Open Houses work as the best possible tool to sell a home for top dollar, if you execute them correctly. The reason they work is they get people out from behind their computer, tablet or cell phone at home or work and give them a free look on their time. Often they already find themselves in that area during the time offered so them are impacted using their freedom of choice to swing by. This explains how we get 50%+ of our traffic for open houses from the Internet (Trulia, Zillow, Redfin are most named by visitors).
The open house is actually free advertising offered to realtors for your seller
Open houses reach more consumers by flagging it as so on portals, used as bait for visitors back to their portal and working as a great tool to get more showings for your seller. For example, at a single open house, we had 70+ visitors to the listing. The scheduling of the open house and putting it out there for online or the advertising through syndication in the Open Houses section of these portals well before the actual open house is critical to maximizing the traffic. Inherent delays with syndication, put stress on realtor to advertise in advance. Driving traffic to the open house online versus putting up a few signs at the gate and the home is the best way to drive traffic and sell the listing for more money. One key note is putting the time frame of the open house, both online as well as on the signs. For example, 4 to 6 p.m. on Friday, or 1 to 4 pm on Sunday. The game has changed as “looky-loos” are far and few between as this online education and availability of information has transcended the open house into a way of meeting qualified home buyers for your seller.