CHICAGO — Open houses may be less common than they once were, but they can still play an important role in a competitive market. Bringing buyers through at the same time can create urgency, shorten the decision window, and make interest feel more immediate than a virtual tour or staggered private showings.

“From a strategic standpoint, an open house compresses the timeline in the seller’s favor,” said Mindy Price, a real estate broker at eXp Realty. “That psychological trigger – live, visible competition – is one of the most powerful motivators in a purchase decision, and you simply can’t manufacture it with a 3D virtual tour.”

Open houses can also help reinforce trust at a time when buyers are more skeptical of heavily edited photos and virtual staging, while creating opportunities to connect with buyers who may not yet be working under a representation agreement. Beyond generating traffic, an open house can help strengthen momentum, support stronger offers, and widen the pool of potential buyers.

Marketing an open house must be taken seriously, ensuring that the open house comes just a few days after the home is listed. Homes also should be cleared of clutter, more natural light let in, and windows, trim, and blinds should be cleaned. It’s more than just staging.

Erik Leland, a real estate broker at Realty First, said, “Give buyers a takeaway sheet. Provide a floor plan. Detail any recent improvements with dates and costs. Provide utility averages if you have them. Buyers who have all their questions answered are much more likely to write an offer.”

Source: Realtor (04/26) Goldschein, Eric

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