A real estate friend of mine in the local area once fell asleep during an open house. He had been out late the night before and the quiet of the open house was the perfect setting for a good siesta. The sellers were not amused when they returned home to the sound of snoring.
When I talk to my agent friends around the country, I’m reminded how different our real estate marketplace is when it comes to open houses.
Although the advertisements in the local newspapers might look like they offer a healthy selection of open houses, they pale compared to other parts of the country where Open House Sunday is only outdone by that Super Sunday in February.
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I'm not sure I understand why buyers in Southeastern Connecticut don't embrace open houses like their counterparts in other areas.
One exception - I have held successful open houses on new construction listings. I fondly remember back in the 80s when we opened up a new section of Pheasant Run. More than 100 potential buyers showed up for the big event!
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Today, open houses are more modest affairs with usually a few couples and maybe a nosy neighbor or two stopping by for a visit. I’ve even heard that some “potential buyers” tour open houses simply to get decorating ideas. My last two open houses, admittedly more than 10 years ago, produced no visitors. I probably would have been happy to share decorating ideas. I did resist taking a nap but admittedly watched TV.
Do open houses work? I'm sure there are conflicting opinions on the subject but locally, they don’t seem to. If they do, no one I know is bragging about them.
Probably the biggest winner of holding an open house is the agent holding the affair. An open house can be a source of business, giving the agent a chance to meet new buyers. And if you are an agent, meeting new buyers is a good thing!
Not willing to give up on the open house idea, some agents prefer holding "Brokers Opens." For a few years it seemed that every Monday, fax machines would hum and email in boxes began to fill with invitations for “Broker Opens” with free food. The menus were a virtual smorgasbord of delights! From lobster bisque to gourmet wraps, there were no boring lunch meat platters offered. “Brokers Opens” still happen but they are not as prevalent as they once were.
Reflecting on the whole idea, it appears buyers and agents prefer visiting houses “online” at a time more convenient to them. Why spend driving around on Sunday afternoon using up gas and potentially waking up an agent when you can just sit home and view a home online?
