Are Open Houses Worth It When Selling a Home?
Yes, when they're run as part of a plan: neighbors invited, agents with matching buyers invited, every visitor followed up, and every question answered in writing. How I run an open house and what it tells a seller.
Yes, when they're run as part of a plan and not as a sign on the lawn and a sign-in sheet. A good open house puts many buyers in the home in a short time and shows you how the market reacts in person. It also brings out the questions that would otherwise come up during inspection, so you can answer them ahead of time.
How do I run one?
- Invite the neighborhood first. I call nearby owners and knock on doors before the weekend. Neighbors often know someone who wants to live on their street.
- Invite agents with matching buyers. An email through the MLS goes to agents whose buyers fit the home.
- Host it myself, with a binder: system ages, repair receipts, test results, disclosures and the floor plan.
- Get everyone to sign in, and note who already has an agent and who doesn't.
- Follow up the same day. Buyers without an agent get a short highlight sheet. Agents get the offer deadline and a direct ask for price feedback.
What does an open house tell a seller?
- Whether people come. Traffic tells you whether the price and photos are drawing people.
- What they worry about. The same two or three questions come up again and again: the basement, the roof, appliance ages.
- Whether anyone writes an offer. Visitors are encouraging. A written offer is the real answer.
What do I do with the questions?
Answer them in writing and put the answers where every buyer's agent can see them, usually as attachments in the MLS. On a recent listing, visitors kept asking about a past basement crack, radon and the age of the roof and appliances. By the next day, the repair invoice, the transferable warranty, the post-mitigation radon result and a list of system ages were all available to every agent.
Questions people actually ask.
Do open houses just bring nosy neighbors?
Some, and that's fine. Neighbors talk, and some of them have friends or family looking.
Is it safe?
Put away valuables, medication and personal papers. I stay with the home the entire time.
What if nobody makes an offer after the open house?
Then the price, the presentation or the timing needs to change. The visitor count and feedback tell us which. See what your agent should tell you in week one.
This article is general information about Massachusetts real estate, not legal, tax, or financial advice. Every property and transaction is different. For advice on your situation, talk with me and, where appropriate, an attorney, lender, or tax professional.