Before our modern media arose, presenting an open house during the home sales process was the most common tool sellers used to showcase their property to potential buyers. Sellers would advertise their open house in the local paper and attempt to attract as many potential buyers as possible to come take a peek. Today’s question is: do open houses still work?

This question is often the subject of discussion among both real estate professionals and sellers alike! My opinion is that an open house still has its place in the real estate marketing toolbox but don’t give it too much weight! At the end of the day, when all is said and done, and the dust settles, “price vs. value” is what sells a house – period!

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The first reason why agents hold open houses is because they bring in more business. Think about it; the chances of someone walking in off the street, liking that particular property and buying it without looking at any others is pretty much zero, yet it does give agents the opportunity to offer their services and find that prospect a suitable home.

The second reason is that many sellers press the issue. It’s simple, if you need to do an open house to make the client feel better, you do it. Plus, there is always the benefit of picking up new business and the remote possibility of selling the house to a walk-in buyer, and double dip the commissions – not a bad deal altogether!

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The National Association of Realtors (NAR) noted that in 1995, a mere 2% of home buyers used the internet to shop for a house. Today, more than 77% of home buyers use the internet. However, only 3% to 7% of all listings get sold through an open house.

The ability of agents and sellers to showcase their listings online with multimedia enhancements such as limitless uploaded color photographs, flashy home tours, and links to YouTube videos makes open houses somewhat a thing of the past. Many agents consider them a waste of time and a security threat, and many sellers prefer to open their doors to serious buyers only.

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Purpose of an Open House

For a seller, the purpose of an open house is to showcase what they’ve got in the hope of convincing a buyer to buy. Prospective buyers have the opportunity to physically walk through the house and decide whether or not they want to make this property their new home.

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