When there is an open house in a neighborhood, the first ones to appear are the neighbors and the reason is always to compare that house with theirs. This also helps because they may have friends of family members interested in moving to the neighborhood.
Many seller insit their agent hold them, even though in their more candid moments, agents say that open house don´t generally yield a buyer for the featured house. They do, however, help agents bolster their client list of buyers. And those Neighbors Only open houses are a chance for agents to meet future home sellers.
In terms of effectiveness, the Internet and virtual tours may have surpàssed the open house as an agent frontline
A 2005 California Association of Realtors Study found that 68% of buyers used the internet to preview homes through tours and photos and 75% used it to identify the homes they wanted their agents to show them.
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