I know how integral showing a house is as an overall part of selling the home.  I mean, who would buy a house sight unseen after all?  Plain and simple – physically showing a home to potential buyers is not only time tested tradition, but will not be replaced by virtual tours or anything else… ever.

On the other hand, the value and merit of hosting open houses is drawing debate.  In fact, the concept is increasingly under fire from not only the selling parties themselves, but also by wary real estate agents.

Some agents even go as far as insisting that there is no value whatsoever in an open house.  They despise hosting them and consider them a total waste of time.  It’s pretty obvious you could say that this extreme end of the professional spectrum would claim that open houses are not effective.

A real professional would know, at least for the situation their own market holds.  But to say there’s no, zero, zilch value whatsoever in an open house – isn’t that a little extreme by any standards?

Perhaps these agents just don’t want to give up their Sundays standing around pandering to a large percentage of lurkers.  I’ll buy that excuse to some extent, but what about any eager buyers that are missed by skipping the open house?  As many segments of our national real estate market are transitioning back to buyer’s markets, deploying as many reasonable sales tactics as possible just seems like common sense to me.

On the complete opposite end of the spectrum, there are many disappointed and betrayed home sellers that feel as if their agents are merely using their home during an open house as bait to find other leads and customers.  I don’t know where the code of ethics officially stands on this issue, but I know it happens.

In fact, one of my good friends has recently been put through a similar ordeal.  After his agent hosted 4 open houses and packed the place every single time, his very desirable and very sellable entry level home still remained on the market.  It was even priced at the minimum end of the spectrum, while remaining a much better home and neighborhood when put up against comparables.

Interestingly enough, the agent was able to move several comparables at higher prices during the same time period.  I’m not trying to be a conspiracy theorist whatsoever, but the suspicion definitely points to the agent using his open house as bait to sell other homes represented.

Luckily, my friend was able to list with another agent not long after.  Needless to say, the new agent sold the house in just a week.  Could just be a coincidence I guess…

So considering both perspectives, what’s the deal with open houses – are they still effective or not?