Do Open Houses Actually Sell Homes?

Virginia Beach Real Estate Podcast with Robbie McCarty

Should your agent hold open houses in order to sell your home? I’ll explore a few reasons why that may not be the best use of your agent’s time.

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If you are trying to sell your home, should your agent be doing open houses? The question isn’t whether or not open houses work—it’s whether or not they are a good use of your agent’s time.

According to the National Association of Realtors, less than 1% of homes sell via open house.

So, why do agents still bother with them? There are two reasons why your agent might have an open house:

1. They want to show you that they are doing something that looks like work.
2. The agent wants to get future business from the open house rather than sell your home.

If your home is in a lower price range, you should also know that buyers who look at open houses often end up buying a home close to 30% less than the price of that home.

Is it efficient for your agent to do open houses? Let’s say you hire someone to frame a house. Are you going to pay one carpenter more because they will use a hammer instead of a nail gun? Of course not.

Less than 1% of homes sell via open house.

Everything works sometimes, so every now and then an open house will sell a home. That said, your agent really shouldn’t be wasting your time on open houses. They are not going to find a quality buyer who can afford your house that way.

If you have any other questions about open houses or about selling your home, give me a call or send me an email. I would be happy to help you!