Only Newspapers benefit from Open Houses...

Industry statistics reveal that Traditional Open Houses are not very effective at selling homes. In fact, less than 1% of homes are sold as a result of a traditional open house. They’re a huge waste of time listing agent's time and effort and they’re a shameful waste of the client’s time and effort as well.

Despite this, thousands of agents waste an average of $150-$300 (and 3-4 hours of their time) every single week advertising traditional open houses. This is like throwing money out an open window 99% of the time. In the vast majority of cases, traditional Open Houses don’t benefit the seller. They don’t benefit the buyer. They don’t benefit the listing agent.

In fact, the only one who benefits is the local paper who keeps pocketing wasted advertising dollars.

What should we do instead? Tour of homes perhaps?



Reference: Billion Dollar Agent Craig Proctor - edited by Vanessa Franklin, Amerivest Realty.