I would definitely vote a YES on open Houses. Using all the ideas you already have with one addition. Have a Mortgage Lender there to pre-qualify the perspective hom buyers to save time for yourself and others. Let me know how it works. Cheers, Keith 

Great post Jim!  Wonderful reminder that one frequently gets out of something what one puts into it.

I never plan on selling the home I am holding open; I use the OH to introduce myself to the neighbors.  Although, I did sell a home in Late March from an open, a family already living in the sub referred them!  Use the time there to update your website, send out notes, etc.  I vote they are OK if properly used!

Jim,

If you hosting an open houses for another agent's listing do you take days on market into consideration, or is it all about the location?

Stephanie,

I do take D.O.M. into consideration, but it also must:

SHOW GREAT

GOOD LOCATION

AND PRICED RIGHT

Thanks,

Jim

Keith,

Great advice.

Thanks,

Jim

Lynda,

EXACTLY!!!!!!!!!!  Thanks for sharing.

Jim

Lorena,

Great ideas, and good job selling an open house.

Also, plan on selling them.

Jim

I VOTE:

Open Houses are great if done right

I'm not a big fan of open houses, although I still do them. I think the biggest benefit is to make sellers happy and even though I do a LOT to draw potentials in, I think in the end, it's a lot of running around and a lot of work to do that in most cases yeilds very little result and doesn't get you a lot of response for your effort. I find the biggest reason to do open houses is the things you do before hand.

EX- I've gotten listings from door knocking the neighborhood the week before my open house but I've never actually gotten a buyer to close on ANYHTING from an open house. I get a lot of neighbors or people who are already working with an agent.

Overall, because of the activities leading up to an open house, not the open house itself, I vote YAY, however, I think the actual open house is the least productive part of the process.

We do a major number of open houses at Weichert. If you prepare properly, you will get results. We normally hold opens on our own listings or put the extra ones on the board for new agents to host if we have too many. I have done a couple of blogs about open houses with surprising results.

Ray,

Weichert does a great job at opens, plus they understand it is a great way to keep a "pulse" of the market and activity.

Thanks for sharing

Hi Jim,

I've never asked the neighbours to come over and look at the property.  What an ingenious idea.  They could give a good analysis of the property as is.  I also like the registration cards, are they individual cards or one signup sheet where everyone writes all of their info, like we have here?  Very good ideas to think about, since I'm new and I'm doing another "Open House" for another REALTOR this coming weekend and next.  By the way, I do like doing "Open Houses" since I meet new people that way.  I'm new to Canada.

                       ;>)

Ben,

Super comments. Thanks for voting.

Jim

Ann-Marie,

Welcome to the real estate industry. Love your attitude it will serve you well.

Good luck,

Jim

I vote yes for open houses.

I am finding more and more buyers starting coming to open houses after they began their search on the Internet. Many have not chosen a realty to work with yet so their are opportunities to pick up buyers. The other opportunities I am finding is that alot of times the buyers agents has not shown them the property. I have sold listings that way. Many agents stick very strictly to the parameters the buyers give them or they don't show it for some reason but the buyers are finding the properties online.

Most of my traffic to my open houses is driven by online advertising. In addition to the websites my company posts open houses on, more and more websites like Zillow and Trulia allow you to enter open houses.  Even in high traffic areas, the people coming through already have previewed the properties online so they are quality leads.

Andrea,

Thanks for sharing. Alot of "yes" votes.

Good luck,

Jim

Yes to an oen house. I want my realtor to do anything and everything they can to sell my home

Travis,

Thanks for your input, another mortgage pro reminded me to have a loan officer there too.

Good luck,

Jim

Add my vote to the "yes" column

Jim, all excellent 12 points, 13 if you want to add the mortgage broker.  If all of the above are adhered to and If the house is occupied I would also suggest a "partner" for security reasons.  It is hard to keep track of the visitors especially if it is a two story home and you have a lot of traffic.   Also an Open House Team gives the seller a better degree of comfort.  Just a suggestion.

Wow, there are some really awesome comments. Guess I might have to start holding some "open houses"

Looks like the vast majority LIKE open houses.

Jim,

Great photo work to illustrate your point. The open house is as successful as the property and the person holding it.

Steve

Steve U r so right

Great post really enjoyed they pictures And the discussion

Great post really enjoyed they pictures And the discussion

Do you advertise your open houses

Jim, I have to say that Open houses for me do depend on the location and the house.  I will do one that I think will be productive to the seller and for me as well.  I don't do them all of the time, but when I do, I pull out all of the stops.

Jim, good, thoughtful post. Good questions? My answers to almost all of them: "it depends."  Sometimes yes, and sometimes no. ;-)

I don't like them

Jim, you and I both know our area. Open houses are a tough do here with the strict sign laws we have.

