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Wednesday, July 09, 2014

Real Estate Report: Open House for You?

By Judy Szablak

With more than 330 single family homes currently on the market in Westport, you can expect that fewer than 10 percent of them will be held open to the public on any given Sunday.

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Featured Home: This home at 4 Manitou Road is listed at $5,250,000. (CLICK TO ENLARGE) Photo courtesy of William Pitt Sotheby’s/Westport Realty Group.

The topic of whether to hold a public open house can be a somewhat polarizing one between a home seller and agent. On one hand, it’s added exposure, but on the other hand, only a very small percentage of homes ever sell at an open house.

In other words, every home would be sold on a Sunday if open houses worked as well as some sellers think they do, and it simply does not happen that way.

Somewhere along the line, sellers have taken it to be fact that this long-standing tradition of luring buyers into the home would result in a sale. The truth of the matter is that buyers that walk through your open house will almost always purchase something else.

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