The Effectivness (?) Of Open Houses


The Effectivness (?) Of Open Houses
By Scott Rogers • May 4, 2008
I am having an open house today (May 4, 2008, 1:00-3:00) for one of the properties that I am marketing, a 5-bedroom, 3.5 bath colonial with 3,796 SF priced at $469,000, and located at 3064 Briarwood Court in Harrisonburg, VA. I have held several other open houses over the last few weeks, and will have another two weeks from now. So . . . how effective are open houses? I suppose it depends on how we define effective . . . Open houses do (unless nobody shows up) get people inside of homes who may not have viewed the home otherwise. The people who are coming through aren't always qualified to purchase the home they are viewing, and they don't always end up having interest in it, but one important step of a successful sale is to have people view the home for sale. Open houses don't necessarily sell homes. I don't have the exact figure at hand as I am currently writing, but the research shows that only a VERY small percentage of home buyers find the home that they purchase by attending an open house. Some Realtors see open houses as an opportunity to meet new buyer clients. I suppose that could happen from time to time, but certainly, that doesn't accomplish any of the original goals of the owner of the home. Here are some interesting stats to consider from several recent open houses: Property #1 - Prior to the open house, there had been 3 showings of the property. During the open house, 4 groups visited. Property #2 - Prior to the open house, there had been 7 showings of the property. During the open house, 4 groups visited. Property #3 - Prior to the open house, there had been 6 showings of the property. During the open house, 10 groups visited. Property #4 - Prior to the open house, there had been 2 showings of the property. During the open house, 2 groups visited. Property #5 - Prior to the open house, there had been 18 showings of the property. During the open house, 5 groups visited. For several of these homes, the open house generated more prospective buyers inside the home than had seen it to date. However, none of these properties have sold yet, so the open houses didn't accomplish that main goal of selling the house. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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