Byline: Christine Dunn

Oct. 7--In his 16 years in the real estate business, broker John Hodnett has held only one open house.

"I don't think I've ever lost a sale," as a result, he said.

Hodnett, of Lila Delman Real Estate, acknowledges that many agents, including some in his own office, swear by open houses as an important and effective marketing tool. But "personally, I'm not a fan," he said.

"You can talk to 100 real estate agents," Hodnett said. "And 40 or 50 will tell you they're a complete waste of time. It's one of the most widely debated things in real estate."

According to the National Association of Realtors, 80 percent of homebuyers last year ...