Open House Statistics – Hartford Courant

While a home buyer will frequently begin his search online based on budget, locations, bedrooms, and bathrooms, the next step for many homebuyers who may be thinking about buying is visiting an open house.

Open houses continue to be a prominent marketing tool for today’s home seller.

Open houses not only give your home some much needed visibility, they also bring buyers directly to you. Most buyers (92 percent) said open houses were at least “somewhat useful,” while only 8 percent said they were not useful, per the National Association of REALTORS (NAR) 2015 Profile of Home Buyers and Sellers.

As part of a listing agent’s strategy to market your home, a weekend day will typically be set aside to give the opportunity for prospective buyers (and the neighbors) the opportunity to see the house at its best.

Holding your house open is a convenience factor for a home seller. Scheduling multiple private showings can take weeks, whereas a one-day open house allows multiple buyers to view the house at their own pace. It’s also a great way to expose the house to people who are driving around.

People are used to instant gratification – they see a house for sale, and they want to see it now. With an open house sign, they’re invited to stop in: NAR shares that in 2015, 8 percent of buyers found the home that they purchased because of a yard sign or an open house sign.

Feedback received from buyers at the open house about the condition and price of a house is very useful and will help us to understand what buyers are most interested in and what changes, if any, we need to make. With more feedback comes more insight, allowing you to adjust your listing based on any repeated comments about the house.

When a home is priced right, it will attract a lot of buyers from the get go, and more exposure can mean even fewer days on the market. You may find yourself looking down the path of a multiple offer situation, especially if your home is in a town that is known to be a “seller’s market.” In this scenario, you’ll want to schedule an open house to get the buyers in there to have an opportunity to view the home. Some sellers in this situation will not make appointments or accept offers until after the date of the open house.

An open house is also a way to show off your community, so provide information about restaurants, community centers, and schools in the area and where they are in relation to your home.

For those buyers that are searching from afar, they may have gotten a taste of the home thanks to its online presence. In their online search, they could compile information about the local community as well. Just as visiting an open house in person will offer a different perspective then an online presence, visiting a community, rather than reading about it online, will offer a realistic feeling about it what it might mean to move in.

Often, neighbors will visit an open house, and can provide more information to the agent holding the house open, and the buyers attending, about the house, the neighborhood, and the surrounding community.

For open houses to be effective, they need to be sufficiently advertised, both online and with appropriate signage. The house should be well-staged with both the owners and their personal photos out-of-sight so the perspective buyers can envision themselves there.

The National Association of Realtors shares that in 2015, 48 percent of all buyers used an open house as a source in their home search process. While your house might not sell at an open house, the buyer for your house could be attending another open house in the area, reason enough for any home seller to be sure to put “open house” on the list as part of their strategy to market their home.

Melissa Rolland is a real estate salesperson and realtor. She lives in Tolland with her husband, Todd, an associate broker and realtor. Together, they manage the Rolland Realty Group at Keller Williams Realty. You can connect with them at www.RollandRealtyGroup.com or 866-408-8059.