How Many Sacramento Homes Sell at an Open House?
If you’re wondering how many homes sell at an open house, you’ve come to the right place. The funny thing is if you talk to sellers, they think an open house is the #1 best marketing strategy any agent could employ. They do not realize that nationally, depending on which research you read, homes sell at an open house between 2% and 9%. Those are really low percentages. However, when used with a comprehensive marketing plan, open houses are part of the equation. They just are not the #1 way to sell a house.
Out of 100 ways to sell a house, open houses are the #91 to #98 way to sell a house.
So, why do people believe an open house is such an excellent marketing strategy? I blame it on HGTV. The truth is most open houses work like the following. An agent loads up her car with real estate signs. Then, on a Sunday afternoon, she sets them on a few street corners to direct traffic to her open house. She waits for strangers to come by. People who have no intention of buying a home. A bunch of neighbors. Kids out riding bikes. Because she is hoping a real buyer will pop in, not have a real estate agent, and she can become that buyer’s agent.
Somewhere along the way, the open house agent is also hopeful a buyer might decide to buy a home because she drove by an open house on her way to the grocery store. It does happen on occasion. A buyer might have zero intention of buying until she walks through the home and suddenly develops an enormous crush. A crush that can only be satisfied by writing an offer.
A home located in a desirable neighborhood of high demand homes is an excellent candidate for an open house. Like homes in Land Park or East Sacramento. Not every home is a good candidate and might not draw any traffic whatsoever. For me, open houses are a supplemental tool. The fact is I primarily hold open houses because my sellers expect it. They can see I’m doing something. They don’t always notice my other marketing efforts.
It’s amazing to me that due to the low odds of success, because not very many homes sell at an open house, sellers still put such a premium on this particular type of marketing. We as agents don’t tend to argue, we just go with the flow. Because our competition will promote open houses to the seller like the best thing since sliced bread.
Sometimes a seller will suggest open house ideas to me like this is brand new information that I know nothing about. They are trying to be helpful. I realize that. I don’t take it personally.
You know the best way to sell a home is not to hope for a stranger to drive by and suddenly feel an incredible urge to buy. The best way to sell a Sacramento home is to beef up internet marketing. That’s where the buyers are. Sacramento listing agents have got to market where real buyers are actively searching. Buyers are online. Few come from magazines, newspapers, laundromats, grocery carts.