Does having an open house help sell your home? Do open houses work? In this video, I give my opinion on open houses and how they can be both beneficial and non-beneficial for sellers.
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Do open houses sell homes?
This is one of those topics I feel like can go either way. I’m a firm believer that exposure drives demand and demand drives price so the more exposure you get on your home, the more likely you are to get the price you want. With that said, I do believe open houses are critical the first few weeks of listing a home for sale but I can’t say that I believe you need to do open houses every weekend thereafter.
Are open houses useful?
Yes, open houses are useful as they give buyers an opportunity to view the home in person versus just looking at photos online. With that said, I think open houses are most useful when the home just comes to the market as that is when the most eyes will be on your home. After the first few weeks, I feel like you can dial back the open houses and approach the home from more of a scheduling basis.
What percentage of homes sell from an open house?
In my career, I have sold homes from open houses but I have also had open houses where I sat for multiple hours on multiple occasions twiddling my thumbs. The buyers who have purchased my homes from open houses are buyers that were planning on seeing the home because they found it online, they didn’t just stumble into the home without any knowledge and then wanted to make an offer. They came with the intent to see if the home was what they thought it would be.
It’s hard to say an exact percentage but I would say that most buyers that are buying from open houses are just as likely to buy that same home if they had to schedule an appointment to view it. The open house isn’t what is selling the home.
Are you considering selling your home? Are you wondering are open houses a good idea? If so, please comment below or contact me directly.
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