Holly generally I am with you but, today I did an open house at one of my properties simply because I thought it was ripe for one and there was one across the street at a community that comps to mine.  My unit is a much better value so we will see.  Got quite a bit of traffic and most of it was clients with agents.  I expect at least one if not two offers so I will let you know what happens.

Labor Day weekend is almost as bad as an NFL play-off Sunday - people are not looking for houses.  The weather (although unpredictable for advertising)plays another major factor.  I also think the house has to be midium priced and in a well traveled area.  Better luck next time.

Holly~ I personally feel like they are not worth the time unless they are in a very visible area and others are open in the same area at about the same time.  I feel that most buyers if they are truly interested will schedule a private showing. Hope you get your points ....

Larry good for you. Perhaps it was the area these two were in but I was really surprised that not one agent came by. Good luck to you!

I do 6 open houses every single weekend. I had people come to my houses on saturday. I did not have them sunday but normally I would. They do work. Its proven effective in our area.

Holly,  The one thing I don't understand is why are Open Houses held on Sundays?  People are out on Saturday too and it is cheaper to advertise in the paper on Saturday.  I think Realtors got hooked into Sundays and don't know they can change it.  Why not Saturdays or evenings?  I would say people are to busy with church and family stuff to go looking for houses on Sunday.  So, I think if you change open house days it might be a more benificial promotion. 

I don't understand why people still spend so much money, time, and energy in open houses when the stats show the buyers are online.  And when online, they're contacting either an agent about a house, or a mortgage person about a pre-approval in which the mortgage person then hooks them up with an agent.  I don't know the current number, but the last I saw, only 2% of homes are sold through open houses.  Don't you want to market to the other 98%??

Open houses for me are hit and miss.  I have more or less stopped doing them in most neighborhoods because they are not productive.  I have started taking Sundays off, which I used to spend at opens.  I just did my first open house yesterday in over 5 months...it was a good one. 

Donna is correct, although the numbers are worse than she thinks. Less than 1% of homes are sold through open house activity.

I look at it as a Karmic Deposit, The universe knows your working and will deliver business to you elsewhere if not at the open house

A long time ago in our market, I decided open houses were not worth the $ and effort.  They just are not that well attended as best I can determine.  A recent open house with another agent confirmed my opinion, it is not the best use of your time or money. 

I have been doing open houses but not whole-heartedly.  I recently was in on a conference call where the topic was open houses and how to make them successful and I can honestly say I look at them differently now.  Kristin

I used to hate open houses--until I got a call from a lady who had come to an open house I had six, yes 6, years ago--she wanted to sell her home!  I listed, and closed escrow in two weeks!  Short stroy---an investor purchase all cash!  It was on the MLS for 12 hours! and there were three other similar offers!

In my 21 years of being a Realtor--only once did I sell the home I was having an open house--and that's because I called the person to come see the home--not from a drive by!

Open houses are to promote yourself--it should be part of your marketing plan!

But Kristin - less than 1% of all buyers find their home through open house activity. So how exactly is this the best use of your time? Unless you are using your sellers to gain you more business which in my opinion is unethical unless you tell them that's why you are doing them.

Holiday weekends are usually hit and miss here.  I'm not a big Open House person as I just don't see the results. 

Does someone here really think its always about selling a house that we have them? It works as a marketing strategy and creates word of mouth and can have an indirect effect on selling the home. It also lets you meet the BUYERS who are out at open houses who dont have an agent. You would be crazy not to do them. I have run into dozens of people with no agent just this summer. More like 50+. Converting them all is where I am learning and is probably impossible to get them all. BUT I would never have met a single one if I wasnt out there every single weekend with the house open and me waiting there.

I wrote 6 blogs while at my first one. What do I care if its slow? I bring my work and I remain focused. I bring several books and all the trade magazines so I catch up on my reading.

Or you could just sit at home and not make money so if you live in my town I urge you to take as many weekends off as possible because I can tell when we are the only company doing open houses because they all funnel to my opens!

You can also cross market homes. I had 3 listings in a general area all slightly different prices. I was driving them to the other 2 houses if that one wasnt quite right but they liked that neighborhood. Its a great strategy. Plus you sound like you know whats available.

