Revenge of the open house
During the residential real estate boom of the early 2000s, real estate agents cringed at the thought of holding open houses.
Many top agents viewed the Sunday tradition as a relic. Most of the people who tour open houses do so with no intention of buying the home they are viewing, they said. Open houses are a way for the curious to finally find out how their neighbor lives. Besides, they said, homes are selling so quickly, and at such inflated prices, who even needs an open house?
Well, times have changed. The lowly Sunday open house has come back with a vengeance.
Blame it on the slow real estate market. Desperate agents are trying everything to boost their sales and increase the visibility of their listings. And one way to do that is to hold regular Sunday open houses. It doesn’t hurt that open houses give sellers the impression that their agent is at least doing something to help move their home.
By the way, I got this news regarding open houses from no less an authority than RE/MAX Northern Illinois, which sent out a press release detailing their comeback.
See if RE/MAX is right. Drive down your neighborhood on Sunday morning and count those “Open House” signs. They may even outnumber the Saturday garage-sale signs. And if you are trying to sell a home, make sure your agent has scheduled some open houses for your property. It may not result in a direct sale — open houses rarely do — but the friend of the perfect buyer for your home may attend. And that can only help your cause.
