To open house or not? For many agents, the answer is clear

When was the last time you discovered a home's eventual buyer at an open house? It happens, to be sure. But usually, open house traffic – at least the first one you have in a home – is made up of neighbors gauging the competition (or just being nosy) and "tire kickers" who are considering buying eventually but who haven't gotten serious enough yet to make appointments.

Besides, with virtual tours and Flash listings, are open houses really worth the effort, potential liability and glad handing with unserious visitors?

Of course they are! Agents who still swear by the open house know what to expect, and get a lot out of them. For example:

• Talking with neighbors is an invaluable way to learn about the neighborhood – and, let's face it, the neighbors themselves. Any information you can glean from talking to people who live nearby can help sell the home.
• Open house traffic is a great way to gauge the strengths and weaknesses of your presentation of the home, and emphasize the former and fix the latter, when showing the home to potential committed buyers later.
• While many sellers are wary of letting strangers into their home, just as many expect an open house to be part of an agent's sales plan. Having people walking through and viewing the house and asking questions is a good way to give an anxious seller the "warm fuzzies" that there's interest in the house. After all, your sellers never see who's looking at the listing on your website, in the paper or elsewhere.
• Most importantly, the "tire kickers" are showing you they're interested in the neighborhood, found the property' curb appeal at least acceptable, and that they may not be at the stage where they've chosen an agent yet. Open houses are invaluable ways to generate new business from buyers.

Some very successful agents swear against open houses – but done the right way, with the right expectations, they can be a boon to all: The seller, potential buyers, and you!