Conducting an open house when your property is first listed can be very helpful. As with most advertising, visitors to open houses rarely buy that particular house but they are a great resource for advertising your property. An open house lets your neighbors know your house is for sale, and it practically invites them to come and visit and then tell their friends about your house, creating more “word of mouth” advertising.
Of course, there are other reasons that an agent holds an open house. Listing agents who “farm” (look for business – buying or selling) a particular neighborhood use them as an opportunity to meet with other local homeowners that will someday be selling their home. Your agent may hope to list their homes in the future.
If you would like to conduct several open houses, your listing agent may allow other agents to hold it open. Open houses attract prospective homebuyers and agents hope to convince some of those homebuyers to become their clients or to buy your home.
Open houses are excellent tools to promote your home by word-of-mouth. It is advisable that when holding an open house the homeowner should put away valuables and remove any personal information that may be subsequently used illegally; specifically financial information. Also, ensure that the agent will have enough help to monitor the visitors.