I was out front with the dogs when my good friend, and neighbor, came by to report on the Open House down the street. I had been in earlier in the week to preview the property, so she stopped by to give me her perspective.
It got me thinking about a comment I heard recently from a prospective seller. She said if she listed with me, she did not want me showing the house to the neighbors--ever-- and certainly did not want me doing an Open House. In her words, 'they just want to see how you have decorated and report back to the neighborhood.'
Yes, that is true to some degree.
I contend, however, that there is an important reason to share your listing with the neighborhood; the neighbors can be one component of your marketing strategy!
It is well discussed that Open Houses rarely sell listings. They are often a source for buyer clients, but most homes that sell, do so as a result of the listing in the Multiple List Service. Therefore, it is often believed to be a waste of time to do Open Houses.
If you think of an Open House as a way to 'debut' your listing, to get the most people possible in and out and talking about what they saw, you might reconsider.
Our community is famous for people jumping from neighborhood to neighborhood as they outgrow houses and increase incomes. Doesn't it make sense to have one of the neighbors as your emissary at swim team practice if the subject of buying a new home comes up? Who better to sell the prospective buyer on the neighborhood than someone who lives there? Even if they are not the biggest neighborhood fan, most folks will 'sell' a neighbor's house because they understand that it helps their own value to do so.
Believe me, I have better things to do on a Sunday afternoon than hold an Open House that probably won't result in a sale, but when I get a new listing, I often hold it open-- and I invite all the neighbors. My thought is why not create another marketing channel for my listing? If the neighbors can help spread the word about a listing and help find a buyer, I say WHY NOT?
Funds Available - Long Beach, CA
Ph.D. Long Beach, CA - fundsavailable.com
If the seller is willing I am willing to do an open house. What is the worse that can happen. I sit there bored stiff? Well I have my nook for that.
Jul 11, 2011 05:56 AM
BRE # 01442690, Scott Keys Properties - San Francisco, CA
Broker / Owner San Francisco Bay Area
Holly, I love doing open houses in the area around my office and where I live - they are always busy and it gives me a great connection with the neighborhood. Depends on where the home is located - there are some areas I never do opens.
Jul 11, 2011 06:13 AM
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale
I just had an awesome house open yesterday and I am fairly sure that I had at least ten neighbors come through. I guess I don't see the harm in this because of those neighbors I am sure at least five will tell someone else about it. As far as I am concerned the more people you can get through the better! Can you have to much free marketing? I think not!
Jul 11, 2011 06:26 AM
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale
Hi Holly: I agree that having the neighbors on "your side" and keeping them in the loop is definitely a plus. As the others have mentioned, chatting with them a little can take the edge off their curiosity, make the sale a positive one for the neighborhood, and perhaps even get you more business from their advertising. Who knows - maybe they'll even clean up their property to impress prospective new neighbors!
Jul 11, 2011 06:28 AM
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON
In Manhattan, lots of people love to stay in the building they live in and an open house is a great way for people who already live in the building to see the apartment and like you said tell their friends about an apartment available in the building.
Jul 11, 2011 06:34 AM
3:16 team REALTY - Frisco, TX
Great post Holly. Open house work in some area and not all. In our area, the only people visiting open houses are their neighbours. It is a waste of time for us but we still have some agents who conduct them.
Jul 11, 2011 06:46 AM
Souza Realty 916.408.5500 - Roseville, CA
Greater Sacramento Area Homes, Land & Investments
Holly, I think every situation is unique when it comes to open houses...the seller's view, the condition of the house and also the location will determine how much "traffic" an open house is likely to generate. :)
Jul 11, 2011 07:03 AM
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL
I agree with you Holly, although I only do open houses when I can't avoid it. I remember one time when the homeowner got all upset when she found out one of her neighbors viewed her home. She didn't mind if any of the other neighbors dropped by, but this was someone she had locked horns with before. Oh, the drama!
Jul 11, 2011 07:03 AM
Christie's International Real Estate - Hillsdale, NJ
Bergen County NJ Real Estate
Holly - You just never know who comes to an open house how word will and can spread. Neighbors or not. it's all good.
Jul 11, 2011 07:12 AM
Reliant Realty, Murfreesboro - Murfreesboro, TN
Murfreesboro TN Homes & Real Estate
I agree with you Holly but rarely hold Open Houses. They just don't seem to work and my seller's don't want to open their home with such low odds of obtaining a buyer from them.
Jul 11, 2011 07:35 AM
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co
Hi Holly,
I'm pretty much in agreement with Leilani (#16) and if I have an owner who is concerned about the neighbors I let them know they ususally show up the first time around, but that's about it.
On the flip side, I explain they may be just nosey, or they may have someone they know who would like to move into the neighborhood. I've actually had that happen many times over the years.
Jul 11, 2011 07:59 AM
ERA Real Solutions - Grove City, OH
A Tradition of Trust
I believe making sure the neighbors know about the home is a good marketing strategy through whatever method works for you either by mail or Open House if that is your preference.
Jul 11, 2011 08:00 AM
The Kerissa Payne Team at eXp Realty - Tyler, TX
ABR, SRS, e-PRO, SRES
Holly....thanks for sharing your strategy! I enjoy hearing what works for other agents in other markets. I hold "Broker's Open Houses." I invite all the local real estate offices and cater a great lunch! I also invite the public to come on those days as well. I always post my Broker's open houses on Facebook and started having buyers ask if they could come.....of course I said YES! I like to think I'm killing two birds with one stone.
Jul 11, 2011 09:29 AM
Better Homes and Gardens RE Shore and Country Properties - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale
Holly -- I agree that open houses rarely sell the house. However, the more people you market it to...the better. I send open house invitations to the neighborhood. Sometimes I get a big return; other times fair. Either way the neighbors have a flyer in their hands with links to internet sites to share with anyone they know who might be looking. You never know who connects with whom and sends a buyer over to their neighbor's house!
Jul 11, 2011 10:04 AM
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale
I use this same strategy of using the neighbors as an asset rather than a liability. Unfortunately, I lost a very nice listing because of this. I wrote about it in May, the title...I Made One Fatal Mistake.
Jul 11, 2011 12:03 PM
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease
Holly,
We love the neighbors and go out of our way to INVITE them to an Open House and tell them to bring any home buying friends. We've frequently seen the power of the neighborhood SELL a home.
All the best, Michelle
PS - Having said that, right home & right neighorhood to for this. Not every neighborhood is an asset to the For Sale Home!
Jul 11, 2011 02:51 PM
Howard Hanna Rand Realty - Yorktown Heights, NY
Associate Broker / Office Manager
I think a "just listed" announcement to the locale is better than an open house. Neighbors can be an opportunity, as they may know a buyer who loves the area, such as a family member.
Jul 11, 2011 03:15 PM
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs
I agree. I think open houses are far less valuable now days than pre-internet times, but they're still important. You only need that one perfect person to see the place. Why pass up any opportunity to get that person in the house.
Gretchen
Jul 11, 2011 04:04 PM
Certified Realty Services - Saratoga, CA
Silicon Valley Realtor since 1976; 408-373-4411
Holly,
Another reason to welcome neighbors is that they come to the Open House to scout-out possible Listing Agents for them when they sell their home.
Jul 11, 2011 04:12 PM
Dallas, TX
REALTOR®, Broker
In my opinion nosy neighbors can be an asset. Anyone you can get into the house is or knows a potential buyer.
Jul 12, 2011 10:52 AM
Rainmaker
652,216
652,216
Holly Weatherwax
A Great Real Estate Experience
Comments(30)