Agents are taught altogether too much manure. I just read a blog that addressed the horror and absence of value of holding open houses. It had a couple of facts. A tiny portion of open house visitors buy the house they saw at the open.
Here's an interesting one of our own. Over 60% of the people visiting opens will buy a house within six months. So the majority of people that the Agent encounters at the open are serious, motivated Buyers.
When an open is chosen well and conducted correctly it is a one of the simplest and most effective ways to generate business.
All year long Agents ask me about things they read or heard that just didn't seem right to them. In most cases their judgment and instincts are better than the advice they are receiving. So, I tell them. Trust your judgment. Something you hear may have worked for the person offering it. On the other hand the person offering it may just be repeating some error they heard rather than having first hand experience with it. Or the advice may work for the person offering it. It's a match for their personal style and their approach to their business. But it is a mismatch for yours.
Trust your judgment. Learn to trust your judgment. You will discover it is your best guide.
Keller Williams Real Estate - Hawley, PA
Northeast PA & Lake Wallenpaupack Home Sales
I always explain to my sellers that the chances are, the buyers who go through their open house are PROBABLY NOT going to buy THEIR house. Just like the buyers going through our OTHER open houses are PROBABLY not going to buy THOSE houses.
BUT - all of those buyers TOGETHER are PROBABLY going to BUY A HOUSE - and a visitor to House A may buy House C, House D may be bought by someone who originally came to House G - our open house system works because it is a SYSTEM for FINDING BUYERS for OUR LISTINGS....it takes patience and cooperation...but it DOES eventually work.
Or they may come ot the open house, then go back a couple days later WITH THEIR AGENT and then submit an offer...never letting us know that they actually came to the open house. Since the open house agent is not necessarily the listing agent, we may never know. Open House stats are really difficult to track.
Mar 04, 2010 11:59 PM
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team
Rich.....I fully agree with Karen....we have several open house events happening every weekend except on MAJOR holidays.....that's how we sell our inventory....it draws buyers and many of those buyers are serious about buying....we wouldn't think of not having an open house.
Mar 05, 2010 12:10 AM
Re/Max Chay Realty Inc., Brokerage - New Tecumseth, ON
South Simcoe, Caledon, King, Orangeville Real Esta
I have three listing and four sales so far from a total of six open houses done in 2010 (and still a number of leads that have not yet turned into anything concrete). Leads earned at no monetary cost, with just my time investment. You can get very "lucky" doing Open Houses, but you actually have to do them, and then do them effectively =)
Mar 05, 2010 12:58 AM
Real Estate Grad School - Atlanta, GA
It is great to hear feedback like this. I work with Agents from coast to coast and they all reiterate the same sentiments you are all expressing. Open Houses really do work!
Thanks for the great feedback everyone.
Mar 11, 2010 01:12 AM
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