What’s the Truth Behind Open Houses?

Selling your New Orleans home can be very stressful. If you’ve never listed a home for sale before, you may not know the truth behind open houses.

Often, new home sellers think the buyer of their home will be found at an open house and it won’t take much more than one open house to get the home sold. While this may be the truth sometimes, open houses are held for other reasons than just getting the home sold.

Why a Real Estate Agent Holds an Open House

In the majority of cases, a New Orleans real estate agent will hold an open house to meet new buyers and make the seller happy.

The home has been cleaned, the pets are gone and the smell of baked goods is wafting through the house. It’s time for an open house and your real estate agent will spend between two and four hours meeting buyers as they tour your home.

It’s not likely the open house will lead to an offer that same day. Only about 8% of home buyers find a home during an open house or from a yard sign. However, your agent may leave with prospects for other homes or even the name of someone looking to sell their home in the area.

Holding an open house is something real estate agents have done for a very long time. It used to actually work very well before the internet came about. Today, real estate agents often hold open houses to make sellers happy. Most sellers think this is a great way to sell a home, but it’s really a networking event for the agent.

Why You Should Still Hold an Open House

You never know who is going to show up and where the buyer of your home may come from. While only 8% of buyers find their home through an open house, some do find it from someone else that attended the open house.

You should still hold an open house, if your agent recommends it. However, this cannot be the only way or even the main way your home is marketed in New Orleans. About 51% of buyers find their home online and another 35% will find it through the real estate agent they work with. Make sure your New Orleans real estate agent has a full marketing plan and won’t just be holding a few open houses in hopes your home will sell.