The first secret of Open Houses is that they seldom “sell” a house. Depending on the market in your area, most open houses are held as a component of an overall marketing strategy, and definitely, not a Silver Bullet. In fact, many brokers feel that the purpose is to assure sellers that they are receiving service and as a means of brokers meeting new potential customers.
The second secret is that many attendees are either nosey neighbors who were curious about how their home stacks up by comparison or people who simply enjoy looking at homes for sale. Certainly there are serious buyers cruising a particular neighborhood with a great school district, but they would likely view the home with their agent from seeing the home on-line or by the sign out front.
The third and last secret is that Open Houses have some safety downsides. Owners should secure (lock in a safe or remove) all jewelry and items of value that could walk away as the broker gets busy or distracted. More modern concerns are prescription medications and personal/financial data such as credit card statements.
Have a candid conversation with your broker before you agree to have your home “held open”.