Open House is a Scam
(post by BT) What a joke… sellers DON’T benefit from open houses. That is straight-up marketing for Realtors ONLY. I’ve held open houses, and who comes? The nosy neighbors, wondering what’s inside your house and comparing it with their house, dying to gossip about this crap with other neighbors. First the listing agent “registers” visitors, next thing you know he is telling your neighbors, “you should list with me, I’ll sell your house, too!” Let me tell you a very old broker “secret” - open houses are to get listings, not to sell them. Hello! Sure, there are some (very few) houses that sell through open houses but such a small percentage, it’s not even worth the time. Unless you are selling pre-construction luxury condo, open house is probably NOT going to sell your property.
The idea of an open house alone annoys me. Like your property is a yard sale! When a house is on the market, we pre-screen all potential buyers before they show up at your doorstep. But “open house” means that anyone off the street can just walk in and browse your house.
Next time your agent suggests an open house, ask him whom this is benefiting, “me or you?”
Comment by Sarah on 22 October 2008:
i’m a realtor and used open house successfully to sell and rent my properties. this is not true. maybe where you are from it does not work, but in NJ we hold open house and get great serious people.