| Open houses have been one of the marketing | | | | happened in New Jersey; as two women stole luxury |
| strategies in selling a property. Over the years, real | | | | items from a Manhattan open house. This shows that |
| estate agents and sellers conduct them in the hope to | | | | conducting an open house becomes more of a risk to |
| pick-up the right buyer. However, with the rampant | | | | the sellers rather than a rewarding experience. |
| usage of internet and virtual open houses, questions | | | | Besides, if the house is not that appealing and requires |
| have risen as to whether it is helpful or not. Of course, | | | | severe repair, it wouldn't be smart to conduct this |
| you will be the judge of that but it will depend on what | | | | event. Moreover, agents might think twice before |
| stand point you are looking. | | | | allowing their names to be associated with such |
| Seller and Real Estate Agents Point of View | | | | property. |
| Nowadays, most real estate agents benefit more | | | | What Buyers Think |
| from this activity than the sellers. Some real estate | | | | When buyers go to open houses, they get a chance |
| agents feel that people visit open houses just to inquire | | | | to converse with the real-estate agents. If they are |
| for more listings. Yes, they may look around to check | | | | interested to purchase the property, this will be their |
| the house. But it is not a 100% sure that people would | | | | chance to get an initial inspection. Doing this would |
| purchase the property right there and then. Most of | | | | allow them to ascertain the condition of the house. |
| them just come in to get information in case they | | | | However, in reality most buyers check the internet for |
| decide to purchase or sell houses in the future. In fact, | | | | listings. Therefore, shopping by attending a series of |
| the National Association Realtors (NAR) current | | | | open houses is nothing more but a daunting task. |
| statistics shows that 87% of the buyer used the | | | | Importance to Current Market Status |
| internet in shopping homes. Therefore, this just proves | | | | Looking at the current market status, you can really |
| that most buyers, who walk-in the seller's front door, | | | | say it is difficult to sell a house. Even with the rise of |
| have already pre-screened them online. | | | | internet shopping and virtual homes, not all qualified |
| For real estate agents, it is unproductive and an utter | | | | buyers can go knocking at a seller's door. In a difficult |
| waste of time. Nevertheless, it is a good way for them | | | | situation like this, all tactics may be exhausted. Though |
| to gain popularity and to harbor possible clients. | | | | open houses can be an added work, it might give a |
| Some sellers think it can put a threat on their security. | | | | good outcome. According to NAR statistics for 2008, |
| There is a risk of burglary when they welcome | | | | 48% of the buyers look into open houses to get |
| strangers into their homes. In 2007, a Leesburg woman | | | | information. This might just become a good reason for |
| has been charged 34 counts of theft at open houses. | | | | sellers and agents to give it a shot. |
| Another account of theft during open houses | | | | |