56% of Agents Call Open Houses ‘Pointless’
Open houses are a polarizing topic in the real estate industry when it comes to judging their effectiveness. Fifty-six percent of real estate professionals recently surveyed by RISMedia called open houses “pointless,” while 44 percent said they were “powerful” in the marketing of a home.
Regardless, nearly 72 percent of agents claimed to host one to six open houses per month. Yet, nearly a quarter of agents said they avoid open houses completely.
Real estate professionals said the main reason for holding an open house is because their clients expect it. Thirty-five percent of agents said that their sellers “frequently” want to include open houses in marketing plans, while 41 percent say sellers only “sometimes” expect open houses.
Some real estate professionals argue that open houses can provide a big benefit to their business. Gaining leads and referrals led the pack as far as benefits to real estate agents, followed by gaining invaluable buyer feedback about the home as well. Fifty percent of agent surveyed credited open houses for 1 to 25 percent of their business, the survey found.
Source: “Open Houses: Powerful or Pointless?“ RISMedia