OPEN HOUSES ARE NOT DEAD!
Just over 4,000 homes have sold since May 1, 2023. If we were to say that each of those had an open house schedule, well, that would be. lot of open houses. At least in our office, we prioritize every corner and cranny of a marketing strategy to best showcase the home. Online advertising, newsletter’s, home-search platforms, and of course the open house.
According to Realtor.com the NAR records show the first open house being recorded in 1910. The nature of these early open houses really are not too much different than what they are today. Except that before 1919, anyone could sell a house. It would be normal to walk by a listing and the yard be full of “For Sale” signs by several different people looking for a buyer.
One of the most attended Open Houses was held in Dallas, TX of a luxury holiday home in 1952. The Realtor offered free soft drinks and a new Cadillac to the buyer bringing through 30,000 people.
SO WHAT?
Well that is some great history, but what about today. We can refer to NAR research and statistics for some quick Real Estate highlights. In which they reveal that in 2022, just 4% of home-buyers indicated that they bought there home in direct result to an open house. Compared to a, not surprising statistic, 51% credited the internet.
Let’s take a quick step back. Before we compare the two stats, we have to remind ourselves of what the goal is for Realtors, home-buyers, and home-sellers. The quick sale from an open house can be a goal, sure. To us, our goal is to have a vibrant market, office, and a great experience for our cliental. Just like a store-front, we want open inventory for our public to walk through and explore. Open House Sunday’s are a great way to get into a neighborhood, find out more about the property, and maybe even check out the agent if you are looking for one.
To conclude, we value the open house model. In person interactions beat swiping through the search any day, especially if you are an interested buyer. Who knows, if you run into a Good Realtor, you may pick up some free cookies!
See Images Below
PENDING HOMES SALES INDEX BY REGION
