Do Open Houses Work?

This is a common question from both sellers and real estate agents - and the short answer is yes. According to the Zillow Group consumer Housing Trends Report 2018 72% of sellers in urban areas, 63% of sellers in suburban areas hold open houses.

Now the new analysis in 2023 show a different impact of Open Houses on sales. The National Association of Realtors via Investopedia, report less buyers are attending open houses.

The internet has changed home buying and selling. The Pew Research Center reports that nine in ten Americans use the internet. According to that research 50% of buyers now find their home online.

The real estate agent does benefit from an open house. During an open house, the agent can make valuable contacts and will follow up to hopefully get a contract on the home opened. BUT...things are different an a real estate agent today must feel comfortable with the technology to get information to the buyer in the marketing arena today's buyers desire...the internet.

360 Degree Virtual Tours are very important! I personally have invested in the equipment and software to give buyers the opportunity to walk through a home while sitting at their computer, or notebook, even their phone. Another feature is if they want direct contact with me as the agent while they are walking through the home, I can arrange for that as well, with a simple email to them. We then walk through the home together and we can communicate from room to room.

However, I still think the open house marketing concept for our rural market is beneficial and will still provide that marketing tool to my seller. The traditional open house gives the seller and idea of interest the home may have and they will gather comments about the home that can help them and their real estate agent on tips small improvements that a seller can make.

Bottom line, in today's world there has to be technology marketing to get to the Gen Zer's and millennials which are the largest generation buying homes today. So an agent can't just rely on the traditional open house!