| Open houses help real estate agents and investors | | | | - Agents also pick up new listings at open houses. |
| more than they help home sellers. | | | | Should you hold an open house to sell your home? |
| In 2202, a survey by the Real Estate Center at Texas | | | | Not many homes actually get sold because of an |
| A & M University found that private open houses | | | | open house. You get a lot of looky-lou's and unqualified |
| for other agents were more effective than public open | | | | buyers. Sometimes, thieves look for easy targets by |
| houses. The agents surveyed thought public open | | | | visiting open houses. However, if you list your home, |
| houses troublesome, dangerous, and generally | | | | your agent should hold a private open house for other |
| ineffective except for agents who needed to build a | | | | agents to preview your property. |
| client base. The survey said "Although open houses | | | | Should real estate investors stage an open house? |
| are popular with sellers, they appear to be losing their | | | | If open houses lead to 7 percent of all home sales, real |
| appeal among agents. Sellers see the open house as | | | | estate investors should consider an open house. |
| an indication the agent is actively promoting the listing. | | | | Stage an open house when you finish remodeling a |
| Agents know, however, the odds are long that an | | | | fixer and invite all the neighbors. Often, neighbors know |
| open house will produce a buyer." | | | | a friend or family member looking for a house. |
| A more recent survey conducted by The National | | | | Make the open house an event and tell the neighbors |
| Association of Realtors in 2005 found that open | | | | to bring anyone looking for a new home. Stage the |
| houses led to only 7 percent of all home sales. In their | | | | house with extra flowers and essential oil scents, play |
| profile of Home Buyers and Sellers, the NAR, reported | | | | music, serve refreshments, and have your loan officer |
| that 42% of home buyers found open houses to be | | | | on hand to answer financing questions. |
| "Very Useful" as an information source. In fact, 55 | | | | To do this effectively, you need help. Ask friends or |
| percent of home buyers do look at open houses to | | | | family to actively pick up after people and run a |
| gather information. However, of the nine categories | | | | Swiffer around the floors. Request that home |
| listed where buyers first learned about the home they | | | | shoppers put on hospital booties to help keep the |
| purchased, open houses was not even mentioned. | | | | floors clean. Plus, people like the idea that you're picky |
| Findings include: | | | | about keeping the house immaculate. |
| - Most people attending open houses are not serious | | | | Even with all this work, the best outcome for you is |
| buyers. | | | | meeting the neighbors in your target area and finding |
| - Most open houses are held merely to appease | | | | people who want to SELL their homes. |
| sellers. | | | | Most houses sell on MLS. This is because agents are |
| - Three out of four agents think open houses are | | | | working with qualified buyers and watch the new |
| effective in interesting buyers in homes other that than | | | | listings. Agents like to show properties that are staged |
| the one being shown. | | | | to sell. |