Myth #1: Open houses are necessary
Serious, qualified buyers are already represented by an agent and will take the time to book a showing if they are interested.
Myth #2: Open houses are effective for selling a home
A successful and effective open house would mean an offer was submitted. Less than 1% of deals are done by a buyer submitting an offer after going to an open house.
Myth #3: Nosy neighbours won't drop in
Typical demographics of an open house are nosy neighbours, buyers who haven’t been verified or don’t qualify and if you’re unlucky a thief.
Myth #4: Open houses don't work
They do work, but not for the purpose of selling the home. It is commonly used more for Real Estate Agents to meet prospective buyers who are in the market, or potential Sellers in the neighbourhood.