The value of holding Open Houses is a debate now in the Real Estate Community. There are agents that are holding open houses every weekend, every Saturday, every Sunday until hopefully a house sells. Is this an effective marketing tool or does it make the homeowner look desparate. Personally I don't believe that is the way to sell a house. Each house and each seller is different and the marketing that might work for one house is different from another house.
Some seller's especially those sellers who have been in their home for a very long time remember how they bought their homes and what the agents were doing way back when and believe that is what should be done now. One of the problems with Open Houses is that buyers see a street sign, don't know the price of the home and are simply curious and so they stop by. Maybe they are looking to buy, maybe not. Maybe this was just something to do.
Neighbors love Open Houses. They really want to see your house, compare it pricewise to their house and know what is going on in their neighbohood. So, they come over and knock. "I have a relative who is looking, okay if I come through"? or "my kids wanted me to see this they are looking for a house". Mostly neighbors are uncomfortable just saying "I live down the block and I am just curious".
Real estate agents can do well holding Open Houses as well. All of those drive by's or neighbors may not buy your house but may turn into a client/customer for the agent. Time well spent.
I do believe that one Open House is a good thing when a property is first put on the market and the rest is a discussion between an agent and a homeowner.
