For some real estate companies, an open house is part of the marketing strategy.

"The more potential buyers you can get to view your home, the better chance you have to sell it," Eric Potts, owner/broker of Assist 2 Sell in Fort Myers, Fla., told the News-Press in a Jan. 15 article.

Open houses can provide instant feedback to sellers, as well as word of mouth once neighbors know it's on the market. And if the seller's agent finds a buyer through an open house -- although rare -- they save money on commission.

But open houses also have their drawbacks.

"You get Lookie Lou's trying to pick up some decorating hints and curious neighbors who always wanted to know how your house looks on the inside," say Eric Tyson and Ray Brown in their book House Selling for Dummies (Hungry Minds, Inc., 1999). "You also get real buyers who were attracted by your open house sign, but need a home in a different size or price range."

The other downside to open houses is ensuring the security of your possessions.

"Leaving small, easily portable valuables lying around during open houses is an open invitation to thieves," Tyson and Brown say. "Either put expensive jewelry, precious coins, rare stamps and your other small valuable items into a safe deposit box or figure out another place to put them so they are out of harm's way."

That has prompted some Realtors to limit the number of open houses they hold.

"I (hold an open house) when I have a nice house in a nice area," Realtor Violet Johnson of Southfield, Mich., told the News-Press. "I don't like to hold them for homes when people are still living in them. I don't want to have to watch their stuff."

Johnson said she holds open houses about five percent of the time.

Meanwhile, if you or your agent think holding an open house is a good idea for your situation, there are a number of things to do before the big day, including:

Published: February 24, 2004

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