Do Open Houses Really Work?

Reblogger Lanette Branch
Real Estate Agent with RE/MAX Components

To today's seller who is anticipating (or is currently) marketing his home for sale, Donna Bosze asks just one simple question.  It's a good one...

Original content by Donna Bosze

I have been a practicing realtor for a very long time. I have seen varying types of markets: Seller markets, buyer markets, crazy markets...well, you get the idea!

I view open houses as 'soft marketing' and marketing that does not get immediate 'in your face' results....in other words, an open house today, a contract tomorrow. What it DOES achieve is:

Visability for your home to your neighbors, friends and family. If your realtor really works really hard, they can even affect the buying public. Facebook, twitter, email and fax blast, open house sign twirlers and door hanger ads can all be utilized to bring in the buying public.

Many realtors say it is a waste of time. I seriously doubt agents are TOO busy to give 3 hours of their time to the possibility of exposing their listings to the market. As a marketing professional during my pre-real estate life, I can say you have to leave no stone unturned when it comes to advertising. More is more and less is lazy!

My good advice to sellers is:

1. Choose an agent based on their ability to give you the most/best advertising money and time can buy.

2. Remember that selling your home is a team effort between you and your agent. A well staged and clean home is a pleasure to open and show on Sunday afternoons!

3.Open Houses are 'part of the advertising package' and if an agent says it doesn't work, go find an agent who is 'willing to try' to the best of their abilities.

 

 

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Rainmaker
292,777
Steve Davis
Davis Coastal Properties - Carlsbad, CA
Carlsbad CA

The Open House question has been going on since 1974 at least - when we started in Real Estate! They are what you make of them! Some agents never do an open house and some done 2 every Saturday/Sunday. Both can be successful Realtors.

Aug 29, 2010 05:30 AM #1
Rainmaker
143,370
Mike Mayer
Mike Mayer, Broker/Owner - i List For Less Realty, LLC - Lafayette, LA

I stopped hosting them years ago. In my market, they tend to be an ineffective form of marketing a property. No matter how much effort that went into promoting an open house, I could neither "quantify" the number of visitors, nor "qualify" those who showed up.

I understand they work in some markets. I support those agents who offer them!

Aug 29, 2010 05:31 AM #2
Rainmaker
103,549
Julie Ferenzi
john greene Realtor - Plainfield, IL
Julie Ferenzi

I'm not a fan of open houses.  I've done them and the turnout has often been dismal at best.  Maybe it's just my market though.

I'd rather spend my time marketing on the web because I really feel like if a buyer wants to see a house, they will schedule an appointment with a Realtor for a private showing. It doesn't make me lazy, I just like to work smarter and not harder.

I think Open House just open the doors to tourists who aren't fine tuning their search enough to be serious buyers.  Of course that's just based on my experience with them.  Some agents love them and have had great success, but I'm just not one of them.

Aug 29, 2010 05:35 AM #3
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Rainmaker
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Lanette Branch

Bel Air, MD Real Estate Agent
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