So, with that being said, unless ALL the criteria is met as you mentioned in your Blog, my vote is nay!

Interesting topic, everyone says do "open houses" yet I hear over and over again that they don't work. I'm confused.

Over the years open houses have been a MAJOR source of my business. It also helps me keep a pulse on where the market is trending. Try tracking activity at open houses and how closings follow 3-6 months later.

Open houses are a waste of time

Craig,

Thankfully I am not in Cary where the sign rules are very restrictive.

I do run into some signs being stolen during a weekend open house but I guess it is a cost of doing business.

Jim

Thanks for the recognition.

Happy selling to all of us,

Jim

Hi Jim... it depends what your purpose is in holding an open house.  If you are trying to sell the house that you are holding open I would have to vote no.  At Mega Camp last week we were told that fewer than 1% of homebuyers purchased a house that they saw at an open house... that doesn't mean it never happens, but the odds are clearly not in its favor.

Now, if you are holding a house open in an effort to pick up buyer clients that you might sell other properties to, then I would say perhaps, but it is probably still hit or miss. 

Hi Jim,

Well, I'm not a realtor, although I will be co-hosting two Open Houses with one in a few weeks, so I read your post with great interest!  As someone who has been 'on the other side' (that of the seller), I never realized that so much went into an Open House.  I figured that the realtor ran an ad in the local papers, showed up 10 minutes before the scheduled time and put out a few signs and perhaps a few balloons!  What you are suggesting, above, is so much more but makes perfect sense!

I have been enlightened!  Thank you!

Val

After years of doing opens and then not doing them at all, I have evolved into the attitude that Steve Shatsky conveyed above...it's all about what your objective?  I do selective opens houses.  They work for unique, well-priced properties that people need to be "inside" to appreciate.  A well written and advancely promoted open can attract multiple prospects so you create an air of excitement.  Also, if you "farm" the neighborhood it's a way to turn a "farm" into a warm market.  I never let my seller be the reason I do an open.  In today's world of internet, time and money spent developing internet promotions can be farther reaching and more productive use of time and money than a physical open house.  If you're going to do one, though, do it right!  Great reminder of what to do, Jim!

Ann,

Thanks for sharing.

Hi Jim you recently visited my blog and I thought I would stop by and visit your blog.

I like the thoughts/checklist of what to do to have a successful Open House.  Many agents I have worked with feel frustrated and I think it's because these things are not being done. I have also seen that when a house is relisted because EVERYONE has already seen the house including all the neighbors - lol - that unless a new buyer from outside the area who has never seen the house stops by sometimes the house will sit with very little traffic at an open house. 

I also advise realtors to not just rely on the signs and balloons - advertise it everywhere - there are sites that you can list open houses, your blog, your website, invite everyone as you mentioned - neighbors and agents, send out flyers - email your sphere of influence - maybe they know someone looking in the area, have giveaways and useful info to take away -  great points and I wish you much success at all your Open Houses. ~Anne Marie

Ann Marie,

Thanks freat points.

Jim,

This post has a well deserved gold star from the New Homes Sale Group....(sorry no extra points but thanks for posting there). 

Jim,

Congratulations on the gold star in the New Home Sales Group....my wife, moderator Julie Chapman, has a high level of expectations. 

Well said!  Am a big supporter of open houses.  Being face to face with potential buyers and sellers has got to be up at the top of the list for productive use of time.  The "complete" open house is also important, i.e. pre-work, the open itself, and the ever so important "follow-up"!

Conrad,

Thank you!

Jim

Well, I like open houses and I am doing two this weekend!  Appreciate the pointers!

Good reminders on the basics of success. Open Houses are exactly what you make them. You hit it on the head when you mentioned attitude.

Yes they work if they are conducted properly.

If you show up 5 minutes before the open house starts and put one sign in the front yard, don't expect a great success, just hope you get lucky.

I haven't sold a home from an open house but I have picked up prospects.

I would vote no as in my area only other Realtors show up.

Open Houses are worth it if I work at it.  Put out a lot of signs including one at the House several days before announcing the open house. Advertise on my website, realtor.com, and craigslist.  Invite the neighbors by walking the neighborhood and handing out 100 flyers surrounding the house.

I would vote yes her recently our broker has created a game of "who can guess the selling price" and traffic has increased by 125% the winner gets $100. if the can guess but the house has to sell. My brokers theory i sthat the people guessing will probably not buy it but they will tell others about the game and the house they went to. He has also created an auction style open house and that runs pretty good to.

Great comments.

Looks like alot of folks think they work.

Dear Jim,

Yes they do. I am doing one today in Travis Country West later today. You can see it on my blog www.ActiveRain.com/blogs/Austin_Realtor.com. Make it a great day!

Betina,

How did it go?

Jim