I would never spend all that money promoting an open house.  I ask every person who comes through  my open houses and 99% say from the signs.  So I quit advertising them.  And, why feed the people - they come to look at a house.  Feeding them is not going to make them buy a house.

I do open house 3 times a month off season:  Saturday or Sunday.  In our tourist season you can do them any day.

I keep them simple and put out a lot of signs. 

Edie

I hate and despise open houses to the core.  I've done one in the last probably five years.  There is so much better use of your time.  Maybe go door knocking on fsbos as a for instance.  But active activity is always better than passive.  Plus, think of all the money and energy you put into it and all the preparation and clean up time for no results.

I never plan on a buyer for that home coming in; I look at an open house as an opportunity to talk to 20 neighbors - It's Prospecting Time.  I never do one without a hostess either.  I use the time for marketing and calling prospects and past clients. It makes the time fly by. 

The NAR Stats show open house sales are up - 8%!  I sold 1 earlier this year on an open and they were the only ones who came in that weekend; They were friends of another homeowner in the sub I had met!  So they still work. I spend time posting the open house online; Realtor.com, the 2 MLS's, my website, our offices, and I add it to the websites I have the listings posted.  (When I get un-solicited e-flyers, I delete them.  If I have a buyer that is looking for that kind of home, I will already have the house on the list.)  Personal invitations are mailed out on Wednesdays to the neighbors and I knock on doors an hour before the openhouse starts to the 20 neighbors I invited. 

I hope you get the points!  Good Luck.

Holly - Open House attendance has dropped horribly in my market since gas prices rose.  I'm lucky to get one or two people through, regardless of advertising and directional signs.  I guess a lot of it depends on your area and price range.  By the way, congrats on 30k points. :)

I'm rethinking open houses as well.  I have two coming up in mid September and the two that I did in August produced nothing, even after the email blasts, I didn't do neighbors or much signage.

I am hoping for different results this time around.  I know I will approach neighbors in nearby communities and do more for signage. 

 I really think that Sundays are better days for Open Houses or early Saturday morning when people are on the way out to run errands. 

I know we're just trying to figure out what works. But when I worked for a builder, Saturdays were usually pretty dull unless we were giving away something.  Sundays were our better days, especially around 11am-2pm.

Holly I feel that open houses are a complete waste of time.  I've never gotten a buyer from an open house.  I rarely get a lead.  I get better quality leads from my online marketing.   I would stop doing them all together but after all I've always done them on Sundays.  From reading over the posts here it looks like Saturday is the day to do open houses.  I never thought about that.  Happy 30k

If the home is in STAGED condition , ,advertised  open houses attract a lot of potential b uyers!

Holly, when I first got in to real estate almost 12 years ago I did open houses every Sunday.  I did not have listings so would do them for agents that did; so I could meet buyers.  What I realized was that the open houses were great for me as I did meet buyers but I almost felt like I was taking advantage of the sellers.  The last few years I have almost completely quit doing open houses and instead I spend my time marketing on the web for my buyers.  It is a much better use of my time and I don't feel guilty about kicking a seller out of their home.

I did have one seller that talked me into having an open house last year and it made my resolve stronger NOT TO DO THEM!!! 

I am not seeing th point to open house's, they seem to be less and less where i am at.  I get more play off of the internet. 

This is too cool, I was hoping someone else besides me was holding an open house this weekend. I hold an open house pretty much every weekend with very little luck but I'm like Shane I do catch up on my reading and what not.

But I decided to be really weird this weekend with the hurricane approaching, labor day on the gulf, so I decided to do a 24 hour open house that right from 5 pm on Friday to 5 pm on Saturday. I only had three potential buyers and they came on Saturday between 11 and 3, But I had at last count 31 agents sign in, yes they only came to see how crazy I was and some even came after the bars closed but you know what that is 31 agents that will probably remember the house and who knows maybe even sell it.

My area must be weird. Open houses are the key. if something is not working for you then by all means adapt. but here it is a great way to work things.

