It’s very common that we as REALTORS® hold open houses for our clients to get the home as much exposure as possible. Hopefully someone comes in off the street and purchases the home. But the reality is that this is not very often the case. In fact less than 3% of homes are sold because of an open house.
Real estate agents mainly do open houses to generate leads for themselves. Usually they find unrepresented Buyers and Sellers who are looking for a home or are thinking about selling their home.