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Open House = Waste of Time, Most of the Time

Reblogger
Real Estate Broker/Owner with Fred Griffin Real Estate Florida Broker BK436788

Are Open Houses becoming Ineffective and Outdated?  Will they become Extinct?  Are there times when an Open House is Beneficial to a Seller?  Can a Real Estate Agent gain Buyers (or Sellers) by holding Open House?

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Original content by Sammer Mudawar 01723613

If you went on a deep sea fishing trip aboard a high-tech vessel with a state of the art fish finder what do you think would be the most effective way to spend your day finding the fish?

A) Just stopping at various locations, dropping in your fishing line, and hoping some fish are there.

OR

B) Use the fish finder to locate the fish and then drop your line.

All I can say is that any commercial fisherman that uses option A is probably out of business.

Granted you can definitely get lucky once in a while with option A, but why spend all that time and energy when the results cannot be scientifically duplicated.

Open houses are similar. They are becoming more ineffective, outdated, and eventually will become extinct.  

Let me explain why:

1. Technology - Most buyers go to the internet first. They don't need to drive around to find open houses. Most of the time buyers attending open houses are doing so because their agents are busy getting more leads while you are wasting your time showing their clients property.

2. Safety - Lets face it, the world isn't becoming a safer place. In fact, many criminals use open houses to stage potential victims. 

3. Evolution - Open houses were great when there was no internet, and many agents are still using outdated techniques. As the demographics of real estate professionals, buyers, and sellers change those old techniques will become less and less common.

4. Sellers - It is not in their best interests. An open house is not needed to sell a home. In other words, the house won't not sell because you don't have an open house and it is becoming more unsafe. 

 

Yes there are certain instances to have an open house in which it is beneficial to the sellers. Those circumstances change with market conditions and the particulars of the transaction.

 

 

 

 

Sammer Mudawar, Broker

RE/MAX Prestige

Visit our careers page at - www.orangecountyhousesearch.com

www.make125k.com

 

Posted by

Frederick Griffin, Licensed Florida Real Estate Broker    

 

 

  

 

 

 

Tallahassee Florida Metropolitan Area    

 

Disclaimer:  Nothing in the above blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (3)

Eric Crane -- Your Full Service, Discount Fee Realtor®
DPR Realty LLC - Gilbert, AZ
Greater Metro Phoenix Arizona

Hi, Fred -- I still offer them and I find many of my Sellers like the idea of an open house.  but certainly, we have seen many things change over the years, so who knows.  Hope you have a great week!  Eric

Mar 03, 2013 12:49 PM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

It all depends on the home, area and agent's marketing strategy. 

Mar 03, 2013 12:58 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

We do about one open house per month on home that we flip. They are extremely effective and often a buyer comes out of the event. We prepare about a week for each open house. If they are prepared poorly, that is how the results will come out.

Make it a great week!

Mar 03, 2013 06:57 PM