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Are Open Houses Productive in today's market?

By Thavisak Lucky Syphanthong

Real Estate Broker/Owner with Lucky Star Realty

September 07, 2007 05:18 PM

190 Fern Lane, Crescent City

I've been doing a few open houses in the past month or so and we've had more lookers than serious people. Some of those people are nieghbors looking to see the inside of the house, or relatives or friends of people from out of the area looking to move to Crescent City or anywhere in Del Norte County. Our town even had a huge Open house "festival" in August where most of the real estate companies held open houses in conjunction with the local lender. There were people from out of town, and a few investors roaming about.

On the positive side, open houses give realtors the opportunity to go out of the office and meet people and interact with the public, even if it is just the nosey neighbor. So it is a positive activity and it makes our sellers happy that we are proactive in trying to sell their home. The question becomes, how many times should an open house be held in one property?

Will, we are doing another open house for seven of our listings. Visit my website www.luckystarrealestate.com and visit the Open Houses section. Thank you.

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Darrel Quebedeaux

Evergreen Realty & Associates Inc. - Newport Coast, CA

I love open houses and try to do at least one per week. As a buyers agent I meet serious buyers what more could I ask for?

Sep 07, 2007 05:22 PM

Joe Zapata

Keller Williams Realty Media World - Burbank, CA

Your Burbank Real Estate Expert

i do and always will believe that opens are productive. It is all a matter of how you handle them. It only takes one person to walk through to make it all worth it.

Sep 07, 2007 05:29 PM

Patti Ann Kasper

EXIT REALTY NEXUS - Blaine, MN

Blaine & North Metro Minneapolis St Paul Real Esta

There can be a lot of curb kickers at open houses, but you never know when one of them will tell a friend about a home they saw...

Lately, we have had several open houses where no one showed up. No one at all. Sometimes, it is just the weather and you can't help that.

I think your answer depends on how many of your clients want you to do open houses for them and if you can find other agents to do some opens for you. When a home is first listed, I think it is very important to do a broker's open and at least 3 public opens.

After that, it becomes a matter of scheduling.

So you just got to keep your chin up and keep going... Good luck!

Sep 07, 2007 06:54 PM

Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

Open houses are a waste of time for the seller client that you are doing the open house for. Nationally less than 1% of homes get sold through an open house. Sure they can benefit a realtor as you may pick up a client here or there. But to sell the house you are holding open? BIG WASTE of time and energy. There are so many other activities that world be a better use of your time.

Sep 08, 2007 01:35 AM

Thavisak Lucky Syphanthong

Lucky Star Realty - Crescent City, CA

Open houses are a good way for agents to meet buyers and prospects and most of last year I got some buyers and sellers from open houses. Most of the buyers who came to my open houses where people that where shopping around and did not have an agent or sellers trying to compare thier house with other listings on the market. So I guess as agents, we have the potential to get both sellers and buyers from open houses, and also the looky-lues of coarse!

The worst that can happen is that no one comes to your open house, and that would be a waste of your day...but if you brought your laptop along, you could be doing some prospecting and other work while working your open house. Also, there is that chance that the buyer that walks in the door will actually like and purchase the house. At worst case, no one shows up, but you've made your sellers happy by showing that you are doing something active to market their house.

Sep 08, 2007 07:12 PM

Joe Manausa - Tallahassee, FL

Joe Manausa Real Estate - Tallahassee, FL

Tallahassee Real Estate

I've always been a fan of open houses. We try to hold at least ten per weekend at our office. Great way to demonstrate activity and to meet potential sellers as well as active buyers.

Sep 08, 2007 11:18 PM

Tracy Santrock

Santrock Realty Group Inc. , - Cary, NC

Raleigh - Cary Broker

You will always get the Lookie Lues and the nosie neighbors. With the introduction of virtual tours and lots of pictures on the internet I find them less valueable myself.

Sep 09, 2007 02:04 AM

Frank Rubi

Frank Rubi Real Estate, LLC - Metairie, LA

FrankRubiRealEstate.com

Being in the real estate business over twenty years I still believe in them. I take off on Monday and Thursday and most Saturday. If you meet just on potential client on A Sunday afternoon. You will have appx 40 - 50 new suspects. If you convert only 10% thats 4-5 new clients a year. No I agree with above that open house do not generally sell house but if you use it a a prospecting tool, they are great money makers.

Sep 09, 2007 02:16 AM

Adam Brett

The Adam and Eric Group - Fullerton, CA

The Adam and Eric Group, Fullerton's Finest

They are always a good thing. If you do not get a buyer, at least the neighborhood knows you are working and you are branding with your signs.

For me they are a must, and especially in a slower market. You have to do the things most people don't and you will be successful.

Sep 09, 2007 06:26 AM

Are Open Houses Productive in today's market?

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