The Myth of the Open House

What if I told you that if I took a flyer of your house and put it up in the grocery store, it would sell your home less than 1% of the time? Would you care if I did it? Would you wonder why I wasn't going to the grocery store 2 or 3 times a month for 2 hours to put up a new flyer? Would they make a TV show on HGTV or TLC about it?

My guess is probably not and if the thrust of my presentation to you on how I could sell your home was based on something that works less than 1% of the time, you'd probably not hire me.

Yet I'll bet you wonder about open houses.

Now, you're talking to a guy whose first sale came from an open house but that was after holding it open a dozen times and during a frenzied market, the likes of which we probably won't see here for many years. By the way, that's the last one I sold that way. I can't remember the last time someone in my office said they sold one either.

I'm probably going to anger some for telling you all this but that's how it goes. Open Houses are for agents. Let's review.

Dick and Jane are looking for a home and have decided that it's time to go from the internet to the real world but they don't know any agents or are afraid of salespeople. They go see a nice house where Sally sales agent strikes up a conversation and before you know it, they share a laugh, find some common ground and Sally gets to sell them a house. Not your house but a house.

Dick and Jane seller don't know a Realtor so they go looking at open houses to see what agent impresses them the most. Johnny super agent has the best suit and most colorful flyers. He gets to sell Dick and Jane's house (more competition for you) and you're still waiting.

Dick and Jane crook love to case houses. Look, an open house. Now we can open a basement window when no one is looking or at least we can see how much copper is in it. I don't mean to scare you and I don't think this is prevalent but you must admit, there's no other time you'd just open your home to limited supervision. If several people are in the house at the same time, your agent only has one set of eyes.

My experience with Open Houses is you get 3 kinds of people. The Lookee Loo who does this as entertainment and to get decorating ideas, the nosey neighbor and the clueless first timer who is either unqualified or forgets about your place by the time they get representation.

Remember, the homes you see on TV are in only the best, most desirable markets and if you really watch Flip This House or other such shows, they often don't sell.

Is an Open House a slightly more effective tool than random luck...yes but statistically not a whole lot more. Remember, if someone is really interested in your home, they will make an appointment. This will not only cut down on the unwanted guests but you'll get a much clearer picture of how desirable you home really is.