People go to open houses for various reasons. Many are curiosity seekers who may be looking for decorating ideas or neighbors who have not been in the home since it was last on the market years ago. Some are just checking out prices in the neighborhood.
Many sellers are aware of that fact and feel that open houses only benefit the agent who may gain some prospects for future business so the sellers feel open houses are a waste of time. There are however areas and circumstances where an open house may be beneficial.
One circumstance is when there are not enough homes on the market to satisfy the demand for that area. An open house can stimulate activity for the area, especially when the home is new on the market.
Open houses were a viable marketing tool during the frantic sellers market of a few years ago. Some listing agents would manage to hold off showings till they had the opportunity to hold an open house in which case anxious buyers would most certainly attend.
In most areas of Minnesota real estate those frantic seller market days are long over but another phenomenon has become more prevalent. Most buyers today explore the market on the internet first. Many of these buyers relish the anonymity provided by the internet and are reluctant to contact an agent until they are fully ready to begin a search in earnest. Rather than contact an agent, if there is a property that they are interested in they will wait till there is an open house so they can attend the open house and have limited engagement with a real estate agent.
The home’s internet exposure therefore is very important. Having flattering wide angle photos and virtual tours with panoramic images can draw special attention to the listing. The listings on the internet have a primary photo. If there is a special feature of the property it is advisable to have the primary photo of the property illustrate that feature rather than necessarily using a photo of the front of the property.
Having an open house often however is less than advisable. This can send the wrong message. It can imply that the sellers are desperate, that the price may be too high or that the property has a defect.
In conclusion; open houses can be beneficial under the correct circumstances so as a seller, don’t rule them out.
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