Open House - yes or no?

[Karin Crompton]

We just put our latest rehab on the market a couple of days ago (and it's a beauty, I must say!). I've had a few people ask whether we are having an open house, w/the implied assumption being that you always host an open house upon completion of a rehab.

I've always been under the impression that the open house does more to help the Realtor add to their contact list than to actually sell the house (btw, we are the listing agents here). The narrative, as I understand it, is that a Realtor will hold one usually because the homeowner wants one and is under the mistaken impression that it will attract serious buyers, when in reality you get curious neighbors and the competition.

What do you all say? Is an open house worth the time? I'm more than willing to do it if it is, not excited about it if it's not.