OPEN HOUSE?
I've said many times here that I work only for you. Here comes some more honesty!
An open house really works mostly for the benefit of the Agent, not for the seller. Many statistics have been compiled, that show an open house will sell to a walk in prospective purchaser only 3 per cent of the time.
Why does the Agent benefit?
When an agent makes an appointment to show your listing, he or she has got a qualified buyer who has asked for certain criteria to be met. The criteria could be something like, it has to have 4 bedrooms, it has to have a large yard, etc. Your home has all this, so the agent has brought someone interested to your particular home. Chances for a sale, if everything else is right, are good.
When you have an open house, potential buyers are generally doing just that. Going to all the open houses in the area to see if there is something they will like. Their criteria could be that they don't want a very large yard and they only need 3 bedrooms. Among other things they don't like, they are even looking in a completely different price range. The chances of there being a sale are slim.
Here's where the Agent doing the open comes in. If that agent does a good job establishing a good rapport with these people, they will give him or her a chance at finding them the right home. This agent has just got a good lead. Doesn't help you at all does it?
You say, OK, but at least there is that 3 per cent chance. No problem.... if you are ok with the inconvenience of having to leave for a few hours every weekend, I will gladly do an open house. Since I can't be at every open house at the same time, this is the only time where I will have a newbie from my office, or often times even an experienced agent do the open for me. Both are looking to get leads, and both are not going to turn down an opportunity to sell your house if a serious buyer walks in.
