014 7:53 AM
Thanks for the scoop on the drawbacks of an open house @Vandore
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Scoop.it!
Hold an open house to increase your odds of getting burglarized. See how holding open houses can be a mistake and why they aren't necessary to sell a home. Open houses benefit real estate agents far more than they do homeowners. Real buyers always schedule showings for homes they are interested in viewing.
Bill Gassett's insight:
For as long as I can remember open houses have been a part of significant percentage of real estate agents marketing plans. Before the internet came to be holding an open house was a worthwhile exercise to give a sellers home additional exposure.
With the advent of the internet that all changed. Buyers are able to freely look at homes online in the comfort of their own house.
When they want to see a home they can easily reach a real estate agent to schedule an appointment. This is what all serious buyers do!
Open houses are no longer necessary and put a sellers home at risk of theft. Many real estate agents unfortunately do not educate their clients of this fact.
Open houses bring anyone through the door whether they are in the market to purchase a home or not. There is no point in a seller having people who are not qualified to purchase or belong in the home.
So why do real estate agents hold open houses? A pretty easy question to answer. They are great activities for an agent to prospect for business whether it is another seller in the neighborhood thinking of selling or a buyer who can't afford the open house but are a buyer none the less.
If you are selling a $400,000 home and the person walking through the door can only spend $300,000 it is pointless. They won't be buying the home.
For a real estate agent, however, this is a person who can buy a $300,000 home elsewhere!
For this reason real estate agents love to push open houses. The problem for the seller is they are magnets for crime. Lots of theft occurs in open houses every year.
If you are selling a home you don't need an open house. What you do need is an exceptional agent who will price your home correctly and market it well online.
Take a look at the article referenced above. It will be an eye opener on open houses.
Paula-Damico-Auger's curator insight,
May 16, 2018 9:36 PM
For as long as I can remember open houses have been a part of significant percentage of real estate agents marketing plans. Before the internet came to be holding an open house was a worthwhile exercise to give a sellers home additional exposure.
With the advent of the internet that all changed. Buyers are able to freely look at homes online in the comfort of their own house.
When they want to see a home they can easily reach a real estate agent to schedule an appointment. This is what all serious buyers do!
Open houses are no longer necessary and put a sellers home at risk of theft. Many real estate agents unfortunately do not educate their clients of this fact.
Open houses bring anyone through the door whether they are in the market to purchase a home or not. There is no point in a seller having people who are not qualified to purchase or belong in the home.
So why do real estate agents hold open houses? A pretty easy question to answer. They are great activities for an agent to prospect for business whether it is another seller in the neighborhood thinking of selling or a buyer who can't afford the open house but are a buyer none the less.
If you are selling a $400,000 home and the person walking through the door can only spend $300,000 it is pointless. They won't be buying the home.
For a real estate agent, however, this is a person who can buy a $300,000 home elsewhere!
For this reason real estate agents love to push open houses. The problem for the seller is they are magnets for crime. Lots of theft occurs in open houses every year.
If you are selling a home you don't need an open house. What you do need is an exceptional agent who will price your home correctly and market it well online.
Take a look at the article referenced above. It will be an eye opener on open houses.
Scoop.it!
The False Hope of an Open House. Don't be suckered into believing that an open house is necessary to sell your home. It is not!
Bill Gassett's insight:
I am sure you have seen the open house signs around your neighborhood for as long as you can remember. Years ago open houses were effective. That was until the internet came along and allowed everyone to search for homes from the privacy of their living room.
Today an open house is nothing more than a real estate agents opportunity to prospect for new business.
Shaking hands with potential home sellers down the street or even a buyer who can only afford a home for $100,000 less than the asking price are what real estate agents do these days.
Rarely ever does an open house become the "reason" why a home sells. Serious buyers schedule showings with their Realtor. Kind of a simple thought process right?
Yet so many real estate agents promote open houses as a regular part of their marketing. Unfortunately, some Realtors don't know any other way of getting potential business.
There is also a significant portion of agents who don't have the backbone to tell a seller than an open house is completely unnecessary to sell their home. They fear if they say no someone else will do it.
Great real estate agents think differently - the educate their clients on what is important. In his article over at Planet Info Wars, Kevin Vitali does a great job explaining the open house conundrum.
What real estate agents do when they promote open houses is create a false sense of hope for home sellers. Quite often the agents manning an open house every weekend are saddled with an overpriced property and terrible marketing.
The next time a real estate agent suggests you need to do an open house - think twice about opening your home up to strangers!
Scoop.it!
See the top questions to ask a listing agent at an open house to find out more about the property and the sellers circumstances.
Bill Gassett's insight:
As a buyer when you visit an open house it is important to get the most out of your time spent there. Walking through unfettered without your own agent gives you the opportunity to view the property at your own leisure.
