Open Houses are usually an option when you list your home with a Realtor®.  Depending on the real estate company Wake Forest NC Open Housesyou choose to sell your home AND the Realtor® specifically that is your representative they may be encouraged or discouraged.  Personally, I discourage Open Houses for all of my sellers.  I'll get to some of those reasons in a moment but first you need to know what KIND of Open House your Realtor® is wanting to hold.  There are two different kinds of Open Houses:

  • Brokers Open House:  A Brokers Open House can be a viable tool for getting your home presented to many Brokers at once.  Typically, a Brokers Open is help within the first 2 weeks of listing your home.  Your Realtor® will set the date and send invitations to other area Brokers to come and view your home.  Many times there will be snacks or a lunch offered and other incentives, such as drawings, to entice other Brokers to attend.  It is also an opportunity for your Realtor® to gain valuable feedback about your home such as price, condition of the home, and other opinions from respected area professionals that will help to make your house stand out.  Regardless of the verbiage in MLS and the numerous photos there is nothing like viewing a home in person to get the true feel and vibe and possibly "match" your home with another Broker's buyer.
  • Public Open House:  
    • A Public Open House will be held on a date and time that is agreeable to both you and your Realtor®.  More often than not, an Open House will be help during the weekend.  Your Realtor® will advertise the Open House to the public with each Broker using their own method for advertising.  A Public Open House can be held throughout the term of the listing but will always be done at mutually agreeable times.  Depending on your Broker they may offer snacks or a light lunch and use that in advertising to entice more buyers to visit.  
    • Another trend are Open Houses held during the week in the late afternoon.  The thought is to potentially get buyers that may be on their way home from work.  More often than not appetizers are offered at these Open Houses.  
    • There are also "Community" Open Houses or in some areas they are called Progressive Open Houses.  If there are several homes for sale in a neighborhood (even if by different real estate firms) the Brokers will come together and hold Open Houses on the same date and time and mutually agree to "advertise" eash others listings.  A Listing Sheet will provided in each house of the Progressive Tour advertising the other Open Houses in the neighborhood.
Now, here is why I discourage (personally) Open Houses.  An Open House has ONE Realtor® typically hosting the event.  This puts the Broker in a compromising position when more that one person, couple of group shows up to see the home.  It is physically impossible for a Broker to be with all attendees at all times.  If I have a couple come through with children it can get even more hectic.  More often then not, and no offense parents but it happens ALL the time, parents are busy looking at certain aspects of a home and asking questions while little Johnny and Jill have torn off through the house and are either in the back yard on the playset, opening cabinets asking for food, or in the bathroom emptying their pockets into the toilets and flushing.  Those little buggers are FAST!  ;)  Then there is always the issue of theft.  While I do my best to remain with Open House attendees it is just not always possible.  Of course I have always asked that my sellers remove any valuables, etc. before an Open House but you just never know.  Is the buyer there to case the property for a future break in?  
 
Here is a news video that came out JUST THIS MORNING regarding recent criminal activity at Open Houses here in the Raleigh NC area.  You can also click the link to read the accompanying article.  PLEASE READ!
 

 

Check with your Realtor® before you list your home to see what their opinions are of Open Houses.  Ask them to review the pros and cons with you.  You may be a seller that wants Open Houses and you are entitled to them however, your Realtor® may or may not do them based on their company policy or personal policy. 

If you have any questions regarding Open Houses in Wake Forest NC or the Wake Forest NC Real Estate Market please feel free to give me a call or send me an email - I'd be glad to help!

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14 Comments on Open Houses - Is It A Risk You're Willing To Take?

MAR
01
2012
1 Featured Post

Great post, Leesa - some great insight and points for clients to consider when thinking about holding an open house.  Have a great day!
5:10am • #1
628,090 Points 41 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

Thanks, Gary - there really is a lot to think about in deciding whether or not to have an Open House.
5:15am • #2
269,060 Points 3 Featured Posts Outside Blog Hit Router Attended Rain Camp

Leesa: I say there aee aeeas where opens work and areas they do not work. Regardless a seller needs to secure all valuables as the hosting agent can't be in all rooms at all times.
5:22am • #3
379,000 Points 5 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Leesa,

Good points about the risk.  We do actually like open houses, but again we share those concerns up front with the owner, that the risk exists of theft.  Our new 2012 listing contracts actually added "prescription medicines" and "keys" as items to remove from easy view or accessibility for ALL showings.

Even when I am taking buyers out, there are times if there are a number of them viewing properties and kids, I cannot be everywhere as well.  Risks are there.  It's a matter of managing those risks and then getting the rewards of selling your home.

All the best, Michelle
5:23am • #4
1,452,718 Points 46 Featured Posts Outside Blog Called Shot Master

There is always some risk involved. I will not host an open house in remote areas where the home is on large acreage . There are many precautions that I take.
5:25am • #5
651,924 Points 70 Featured Posts Outside Blog Called Shot Master

Great post Leesa.  I'm with you when it comes to not encouraging open houses.  I just don't believe they work and haven't seen the need for them.  If you present the home right, price it right, it will sell.  My two cents.  Suggested by the way.  
5:26am • #6

There are pros and cons to an open house, need to find your own numbers on how many open house you do and how people come by to view that you sell to or pick up business with an old house and see if it is worth the effort, but I think it is, gets the house seen by people driving around and may hold a old. House with two agents safety in numbers 
5:26am • #7
628,090 Points 41 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

It's true, Jim - there are some areas that Open Houses work brilliantly!  I have held MANY Open Houses and the only benefit has been for me.  I get more buyers but the home that I am holding open?  Nothing has every come of that by way of an offer.
5:28am • #8
628,090 Points 41 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

I have had some real terrors with kids at Open Houses, Michelle.  Whew - kid wrangling should be an olympic sport!  ;)
5:31am • #9
628,090 Points 41 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

I can certainly understand your hesitation, Gita, when it comes to remote areas.  Not the best of places to be by yourself inviting the public in.
5:32am • #10
628,090 Points 41 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

I agree, Jared!  In this area they just aren't a viable tool for selling a home.  I DO believe in Broker Opens from time to time if it is a unique property, though.  There is just too much risk involved for both sellers and Brokers holding the Open House - I won't put myself in that position.  And THANKS!
5:37am • #11
628,090 Points 41 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

I like to have a lender with me when I DO do Open Houses.  Two bodies in the house AND they can answer any financial questions a buyer may have.  I truely wrote this post for the public though to let them think about whether they want to have an Open House and to see what has been happening in my local area.
5:45am • #12
MAR
02
2012
442,281 Points 4 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

Leesa ... Open houses in our market area are notorious for being a waste of everyone's time!  I know they are viable in some markets but not here in Northern Nevada!
6:59pm • #13
MAR
03
2012
628,090 Points 41 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

They really aren't productive here either.  I think they are fabulous in other markets but just not here.
9:37am • #14

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Leesa Finley, Realtor® Raleigh NC Real Estate & Triangle area

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