After 20 years of selling homes in Central Texas and hosting 38 open houses in a single year, I’ve met thousands of people. Odds are, I haven’t met you yet— most of the people reading this have never stepped foot into one of my listings. But if you’ve ever browsed real estate in Austin or beyond, there’s a strong chance our paths have crossed online, or through someone in my network. While I rely on a wide variety of referral channels, open houses remain a strong resource future clients.
Having taught hundreds of agents how to host an open house, the greatest insight I provide is setting realistic expectations for who walks through that door. Here is the inside scoop on who is actually visiting, and whether open houses are truly worth your time.
Who Actually Walks Through the Door?
Everyone who walks into an open house falls into two categories: they are either a Buyer or a Seller. However, they may not be a Buyer or a Seller today. They may be home shopping, dreaming, remodeling, killing time or all of the above. More often then not, the visitors are not buying today. They are most likely aren’t selling either. I am meeting and greeting for a future buy or sell.
Do I ever sell the actually home I’m holding open? The percentage of homes where I have actually meet the Buyer is relatively high. Agents used to ask me to hold open houses for them because my odds of meeting the Buyer tend to run higher than most. While I don’t claim to be a walking, talking St. Joseph statue; what I can do is identify when someone is falling in love right in front of me or “just looking”.
Some Buyers have already fallen in like over the internet. They just show up to the open house to put a ring on it. I watched that happen once as they got out of the car in front of a house. When you know, you know.
Why Your Neighbors Are My Best Billboards
Open houses are great for exposure. Yes, it is your neighbor’s opportunity to peek inside to see what you’ve done with the place. While a Seller might think this is nosy, the neighbors are my billboards. When you live somewhere and you love it – you want other people to love it too. Neighborhood pride coupled with an opportunity to pick your own neighbor, is great for a Seller (and the neighbor).
Why Do Buyers Attend If They Aren’t Ready to Buy?
Why do Buyers come in if they aren’t buying now? The process of buying a home is not fun. The fun part is looking at homes. Open houses make it easy for the dreamers and future buyers. Some visitors can be a very slow burn to actually buy. That is, if they buy at all.
Are open houses worth it?
For Sellers, yes and no. Ideally, I want Buyers for my listings to come with their agents for a private showing. If a Buyer is working with an agent, they most likely have the buying bug and know what they can afford. They can also take in the space and envision living there without the disruption of other groups milling about. They do give the home exposure within the neighborhood. The neighbors may not be moving, but may know someone who is.
For Buyers, honestly the answer is yes and no, as well. Your best tour is going to be a private one with your agent. If your agent is out of town, and a particular home is one of your favorites – then it may be worth it to go. Your agent can write an offer anywhere.
The Verdict
I sell houses to investors. I sell homes to people who want to build a life somewhere and make memories. At the end of the day, that typically doesn’t happen without seeing it in person.
Open houses can be a stepping stone in the buying and selling process.
For sellers, the guests are a box of chocolates, you never know what you’re gonna get but real estate is a numbers game. A different avenue for market exposure is just that.
For buyers, open houses can be the beginning of a long road ahead or the start of a great love story. When that love story happens and I’m there to watch it unfold, it is pure magic.