Statics show that homes not held open will not sell at an open house. That's right, don't hold it open and it won't sell at an open house. But the real question is IF it is held open, will the open house bring the buyer? And that is not quite so easy to answer.
I just held a house in Noblesville, IN open for two hours on Sunday. It looked great! The home owners cleaned, baked cookies, put fresh flowers in vases and made the home look like a model. We put an ad in the Indianapolis Star (color ad!), I did my homework on the competition, put on my best Sunday dress and was ready to answer any and every question a potential buyer may ask. And guess what.... no one came!
Based on that experience, I would say, no, the open house did not sell the home. But selling a home isn't about doing one thing. It takes a multiple pronged marketing approach and lots of hard work to get a house sold. Internet marketing, multiple color photos, print advertising, broker tours, signs in the yard, word of mouth, and yes, open houses, are all part of a complete marketing approach. It only takes ONE buyer and all buyers do not look for homes the same way.
It is reported that only 1-2% of homebuyers found their current home at an open house. That means an Open House worked for 100% of the sellers that sold their homes to those buyers. Not to mention the 'soft' buyer leads that advertising may genterate, meaning buyers that see the ad in the paper and go on line to get more information, or neighbors that tell a friend about the house down the street that they saw last Sunday at an open house.
So do Open Houses sell homes? The answer is yes. But the reality is that Open Houses are not the most effective option for a seller. However, if your agent is willing to hold your home open, then why not do it? If you say no, you may have a missed opportunity. If you say yes, you may have a buyer!