During the visit to the open house it is likely you could run into the listing agent. This is a great opportunity to ask questions you may otherwise not get answered directly.
In the article you will see the best questions to ask a listing agent at an open house. These questions could not only help you determine right away if this is the right home for you but also whether you will enjoy the area as well.
The listing agent may know a lot more about the property than your own buyers agent. While your agent can certainly get the questions answered at a later point in time the listing agent probably will know many of the answers on the spot.
Trying to get a good handle on the sellers current situation is always a good idea. Does it seem like they are really motivated to sell? This could help when it comes time to negotiate.
You are going to see ten important questions to ask the listing agent during your visit. There are also some very important additional questions mentioned that can help determine if there were any of the major problems associated with real estate transactions.
Take a look and if you find the article helpful please scoop it or share socially.
Amanda Groover's curator insight,
March 31, 2016 3:55 PM
As a buyer when you visit an open house it is important to get the most out of your time spent there. Walking through unfettered without your own agent gives you the opportunity to view the property at your own leisure.
During the visit to the open house it is likely you could run into the listing agent. This is a great opportunity to ask questions you may otherwise not get answered directly.
In the article you will see the best questions to ask a listing agent at an open house. These questions could not only help you determine right away if this is the right home for you but also whether you will enjoy the area as well.
The listing agent may know a lot more about the property than your own buyers agent. While your agent can certainly get the questions answered at a later point in time the listing agent probably will know many of the answers on the spot.
Trying to get a good handle on the sellers current situation is always a good idea. Does it seem like they are really motivated to sell? This could help when it comes time to negotiate.
You are going to see ten important questions to ask the listing agent during your visit. There are also some very important additional questions mentioned that can help determine if there were any of the major problems associated with real estate transactions.
Take a look and if you find the article helpful please scoop it or share socially.
Bill Gassett's comment,
April 1, 2016 7:57 AM
Thanks for the Scoop Amanda. In order for your content curation to be valuable however it is always a good idea why you find the content useful and not just copy the original posters description.
Scoop.it!
Continuing to pull back the curtain on sketchy real estate practices, The Destroyer of the Real Estate Fortress of Suckitude tackles open houses.
Bill Gassett's insight:
Is an a real estate open house a sketchy real estate practice? To answer that question you need to first understand whether a real estate agent is explaining the pro's and cons of an open house. In my professional opinion having been a Realtor for the past twenty eight plus years, I can tell you with certainty that most agents don't! You see open houses are one of the top forms of prospecting for new clients. Rarely does an open house result in the sale of the home being held open. Do most Realtors explain this? Of course they don't! They want to make sure the prospect train is kept rolling. Do real estate agents explain that there is not qualifying anyone who enters the home? Do they know any Tom, Dick or Harry can come in whether they are qualified or not? If you are considering selling a home I hope you are listening. Open houses benefit real estate agents NOT home owners! Real buyers always schedule showings to see homes they are interested in viewing. Do you think when you are spending hundreds of thousands of dollars someone who is serious will say to themselves "boy I hope those agents are having an open house this weekend because if not I am no longer interested". Absolutely ridiculous! This is one of the biggest myths that real estate agents just love to kick around. Stop the insanity! You don't ever need an open house to sell your home. Price your home correctly and hire a top Realtor and you will be all set. In fact withing a few months you will be sitting at a closing table smiling!
Scoop.it!
Why Real Estate public open houses are popular but not that effective as a marketing activity. Why A Realtor gains more benefits than a home seller.
Bill Gassett's insight:
The real estate open house is something you see being done all across America typically on Sunday afternoons. Does an open house have any benefits? Who does the open house benefit more the seller or the Realtor? What are the national statistics on success rates from an open house? Does an open house present security risks? All these questions and more are answered in the article. See why a Real Estate open house is completely unnecessary to sell a home!
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One of the biggest misconceptions in real estate sales is that open houses are necessary to sell a home. Unfortunately, they are played up heavily by real estate agents who fool the general public into believing they are worthwhile.
Here is the truth: open houses benefit real estate agents NOT homeowners!
They are one of the best ways a real estate agent can meet people and potentially secure future business.
A real buyer on the other hand will always schedule a showing with an agent when they are serious about viewing a home.
What many sellers don't realize is that open houses can be a magnet for crime. They are the perfect way for people to steal the sellers belongings. It happens all the time.
Of course, lots of unprofessional agents never make their clients aware that this happens.
So when a client asks me if an open house works my answer is always the same - they can work great for a real estate agent. For a seller not so much.
The same serious buyers who come to the open house would have scheduled a showing. So instead of just having a vetted home buyer coming through their property they have anybody that feels like it.
Most real estate agents don't explain this and some sellers never give it a second thought. Why would they? They see a bunch of cars and front of a home and think to themselves this must be worth it.
Do yourself a favor and visit the link above that talks about why open houses don't work.
If you enjoy the article, give it a share.