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Do open houses help the sellers or the buyers?

As spring makes its entrance, homeowners across the country will be opening their doors for visitors and participating in a century-old tradition – the open house.

Turns out, scouring the latest home listings on a Saturday or Sunday serves as a benefit to all parties involved – from the buyer to the seller to the real estate agent.

Only one percent of homes are sold at open houses, but they can still be beneficial to a variety of people for a couple reasons,”

4340 Lester Lane, Millcreek

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“Only one percent of homes are sold at open houses, but they can still be beneficial to a variety of people for a couple reasons,” said Marsha Marsh, owner and Realtor of Marsha Marsh Real Estate Services. The company currently operates four offices and has a roster of 50 agents.  

Benefits of Open Houses

  1. Sellers benefit because if people aren’t coming in or making appointments, this allows those who don’t have a real estate agent or don’t want to be inconvenienced to visit the house without making an appointment.  
  2. Sellers can actually benefit from “nosy neighbors,”  because neighbors who may not normally visit, have the opportunity to tour a home and share their findings with family and friends. Plus, neighbors know the area, and they can help sell potential buyers on the neighborhood.  
  3. Individuals who aren’t looking to move, but want to remodel can get ideas on current trends in the market.
  4. Agents can field general questions about the market, interest rates, investment real estate and different programs for homes, while also gaining prospective clients.
  5. Buyers can get a good idea of the market as far as price and conditions of properties.
  6. People who don’t want others to know that they are seriously looking can do it without announcing that they have an intention to buy because they can look in a more informal atmosphere.
  7. Buyers can meet their potential Realtor if they haven’t chosen one already.

“This is an ideal interviewing spot for potential buyers. They get to see what the agents are like,” said Stacey Santos, a Realtor and the President of Greater Erie Board of Realtors. “It also gets buyers seeing what’s available and helps stimulate ideas.”

Although open houses are decreasing because every house is now listed on the Internet and buyers can access homes without wasting gas.

But Marsh advises that sometimes a house can look very different in person compared to its appearance in a picture.

Marsh Madness_FB_avatarDuring a busy open house season, Marsha Marsh Real Estate Services will be hosting Marsh Madness, a full month dedicated to open houses. Individuals have the opportunity to look at properties, see what’s on the market, meet and talk to agents about real estate, or just participate in the fun.

All visitors who attend open houses are entered into a Living Room Suite Give-a-way and help to give back to a non-profit organization – Marsha Marsh Real Estate Services gives back $5 for every attendee.

“The biggest goal that we want the community to know is that buying or selling a home impacts the community,” Marsh said. “If people buy a home, then they buy paint, then they buy furniture – that moves the economy.”

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