I dont do anything fancy. its just me unlock the door and be there

I guess the same could be said of home buyers. Have they faded to nothingness?

Hi Holly,

I just took a quick look at the numbers.  There are many houses being sold in Greenville.  In your market center, what are the top producers doing?  My guess is that they're using the internet to capture buyers.

Respectfully,

Bruce

P.S.  Congrats on hitting 30K points!

Even being a lender I am a fan of sitting open houses.  I will sit them with a Realtor or for a Realtor.  I find them very valuable.  Even if it's one buyer out of four open houses the pay is worth the investment

Ages ago open houses seemed to work -- but these days they are most times a waste it seems. We would rather spend our time doing something that is more beneficial -- just our 2 cents.

It depends on what you get done during your open house wait.  Those with laptops(simcard), a phone(w/internet), and an assistant helping from another location can get just as much done as if they were in the office. Furthermore, Open Houses give you exposure, even if just from looky-loos. So be productive during those 2+ hours of holding an open house.

Holly - I am not much for open houses myself, but sometimes we have to do what we have to do. These days clients aren't going to open houses as much, but it will come back. As for a Sunday or Labor Day weekend, Ouch! I worked 12 hours per day Friday, Saturday, Sunday and maybe Monday so you have an idea what I think about it. It's OK! I hope you made your 30K!

Hi Holly,

Waste of time and resources? I vote "YES!"

Take Care,

David

June 30 I held an open house at which I had 1 family come in that bought 3 homes that closed all on August 1.  I believe that while the consumer may find their information on the Internet, it gives them a jump start on driving around on their own and previewing areas - if there is someone at an open house, statistics also prove that the Realtor that makes first contact with the buyer is most likely to be the one to make the sale. 

I think that whether you view open houses as a waste of time or not depends on how you prepare for them. In my area (Rockland County, NY, 15 miles outside of NYC), open houses are really hit or miss.

I used to offer raffle prizes and serve food at my open houses, put balloons on my signs, etc. I've cut out the raffle prizes and balloons. I now serve cookies (I buy a frozen tub of Toll House) and small individual bottles of mineral water which can be saved if not used. So, I've cut down on the amount of money I spend per open house.

Most important, though, is to bring work to the Open House so that if it's slow, I can take advantage of the time to make phone calls. Sunday afternoons are a great time to catch people at home! Even if I don't get a single person at the Open House, I've taken advantage of the quiet time to get some real work done. This keeps me from being resentful of time spent away from family.

This spring, I had a couple walk in to an open house from my signs. I didn't know it, but they were shopping for a realtor. Although they didn't buy the house, I ended up getting the listing for their house and sold them a house -- totalling $1.35 million. Plus I picked up a couple buyer leads. Will I continue doing open houses? You bet!

Oh, and I will do Open Houses for other agents in my company if I don't have one to do for my own clients. You never know who you will meet...

Wow guys. I just plugged in from last night and was stunned to see the response to this blog. Sheila, you're in my town..open houses do not work very well here. Shane you're a great responder but even as much as we market..no go. For all the other questions, the house is lower end off major streets, staged. But I don't think this is the neighborhood to go knocking on doors. However it was advertiesed and I do look at it as marketing EXCEPT, I'm a buyers agent on a large team so my lead partner usually takes care of that for us. And I will say that with the exception of these, I"ve done scores of open houses from mid range to higher end. I've only had one sale off of that but it was a nice price point..the rest of the time it was a waste of time for me. It will definitely not happen on a Sunday again..that's my promise to my family and God!

Thanks AR guys and gals! Youre  the best!

Oh and Bruce..I've got tons of buyers..they just all have to sell before they buy, but I do have some lined up..just not for these homes. Thanks!

Holly,

Open Houses only please the seller...they think you are working.  We have stopped doing them as well.

Dick Beals

Generally, I'm not a fan of open houses but there is one neighborhood that I usually get a listing if I do the open houses.  If I had my way, I'd never to another one.

