Should You Stage an Open House?

A home seller asked me if holding an open house would help sell her home. As real estate investors, we do stage open houses for our remodeled houses. However, if your selling your personal home, here are some facts about open houses to consider.

In 2202, a survey by the Real Estate Center at Texas A & M University found that private open houses for other agents were more effective than public open houses. The agents surveyed thought public open houses troublesome, dangerous, and generally ineffective except for agents who needed to build a client base. The survey said "Although open houses are popular with sellers, they appear to be losing their appeal among agents. Sellers see the open house as an indication the agent is actively promoting the listing. Agents know, however, the odds are long that an open house will produce a buyer."

A more recent survey conducted by The National Association of Realtors in 2005 found that open houses led to only 7 percent of all home sales. In their profile of Home Buyers and Sellers, the NAR, reported that 42% of home buyers found open houses to be "Very Useful" as an information source. In fact, 55 percent of home buyers do look at open houses to gather information. However, of the nine categories listed where buyers first learned about the home they purchased, open houses was not even mentioned.

Findings include:
Most people attending open houses are not serious buyers.
Most open houses are held merely to appease sellers.
Many come to see the open house because they want to sell their house and are checking out the competition.
Agents pick up new listings at open houses.
Three out of four agents think open houses are effective in interesting buyers in homes other that than the one being shown.

Should you stage an open house to sell your home?

Not many homes actually get sold because of an open house. You get a lot of looky-lou's and unqualified buyers. Sometimes, thieves look for easy targets by visiting open houses.

Most of our houses sell on MLS--right away. This is because agents are working with qualified buyers and watch the new listings. Agents like to show properties that are staged to sell.

Free home staging tips, ideas, and information: Staging Home for Sale

Copyright © 2006 Jeanette Joy Fisher