We do about 2 open houses per month. Sometimes they're time wasters, in which case we always have a good book or a laptop with us. Other times they're busy and successful and have sold the home or gotten us new clients. 

Yes; when we are short on inventory, we have a great network of agents even ones in other brokerages who will allow us to hold their listings open,

I'm guessing at 25 when I was a newbie.  I haven't held an open house in 11 years. 

Mike Rock hit the bulls-eye. Done properly, there is not better tool.

I would add, not all houses are good candidates for open houses and there must be a PURPOSE.

If you don't know the PURPOSE, admit that you don't have one and regroup.

If you think the purpose is the sell the house, what is the strategy to identify the buyer and the incentive to make them pull the trigger?  If there is no clarity in this regard, there may not be real purpose.

Someone else's listing? Never.

Closed on a 300K this past Friday due to a strategic, purposed, open house. I did write about it earlier.

Absolutely - I met lots of buyers when i was starting out by hosting other peoples' open houses

I have no idea how many; however when I first got into real estate I often held open houses.  I think they are a great use of time.  Tip = contact a FSBO and offer to host an open house for them.

Yes, I've done open houses for myself and for others. Some are well attended, and some don't have any visitors (even with marketing to neighbors, using signs/balloons, posting a week ahead of time on all the major sites, writing a post). So it could be a good use of time (or not). 

Good morning Hank. We flip an average of one house per month and have for many years. For every home we do an open house, but never for anyone else.

Make it a great week!

Hank Dugie not many. I prefer very few open houses for my listings.

I only did one open house for my broker when I started in Real Estate. A first Sunday of Football season when local team was playing - and there were no guests!

done correctly, i think there is no single RE activity that is more fruitful, especially to new agents, But to any agent when they need a kick in the butt lead wise, or business wise, in my opinion, nothing comes close

I had done few for REO properties that were going up for auction and that was one of the requirements 

We often hold these on each others listings.

More than I can count, and yes.

Always good use of my time.

Sooo many.

I have held open other agent's listings especially when I was new or had my own listing that was coming on the market in the neighborhood.  I typically don't hold open other agents' listings. 

Open houses when properly marketed can be good exposure for the property as well as an opportunity to meet neighbors and potential sellers.  

Tips.  For me lots of directional signing.   Preparation - brochures - market reports/updates - neighborhood information.     

Biggest tip -- the right attitude.  For those agents who don't like or think open houses are a waste of time --- please don't do them -- you are doing no one a favor.  

When I started out I worked other agents open houses, great way to learn. Now I think it's a great way to mix it up.   Switch open houses with another agent.  

I've held quite a few in my 18 year career and held for other agents when starting off.  This is not for me but other Realtors make the bulk of their income through holding them.