Are open houses worth the agents time and will they bring about a buyer?
I am often asked if holding an open house at a listing will help bring about a quicker sale or mor epotential buyers.
The answer is not so black and white, It really depends on what type of home and in what type of area you are in. For new construction, open houses are a must. For existing homes in not in an area that attracts a large drive by audience, open houses are just not worth the time and effort. More open house snow than ever are ending up with little or no visitors.
Does the open house benefit the agent more than the seller then?
Open houses can benefit the agents by getting potential leads for that agent more than seeing buyer walking in to buy that house. In this market where the banks are not giving out mortgage approvals in any great numbers, Open houses are a great way to show your house to the neighbors or people out looking for something to do as they will be buying a home "in a few years" and want to see what is out there. Those are the 2 most common responses when interacting with people from my last open house.
Why do buyers shy away from open houses?
Anyone interested in a specific property, would prefer a private showing where they can take their time, look in the closets, try and place their furniture in the different rooms, imagine themselves and their family living there and most importantly not be rushed or bothered by other potential buyers or an agent following them around a house..
What properties do benefit from an open house?
If you have new construction, a new home community, multiple units, you are located in a tourist area or vacation area, the open houses are a must.
In my opinion for the average house, open houses to the public are not a great benefit to the seller. It nets the agent a few potential leads for the future, but as far a a buyer coming off the street and asking to write and offer right then and there in this economy, the odds are just not there.
WHAT DO YOU THINK?
What do you think as an agent?
What do you think as a buyer or seller?
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Updated Oct 27, 2010
Blog Written by:
Scott Godzyk
Godzyk Realty Group
Manchester NH
www.ScottSellsNH.com
Copyright 2010, All rights reserved
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