Buyers Give a "Thumbs Down" to Open Houses (re-blog)

Reblogger Toula Rosebrock
Real Estate Agent with Diane Turton, Realtors, Forked River, NJ

My friend, Claudette Millette of The Buyers' Counsel in Ashland, MA wrote this informative post on how buyers look for homes.

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ToulaRosebrock,com

Toula N. Rosebrock - Broker/Sales Associate (of Diane Turton, Realtors)

Unique Name ... Unique Agent ... Unique Service!

Websites:     www.Toula.org                                                                                                                 www.ToulaRosebrock.com                                                       www.OceanCountyNJRealEstateSales.com                                                     www.Toula.info

Waterfront Properties, Single Family Homes, Multi Family Homes, Condos, Townhomes, Adult Communities, Vacant Land, Commercial Properties, 1031 Exchanges

Specializing in Ocean County, New Jersey - Lacey Township Real Estate / Forked River / Lanoka Harbor

 


Original content by Claudette Millette

Buyers Give Thumbs Down to Open HousesA recent survey by the National Association Realtors showed some surprising results in the ever-changing habits of home buyers.  

An eight-page questionnaire was sent out to over 100,000 consumers who had purchased a home between July 2008 and Jun 2009.  They were asked to rank the usefulness of certain information sources typically used by Realtors® to market homes. 

The best news is that for the first in years, the real estate agent has come out on top. When asked which information sources they found to be useful consumers ranked as follows: 

 

  • Real estate agents 81%
  • The Internet 77%
  • Yard signs 42%

Open houses came out low in the ranks with 10% of buyers finding them to be very useful and 25% said that they were somewhat useful. 

But where are buyers actually finding the homes that they eventually buy? 

  • 36% found their homes on the Internet
  • 36% discovered the home from a real estate agent
  • 12% from yard signs

Happily, the most effective methods for selling a home are also the least expensive. Only 4% of buyers said they found their homes via newspapers, home books, magazines and television.  

Many of us still find open houses to be a good way to meet the public as well as an effective way to expose homes to buyers. 

But according to this latest survey - consumers, apparently, do not agree.

Copyright 2010 - Claudette Millette, Broker, Owner, The Buyers' Counsel 

Your Buyer Broker for Massachusetts Since 1992 - Always in Your Corner

MLS Property Search With No Registration Required

Ashland, Holliston, Hopkinton, Natick, Newton, Northborough, Framingham, Shrewsbury, Sherborn, Southborough, Sudbury, Wayland, Westborough  

 

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Rainmaker
643,145
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro

Toula, Years ago I decided that I got more out of open houses than my sellers did. 

Feb 06, 2010 03:02 PM #1
Rainer
391,827
Gary Swanson
Century 21 Harris & Taylor - Grants Pass, OR

Toula, like Marchel, I've always believed open houses are good for agents, but not for the home sellers.

Feb 06, 2010 04:27 PM #2
Rainmaker
507,995
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Toula, I read the stats, but my own experience has been different.  I sold 3 homes last year as a result of open houses.  The buyers found out about the opens via the Internet, but I was there to present the home in a way another agent couldn't.  My clients were well served and yes, I do make lots of contacts for future business this way too.

Feb 06, 2010 05:38 PM #3
Ambassador
762,790
Amy Hahn
Pine Knoll Shores Realty - Morehead City, NC
Realtor/Broker - Crystal Coast, NC

Toula,

Thanks for sharing Claudette's post. I missed it.  I have to say that I have never had a successful open house.  I think a lot of it depends on the area.  I've met agents in other states and cities that swear by them, but in our area they don't seem to work well.  

 

Feb 06, 2010 09:44 PM #4
Rainmaker
594,825
Laura Giannotta
Keller Williams Realty - Atlantic Shore - Little Egg Harbor, NJ
Your Realtor Down the Shore!

Toula, thanks I missed this blog and the NAR report!  Most helpful!

Feb 06, 2010 10:45 PM #5
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Rainmaker
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Toula Rosebrock

Broker/Sales Associate, Realtor, Lacey Township,
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