Are Open Houses a Thing of the Past?
In the shift to utilizing more technology in the real estate industry since COVID made its way into our lives, the question comes up....are open houses really necessary to get a home sold? Based on the number of homes that are selling here in the San Ramon Valley and the diminishing inventory, the answer is probably not.
At the beginning of the pandemic the only way a buyer could view a house was watching a virtual tour and making an offer; in some cases sight unseen. While some of the hurdles have been removed for viewing homes, open houses are still not allowed. At this time no more than two people, plus the agent can be in the house at the same time.
Do Open Houses Actually Sell A House?
There are some professionals (real estate agents) who insist that an open house does not sell the home, are a waste of time as the folks that come thru the open house are probably not going to buy it and the only reason an agent would hold hold the house open is to prospect for buyers. Personally I have sold a home more than once because of the open house. It is almost impossible to know if offers received were not from someone who attended the open house, as they may be working with a agent.
Are Open Houses Only a Prospecting Tool
Sure an open house is a great way for the real estate agent to meet would be buyers and sellers. So yes it is a way to prospect, yet what is wrong with that. Real estate agents are in the business of selling.
The Future of Open Houses
I believe open houses are still relevant, regardless of how good photography, virtual tours and videos are, most buyers would prefer an open house over technology. And from a seller's perspective, an open house is less disruptive as it allows the home to be shown to multiple potential buyers over a small time frame, usually a weekend.
Once we are able to socialize and back to "normal" I believe open houses will make a return. They may be conducted differently, allowing only so many people in the house at once. And there may be sellers who won't want an open house as part of their marketing.