From FOX BUSINESS: Open houses can be a great tool to garner interest and sell a home quicker, but only if they attract the right crowd. All too often, foot traffic into a listing is made up of nosy neighbors and uncommitted buyers. To avoid wasting sellers’ and their own time, real estate agents are increasingly shunning the open house and only showcasing the house online.
“It is a well-known fact that open houses do not sell homes,” says Doug Miller, executive director of Consumer Advocates in American Real Estate, a non-profit focused on improving the financial literacy of home buyers and sellers. “Open houses serve one purpose only, to provide free networking opportunities for rookie agents to meet buyers looking for other homes and to meet other sellers.”