Survey: Open Houses Still Have Their Place

Real estate practitioners scheduled more than 31,000 open houses as part of the Realtors Nationwide Open House Weekend, April 28-29, despite some debate within the industry over the value of this type of marketing. While some property professionals believe that open houses are not worth the time and energy put into them, a recent online poll of Inman News readers suggests that they still place a significant role in the market by creating exposure for a listing and providing an opportunity for the agent to reach out to potential new clients. Open houses “have their place in the marketing mix,” according to Steve McKenna of The Home Advantage Team, “just as yard signs, ads and postcards do. You wouldn’t solely market a house using postcard, nor would you rely on an open house as your only means of promotion.” Of the 218 survey respondents, 60 percent said they currently include open houses as a part of their marketing strategy. Recognizing that the overwhelming majority of house-hunters launch the process via the Internet, almost all of those 60 percent said they promote their open houses on the Web — including listing portals, agent websites, and social media. | Read More