Some home sellers view open houses as a right. If their agents balk at sitting in the living room for 2 or 3 hours on a nice day waiting for prospects to come through the door, they feel cheated.
Others see them as a necessary evil. Even though they have to clean, make beds, scour the bathroom and kitchen and get put out of their home , many seller believe it is imperative that agents hold their houses open so everyone can come traipsing through.
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But, according to the National Assn Realtors latest profile of buyers and sellers, only 7% of all buyers visited open houses as a first step in their search for a home. Most start on the internet.
That is not to say open houses do not work--they work for the agents to find buyers for other homes or for sellers of other homes
Personally, I have been in real estate for 38 years. I have sat on open houses almost every weekend for all that time. Only 4 times in all 38 years did I procure a buyer for the home on which I was holding an open house.
Because of the market conditions buyers no longer feel an urgency to buy NOW. There is no need for buyers to see homes on OUR timetable. They can view homes on line or with their agent on their schedule.
One positive reason to hold an open house is to get feedback from lookers, if there are any.
Things have changed in the time I have been in the business.
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