Open Houses have been a tradition in real estate and continue to be popular even if they are not necessary, don’t work and pose a risk.
Prior to the computer era, real estate agents used Open Houses to showcase sellers’ homes. Technology has entirely changed the way properties are marketed, and our website provides considerable information about homes for sale and rent, our staff and the area.
Primarily, real estate agents hold Open Houses for the perceived benefit of the seller. There is still the misconception among agents and sellers that an Open House represents a viable marketing tool. Most serious buyers now search the internet for possible homes and then connect with a real estate agent they have found through a website.
Almost anyone, except really serious buyers, goes to Open Houses. Generally, first on the list are neighbours. Real estate agents rarely consider the dangers to themselves and the seller until something bad happens or an item goes missing.
The most effective and efficient procedure for the buyer to see a home is to first meet the agent at the office. This enables the agent to do some screening to ensure that the individual is a serious buyer and is qualified to purchase in a specific price range; to discuss the needs and wants of the buyer; to incorporate additional homes that may be of interest and then, to make appointments for viewing of homes.
Open Houses are ineffective marketing tools and should be discontinued. The risks far outweigh the benefits for both the seller and the real estate agent.