Consumer Focus
Do Open Houses Work?
If you ask five different people about the effectiveness of open houses, you will likely get five different answers. What used to be an automatic step in the home selling process is now viewed not only as optional, but also with a measure of skepticism. Now that you've put your home on the market, what should you do?

While many open house visitors are simply looky-loos, curious about how their neighbors live and decorate, proponents maintain that a general showing of the home is beneficial. Surveys show that friends and family of people who live in the neighborhood or surrounding neighborhoods account for 50 percent of home purchases. This is motivation enough for some people to post a sign in their lawn.

It also follows a certain logic. The more people who are aware that your house is for sale, the better the chances are that one will actually buy it, or at least know someone who might. Getting your name out there will take a little marketing by you or your agent, but it doesn't have to exhaust you or your budget.

Some things to consider when having an open house:

  • Schedule your open house for a Saturday or Sunday in mid-afternoon. Be sure you aren't competing with a major sporting or community event.

  • Place an ad in the real estate section of your local paper.

  • Put flyers in the mailboxes or at the doors of all of your neighbors and those in your surrounding neighborhoods.

  • Put an Open House sign in your front lawn, and maybe some balloons the day of to draw attention to your home.

If your house is tricky to find, directional signs on surrounding streets can be helpful.

BE PREPARED

When showing your home, take the following steps to prepare.

  • Clean, clean, clean your house. Focus especially on kitchens and bathrooms: they should shine. Organize all messes and put away valuables and items that clutter a space.

  • Fix up the outside of your house, including the entryway and the front walkway. Mow the lawn and plant some flowers, if you like. It can only enhance your home's curb appeal.

  • Add special touches to the interior the day of the open house: vases of flowers, soft music, and some pleasant scent (via potpourri or lightly scented candles).

  • Create a fact sheet with all the details a prospective home buyer would need to know about your home. Then make plenty of copies (8-1/2x11) to keep near the front door.

  • Keep a guest book near the door or with you to take down everyone's name and address, making notes next to ones who seem particularly purchase-minded.

  • Have a few blank sales contracts handy in the event someone wants to buy your home. It could happen, so why not be prepared?

Taking all these steps ensures a largely successful open house, by most standards. Also, getting your name and home in the awareness of your friends and neighbors certainly can't hurt your chances. Remember, it only takes one buyer to make it all worthwhile.