According to the wall street journal if you are looking to buy a very expensive home there may not be an open house to go to. Homes priced 5M and up are rare compared to homes priced 5M and below.
- $5 million and higher, 3.7% advertised an open house
- 6.3% of homes priced below $5 million have open houses
- $1 million and up, only 12% advertised an open house
Luxury home sellers are more private and apprehensive about letting anyone tour their homes. Agents do hold private (invite) only brokers open and or VIP reserve guest only events. Some offer some sort of wine and food tasting and or if your property is located in a 2nd home/vacation home market do they offer some sort of vacation theme event for out of town guest.
Personally and from experience I think open houses are great. In the same sense luxury home seller want to be private so do the luxury home buyers and many do not want to start working with a Realtor right away, so they tour open houses. The luxury home buyers shop for real estate like everyone else, online. They too like looking at real estate and tour open houses when readily available.
Sellers if you put your home on the market start removing your emotions and attachment to the property, it’s no longer yours once it sells. You can have the best photos and video of the property, areal video/photo, virtual tours, and even have it on every TV channel known to man but nothing will ever substitute a buyer physically walking through a home. So open your doors, get your Open House Event going, and allow people to tour the home. What’s the worst that can happen? YOU SELL THE HOME!!!