According to a recent RISMedia article, while 80% of prospective home buyers used the Internet last year to search for properties, only 42% visited an Open House.
 
Posted by Grant Hessman on 10/17/2007 12:56 AM   Comments (19)   relaxed realtor  
Generate short URL

19 Comments on Open Houses - Good or a waste of time?

OCT
17
2007
3 Featured Posts
Open houses are great if you plan and execute them right.  ktm
12:59am • #1
650,291 Points Localism Sponsor Outside Blog
This depends on time of year, area and a number of other variables.
1:02am • #2

It is good especially if you time it when someone is doing an auction.  Buyers will show up and they can go see your house too.
1:02am • #3
188,751 Points 2 Featured Posts Attended Rain Camp Called Shot Master
If you're looking for buyers (who isn't these days) then open houses are great but don't think you'll sell the house by doing an open house.
1:06am • #4
1 Featured Post
They work, I don't advertise mine and I get a few families in every time. I put open house signs on key streets with the most amount of traffic. People who come to the open house are worth their weight in gold if you can convert them to your clients. I have a post about the same subject. GOOD POST.
1:19am • #5

I've always been telling clients that I don't do open houses... They don't sell the home.  They produce buyers for the agent holding the open house...  My only problem is that ONE time I held an open house and wrote an offer in the living room, double ending the deal.  It's tough to say that they don't sell houses anymore... That day that I wrote the offer was 1/1/04... I believe.  It was a Saturday or Sunday and I now hold open houses (if I have to) on major holiday weekends for families visiting town...  Food for Thought!
1:25am • #6
1 Featured Post Hit Router
For Logan UT REal Estate Open houses are a complete waste of time. I don't know a single agent here who has ever sold a house from an open house they have held, occasionally they may pick up buyers from them, but when it comes down to actually selling that property, not in my market. There are more effective methods to sell houses and gain clients.
1:32am • #7
455,771 Points 24 Featured Posts Outside Blog

Why would you want to eliminate something that 40% of home buyers use?

If buyers come to open houses, why do you not have them?  You have enough clients as it is?

I look at an Open House as a two - hour shot where I can pick up some free leads, or I can take some "down time" if nobody comes and read a book, or write letters to my SOI.  

 
1:32am • #8
110,394 Points 1 Featured Post

I just blogged about Open Houses 2 days ago.  I love them for many reasons.
  Open Houses - I love them.
2:59am • #9

I like the potential that open houses represent.  I do think that the first Sunday of being on the market is really important to launch the house on the market, especially for neighbors (who may know someone who'd like to live in the neighborhood). 

While hosting open houses has not really generated much in the way of business for me so far, I have become much better at them, and more importantly, I know they have gotten my sellers good exposure.
3:27am • #10
I actually have very good reason to tell they work when you sell the home you are sitting and get both sides of the commission.
3:47am • #11
228,891 Points 61 Featured Posts Outside Blog

I have never sold the house I was sitting on, but have picked up buyers that bought other similar listings of mine.  

But I'm taking this weekend off.  I'm missing too much football!! 
4:45am • #12
230,597 Points 2 Featured Posts Outside Blog
Open Houses can be great...it only takes a couple hours out of your day and the rewards are worth it!
5:27am • #13
194,038 Points 2 Featured Posts Outside Blog
Grant I think you already answered the question. Would you turn away 42% of the buyers?
5:39am • #14

From what I learn in our area,  East Tennessee,  some realtors do well with open houses,  like Maryville area,  vs Sevier County,  which doesn't seem to do well at all.    I am not a realtor,  but I do interact with quite a few as a home stager.    The impression I get from local realtors is "no one attends" and it "takes up lots of time with little gain".     

 
5:40am • #15
117,873 Points 1 Featured Post

I have gotten about 30% of my business from open houses this year...and about the same from internet-related leads...the rest have been referrals...

Huge portion of my business...
6:26am • #16
455,771 Points 24 Featured Posts Outside Blog

I really think it depends on how you market them ahead of time too. 

If you just advertise in the sunday paper and slap an open house sign up the day of, you probably aren't going to get much response.
7:19am • #17
158,751 Points 2 Featured Posts Outside Blog

Hello Grant,

    Welcome to active rain, it's a great online community. Enjoy!

I have found open houses to be pretty much a waste of time for myself and my realtor partners, mostly new agents do them with the hopes of meeting a new buyer if not for that house then another.

Leo Namiot

Benchmark Mortgage

Connecticut and Florida Mortgage Specialist
7:40am • #18
557,403 Points 2 Featured Posts Outside Blog

Hi Grant,

Welcome to Active Rain! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith
10:10am • #19


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Grant__small__1280539086738

Grant Hessman

Grant Hessman

Farragut, TN

More about me…

Keller Williams Realty - Knoxville

Address: 5616 Kingston Pike, Ste. 201, Knoxville, TN, 37919

Office Phone: (865) 694-5904

Cell Phone: (865) 748-3129

Email Me

Open Houses - Good or a waste of time?


Links

Archives

RSS 2.0 Feed for this blog