Open houses are always hit or miss; I get buyers, who buy a different house, or I get lookers. Gary Kellers new book titled Shift shows all of the things that you should do to maximize your returns on the open house investment. I am going to experiment with it, I'll let you all know how it works out. :)

Hi,

I do have open houses, but I think they are more for the realtor than the seller because you have the chance to reach buyers. I have never sold an open house, but I have got buyers on other properties.

     Tinker

You know........ there are good days and bad ones with open houses. I like them ....but mainly it helps in meeting new buyer prospects. With the  power of the internet,  and  the gas shortage I see a greater decline in open houses in general.

 I absolutely think open houses are worth it and wrote about it in this post:

 The sign said "OPEN HOUSE" but I felt like I was entering a Used Car Lot!

I make it a comfortable setting and often connect with folks who are looking for homes in the targeted areas I work. I also make the best of meeting neighbors and that builds and adds to my presence. More than anything, it is about what a person hopes to accomplish! I use the time to catch up with my other work if few people show up and that's a bonus by itself.

I feel your pain, It can be a boring day at an open house when no one comes, bring a good book or magazine and do your time! I personally think they are a waste of time too! 

Open house I feel are done because the sellers want them. I held many opne houses and no one showed up. That being said however, I have picked up clients because of them but as you would expect they wanted something else.

Open house I feel are done because the sellers want them. I held many opne houses and no one showed up. That being said however, I have picked up clients because of them but as you would expect they wanted something else.

Great job, I see you have made your 30K points plus a few extra!!!

Congrats on making your "points".  Generally Open Houses are for the Sellers.  I have gotten buyers from them, some listings and even sold the properties a "few" times.

When we were in Florida and touring Open Houses, [SWF] the agents for the most part said things were quiet, or we were the only ones that came that day, etc.  and they NEVER followes up.

Holly,

I've had days like yours. It's a real bummer to spend so much time preparing for an open house, putting up the signs and then just sitting there ... alone ... when there's so many other things to do.

But I bounce back and schedule another because 1) it's a way to meet people and talk real estate, 2) passersby see the signs and may follow them to the house, 3) it gives me a chance to market myself to the neighbors, and  4) buyer prospects who have seen the house online and want a closer look can come without feeling obligated. (They know about it because I posted the open house online.)

Realtors coming to my open houses are a plus, but my goal really is to give the listing greater exposure to the public and create future business for myself. With 834 homes for sale in the city, anything that draws attention to this house is worthwhile.

Oh, and I don't serve food. Bottles of water, nothing more. Sellers don't want crumbs on the carpet and melting chocolate - let's not even go there!

Have not sold a home because of an open house but have meet many nice people. Some were converted into listings, some into buyers but most visitors are just curious neighbors. Not effective for selling the property, alot of risk/liability for the agent and the homeowner because of the world we live in today. But open houses are demanded by sellers who are not aware of the importance of current marketing tools such as the internet.

Hi Holly,  I still do a ton of open houses and consider them the same as floor time of farming !  They produce business and many contacts for my date base.  For those who say buyers are searching online I also promote my open houses online and make them as findable as possible.  Good luck !

I think that you just picked a bad weekend.

I disagree with the coment above about the Super Bowl.  I have sold 2 homes on superbowl weekend  thru open houses.  I will be doing another one in 2009!

Holly,

I think they are a waste of time.  Sometimes you could get a buyer but you can also get a buyer everyday through a web site.  I do my best not to do them and explain why they are done.  Good luck!

Holly - I'm happy to help a fellow KW Rainer reach the 30K milestone! Open Houses - I don't do them.  My Buyers Agents do - very occasionally.

Holly- I share your pain! I did an Open House yesterday (Sunday of Labor Day weekend) and struck out! People are thinking of other things, but there is always a chance of landing a buyer... "You have to have a hook in the water to catch a fish!"

Hang in there!  Dave Miles

Mostly, I don't do open houses.  The house has to be priced really well, staged well and in a desirable area.  Otherwise, you spend the day alone. 

I also haven't found a way toreally connect with buyers.  In my area, most buyers who are looking at open houses have already signed up with another agent so it's hard to get buyers even. 

Good luck!

