Open houses are a thing of debate between real estate agents. Are they worth it or not? While some tend to brush these events to the sidelines, others are eager to gain exposure to their listings and believe open houses are the perfect way to do so. According to a National Association of REALTORS® 2013 Profile of Home Buyers and Sellers, 45 percent of buyers said they enjoy going to open houses to learn information during their home search. So nixing the idea of an open house can cut out exposure to those 45 percent of buyers who think they are beneficial.
Open houses provide real estate agents with the opportunity to get lots of eyes on their properties in a short amount of time. While the internet has made it incredibly simple to view floor plans, videos and high-definition photos of a property, there’s nothing quite like actually walking through the space. Buyers love open houses because it gives them an opportunity to gain information and speak with REALTORS® in an informal setting.
The NAR survey also found that one of the top buyer activities is during through neighborhoods, and having an open house sign, balloons and flags outside of home in their desired area can bring them into a property they potentially wouldn’t have seen otherwise.
In addition to those who find the listing on the internet, an open house gains the attention of pedestrians and drivers as well. And the more people who look at a listing, the quicker the property will sell. As an agent, the No. 1 goal is to make the seller happy and gain exposure, both of which can be achieved with an open house.