Law of Diminishing Returns
Show me a “For Sale” home that’s open Sunday after Sunday, rain or shine, and I’ll show you a house where: a) the home is likely overpriced and going nowhere in the market; b) a frustrated Realtor is trying to placate an impatient owner; or most likely c) both “a.” and “b.”
In my experience, 2-3 open houses at regular intervals (like every 2-3 weeks) ” at least at the same listing price ” is plenty of exposure.
Newbie Agents for Newbie Buyers
That number of public open houses translates into about 60-90 days of market time, which should be enough to sell an average-priced home in most markets.
Reason #2 most Realtors think Sunday open houses are overrated: serious Buyers ” that is, the ones working with agents ” can get in any time they want via a private showing.
Broker Open’s: The Real Deal
Want proof that many veteran agents have a dubious regard for weekend open’s?
They don’t do ’em (instead, they hand off to newbie agents who pinch hit for them).
That’s in marked contrast to Broker Open houses (for Realtors), which are held Tuesdays in the Twin Cities, and actually do result in lots of deals.
I also feel differently about doing weekend open’s at the beginning of a listing, when I’m still gauging people’s reaction to the house (which is why I typically host my own open houses).
See also, “Reason #23 to Do Open Houses”; “Sunday Open House Multiple Choice“; “Broker Open Buzz, or . . ???”; “1st Open Fanfare“; “Catering Broker Open’s (Or Not)“; and ““Embellishing Attendance at a Broker Open (Word of Advice: “Don’t’).”