Are Open Houses Becoming Passé?

Are Open Houses Becoming Passé?

Open houses. At one time, a person could drive down the road and open house signs were thicker than bugs on a bumper. They seemed to rival political placards at corners and intersections. Not any more. Signposts pointing the way to open houses, in this area, are few and far between.

There are some agents who take the time to make sure the markers leading to the property are well posted and visible. Most are not! >> Open House ☛. To me, this is very telling. It demonstrates the level of interest and energy the agent is putting in. After searching to no avail, I give up and hunt for the next one. May also reflect the poor turnout as well.

So why the decline in open houses? No clear cut answer here. Some agents state that they are new in the business and are working this for a colleague to generate leads. Most say they are doing this to put on a "dog and pony show" for the sellers.

With less than stellar turnout, most agents that I have polled say that it is a complete waste of an afternoon. The decline in the market coupled with fewer buyers and unrealistic asking prices seems to pose a real challenge for real estate.

Occasionally, I hear of an offer being generated. But until the market turns around, I guess that there will be those who will continue to go against the grain of conventional wisdom and continue to conduct open houses, even if they are passé...

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