Open houses good or bad - Home selling tips  

The question is do open houses really sell homes?  Yes but only a small percentage of Metro Detroit homes sell through an open house.  Internet has changed advertising.  So many buyers can see and eliminate homes without just running around to an open house.

Open houses are for lookers.  It is somebody that is driving through the neighborhood.  Now in the 2010's buyers can put in their criteria and come up with homes that meets their needs.  When you walk into an open house you know nothing about that home until you get inside.

Good:  Approximately 2% of all homes in 2006 sold were from an open house.   I think that number has gone way down  But it is better then none and is another way of advertising

Bad: I have held open houses and not a single person has walked through.  Over and over in my office I hear of very few people coming to an open house.  So why waste time and inconvenience a seller to let 1 or 2 people come through who may be just lookers or may not be qualified to get a mortgage.

Bad:  It is not good to hold an open house if:

• There is too much inventory to pull in buyers driving through the area.
• All the homes in the neighborhood look the same or have the same layout.
• Inclement weather discourages venturing outside and can create a mess inside the home.
• Home doesn't show well; too messy, too outdated, smelly or cramped.
• Off the beaten path of traffic. Condominium or home in the center of a complex or subdivision that is hard to find.
•  It is a holiday weekend
  
  Good:  But many times homes are sold by networking.  Sure less than 2% buy from an open house.  But that neighbor may tell a friend, relative, or co-worker how nice your house is.  It possibly get sold that way. 

Bad:  Allows all your nosy neighbors and nosy relatives to come and poke through your house

Bad:  The lookers may be thieves looking for easy things to steal

There are more bads than good about open houses.  My thought is that a real serious buyer is looking on line or working with a realtor to find a home they want.  Open houses are for people that may be lookers, or not truly serious yet in buying.  Yes there is a small chance that they may fall in love with your home and buy it.  But it is slim.

Many realtors use open houses as a tool to get buyers.  A good realtor will not have time to waste on holding an open house.  It makes about as much sense as placing an ad in the Sunday paper.  It used to work but in today's technology age it doesn't.  This is just my opinion but, I do hold open houses for my seller clients if they request it.

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