Long a staple of an agent’s arsenal, open houses are held to lure buyers or brokers to view recently listed homes. However, according to statistics, buyers may not be biting. A 1990 estimate, for example, puts the odds at 250 to 1 that someone who attends an open house will buy the home. A 1995 study by the National Association of Realtors reports that open houses led to a mere 7 percent of all home sales.

In a later survey, 60 percent of the agents polled suggested that the industry should do away with open houses altogether! They cited several reasons for this. For example, a growing number of agents complain that open houses do not attract the right kind of buyer - possibly not even the right kind of citizen as many agents cited safety issues and an inherent vulnerability to crime as a major detriment to open houses.

And yet, according to a 2002 poll, most agents are still willing to play host - sometimes only because their seller clients expect them to. Then again, a 7 percent success rate is better than nothing at all

In this light, should you suggest holding an open house to your agent? That depends on a lot of things.

If your agent is on the ball, he or she will invite other real estate agents over to tour your home. This is an open house of sorts, just not one open to the public. And unlike public open houses, a broker open house has a very high chance of resulting in a sale. That’s because serious buyers usually work closely with agents and rely on their brokers to screen and search for houses that match their criteria. By exposing your home to a greater number of agents, you’ll increase your chances of finding just the right buyer.

Whether a public open house, the kind you see signs for on Sunday drives, is right for you will depend greatly on your location. For example, if you live in a desirable neighborhood with easy access to major roads and high-traffic areas, you’ll obviously attract more visitors than open houses held out in the boondocks. If your house has great curb appeal and prompts potential buyers to slow down as they drive by, you’ll attract more visitors than a poorly kept house.

You’ll also attract a few neighbors, some underqualified buyers, overly curious or just plain nosy people, a few folks merely looking for home-decorating ideas, and perhaps a straggler or two interested only in the food offered. But so what? You should actually invite your neighbors.

Why?

Because the most effective home-marketing techniques are referrals and signs.

Even if the people visiting your open house aren’t your target buyer audience, they may know someone who is. Surely, one of your neighbors knows someone who is looking for a home. Perhaps someone who is only casually looking for homes during open houses is a friend to someone who’s looking fervently.

Most open house attendees are attracted by signs and classified ads. Having your house open is just another way to get the word out there that you’re on the market. A qualified buyer may not attend your open house, but he or she may see your signs and later make an appointment for a private showing after conferring with his or her agent.

If you’re working with a real estate agent, consider the open-house option thoroughly. If your agent thinks it may be a viable tool, you’ll have a lot of work to do. In addition to the extra cleaning and yard work, you may want to do some extra printing and cooking, as well.

As for the printing, invitations to neighbors are a nice touch.

But more important, visitors will want plenty of hand-out information about the house, yard and neighborhood. As for the cooking, free refreshments are great enticements. They also lend a cozy, livable atmosphere and can create appealing aromas to greet visitors.

So open houses may have their place after all. But if your house isn’t right for an open-door policy, your agent should have plenty of other techniques to bring qualified buyers through those front doors.