This is what real estate agents are told in Real Estate 101 training: "Open houses do NOT sell houses. Open houses have two purposes: (1) they bring buyers to the agents (who will likely buy another house); and 2) the Seller is placated and led to believe that the agent is actively trying to sell the house."
Over and over again the agent is cautioned that the Open House is futile.
What can increase the Seller's odds for a successful Open House?
1. Newspaper ads with addresses are highly effective in terms of Open House Advertising. Make sure that the directions are explicit.
2. Precede the Open House with a targeted direct mail piece (at least 1,000 pieces) containing an invitation to the event.
3. A REALTOR-directed brochure, sent by mail or fax, with an invitation to local real estate professionals with a promise that their clients and customers will be honored in terms of commission entitlement.
4. Additional signage...an Open House sign or sign rider on the subject property for a full week preceding the event, and directional arrows on the day of the Open House.
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