First Blog... Why Group Showings?

By
Real Estate Agent with TLC Realty, LLC BA915050
After finally finding for one of my clients what looked to be a decent investment property I was poised to contact the listing agent to schedule a showing.  In the "internal remarks" section of the listing it was stated that this property was to be shown only to groups of potential buyers at 2 specified times and dates.  While I can certainly understand that there are  many reasons for this (it was vacant,though),  I still find that these group showings are uncomfortable for some buyers who don't like the pressure that that environment creates. Obviously by only scheduling 2 showings, this broker feels very strongly that this will be a fast moving piece of property.  To me, group showings sometimes suggest that the broker is lazy and does not wish to deal with the hassle of having to set up showings to individual clients.  Your thoughts?

Comments (4)

Melissa Kruse
Gryphon - Lewis Center, OH

It might be due to the seller's request. Our office handled a property where the seller only wanted two showings because security reasons. This was also a vacant property. We did receive some calls from agents who were upset about this but it was done specifically at the request of the seller.

Jul 12, 2007 02:12 PM
Melissa Schnieders
Melissa Schnieders Photography - Wichita, KS
I would guess that it creates the "auction effect".  So, the feeling of being pressured may be just what was intended.  I sometimes take listings that for some reason or another aren't ready for showings.  So, we put them into the MLS stating no showings for a day or two - those are the listings that get a lot of activity the first few days.  What's the saying, he wants what he can't have?!
Jul 12, 2007 02:21 PM
Pam Hofmann
Third Tennessee Realty & Associates, LLC - Crossville, TN
Your Crossville, Lake Tansi & Fairfield Glade Specialist
I agree that the agent expects this to be a fast moving property, scheduling 2 showings and then raking in  the offers. Sounds good to me. Most investment buyers are savy enough to deal with the group showings.
Jul 12, 2007 02:23 PM
Justin Hayward
TLC Realty, LLC - Gray, ME
Just Call Justin!
That's exactly what my first thought was, the "auction effect"... It's like people paying more for something used on ebay than they would pay new at a retail store... It's not that they necessarily want it, they just don't want someone else to get a good deal!
Jul 12, 2007 02:24 PM