I believe in general they are a BIG waste of time unless you are looking for another buyer client, in this market we are rarely getting enough people driving around looking because they don't want to waste their gas.  Same with Agents looking if I am scheduling homes I'm going to show that home in my driving schedule to save gas, not an 0pen house time frame.

Holly,

Did you get the 30,000 points?

I think done correctly they ARE worth it.

Jim

From reading everyones comments I guess the true answer is that it depends on the individual realtor, the problem I see is that sellers, expect them.

Good question. It would depend on what you are trying to accomplish.

Open houses in my opinion are a great way to measure the market and get valuable insight to share with the seller. It is up to the agent to find out what the market thinks of the condition and price of the home. If you don't find out by asking questions then I would agree they are a waste of time.

Holly, IMHO, Opens do work, to pick up new buyers. I recently relocated to a new area and that is how I started over (and Active Rain of course:) I actually DID sell one high end home I was holding open, but that was a stroke of luck, I believe.  I've had great luck, truly. I don't feed buyers. I may pick up a bouquet of flowers, but never serve snacks...shame on me.  It could just be my area, but I have had luck. Hang in there!  I hope you get your points! :)

Hi Holly- I try and stop by one open house a week to meet the agent and talk about EXiT a bit.  I dont like to do the open houses and would rather spend time calling leads from my system.

In our area, holding an open house does not necessarily bring a buyer for it.  Very few real buyers even come through the open houses.  However, it is a good way to generate a future "Buyer Client."

So, most of our agents hold opens to generate more business.

Only do the open house if the Seller really wants you to (or you really enjoy doing them, which it sounds like you don't).

A price reduction would likely do more to get more buyers through the home.

Congrats on 30,000 points!

Oh yeah. And be sure the Sellers know the actual stats on how ineffective open houses are at Selling a home. Let them decide, but make sure they know the alternatives that might do more to sell their home.

And if you are bearing some of those costs, why not credit some of the money saved towards a staging plan or some professional photos? Certainly there can be some better solutions than making a bunch of food for nosy neighbors...

I'd have to say that it's definately not worth it.  I can't think of doing anything extra to drive traffic.  Despite the slow (if not terrible) weekend for open houses, I would spend the next effort on a price reduction.

Good luck,
Mike

With the right location and properly done, an Open House is a magnet of potential.

I can tell you one thing, the weather does not matter. Location does. Be on a street with enough traffic for visibility. If the house is deep in the neighborhood, I would not waste my time. The exception to that is if there are several other houses that will bring people by. You have to be in a trafficed area. For some reason, people do not like going out of their way for an open house.

Timing can make a difference as well. Do an open house during traffic hour sometime. Some people will stop just for a diversion or to see the crazy Realtor doing something different.

Hi, I wrote a post on tips to increase traffic a week or so ago....here it is in case its worth a read.

http://activerain.com/blogsview/664021/1-Ways-to-Increase

My take is that it is worth it; it shows the seller you are working for them, it shows the neighborhood you are doing as much as you can, and usually you will pick up a buyer.  I had someone tell me that I obviously knew the Township and a year later remembered me.  I sold his house and the other two next door over the last 18 months.  All because of an open house.  I've said this a few times too...yes I have days with no shows; just part of the process.  But, for so many reasons, I think it is worthwhile to do the open house.

Holly,

  It really depends what you've promised your clients.  In this market I don't think they're worth it at all, but if I told a client I would do it, then I would bring my laptop and use it as an opportunity to write a few blog posts.  One thing that you may want to do, since I see you're from a small SC town like me, is to try to schedule a tour of homes.  Get everyone in your company to schedule an open house on the same day, even offer it to agents from other companies and have them share the advertising costs.  Run some good ads and give it a whirl.  I think you'll find that it attracts more general buyers. I personally would wait until after the election to do this though.

Hi Holly! I don't bring food to the open houses that I do and I have great luck at open houses...usually get at least six people that show up. Well except for this Sunday over Labor Day...not one person came in. Though people did pop out of their cars and grab flyers and take off. :)

I think if they are done right they are very beneficial. Thanks!

I also do them on Saturdays, like you, Sunday is for God and family, no exceptions