Open Houses, Agent Caravans, and Broker Opens.

By
Real Estate Agent with Crye-Leike REALTORS® 165062

Open HousesOpen houses, Agent caravans, progressive luncheons, drawings, raffles, and broker opens are all great but if the home does not sell what is the point?  Busy work is just that.  It looks like you are doing something to sell the home, but you aren't.  Sellers need real buyers in the homes these days not just traffic to dirty up the carpets and bathrooms.  Nothing is more painful for a seller than to hire cleaning crews to spruce up and clean the home after the swarms of traffic invade but there are still no contracts.  That is adds insult to injury and conveys to the seller on many different levels that you really do not know what you are doing.

Buyers need to be qualified and motivated and ready to buy before showing them homes.  Generating useless traffic to a home that is not selling is a pointless excercise.  Opening a home to the general public that cannot afford the home, or to buyers that have badly damaged credit that is beyond repair for the foreseeable future...is not worthy of any praise.  It is shameful.  There is a big difference between generating a crowd, and generating interest that will lead to a sale. 

In this current real estate market this advice is lost on agents that have come into real estate at the peak of the market.  They are not trained correctly.  They are going through the motions and not undestanding the the purpose of the excercise.  Why not generate enormous crowds at the listed property by opening up a 'Soup-line" to feed the the mass unemployed?  Both would have the same impact.  None!

Some Quick Tips

  1. Avoid taking unsellable listings
  2. Have an appealing product to sell
  3. Price the property correctly
  4. Correct marketing the home or property to targeted potential qualified buyers
  5. Presenting the offering in the best possible setting - clean,and neutral
  6. Educate your sellers to the realities of your immediate marketplace
  7. Update a home, paint, carpet, neutralize etc.
  8. Visit all the homes you are competing with - draw strategic comparisons
  9. Find marketing mediums that work and use them
  10. Form a networking group with other agents and brokers
  11. Research and contact agents with recent sales of similar homes
  12. Canvas the neighborhood for persons with friends or relatives that may be interested
Posted by

James Crawford ABR, Broker Associate

 

 

 

 

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The Ninety-ninth Percentile
Real Estate Trends
Tags:
houses
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open houses dont work
agent opens
progressive luncheon
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Rainmaker
491,931
Vacation Rentals The Jeff Rickert Team
RE/MAX Property Specialists - Pocono Lake, PA
Poconos Vacation Rentals

Thanks for the post.

Good luck in your area.

Happy Holidays.

Dec 28, 2010 02:51 PM #1
Rainmaker
1,317,551
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

This post is very good and I am going to foward it to one of my potential clients.

Dec 28, 2010 02:53 PM #2
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Dec 28, 2010 05:47 PM #4
Rainmaker
158,162
Ed Kurosz , Lic. Assoc. RE Broker
Douglas Elliman Real Estate - Westhampton Beach & Quogue - Westhampton Beach, NY
Douglas Elliman Real Estate Hamptons & North Fork

Great post. It's really true. Happy New Year.

Dec 28, 2010 11:41 PM #5
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Jim, your quick tips are excellent advice. The only agents that attend Broker opens are when the company recommends it for "new agents".  They do it to learn the inventory.

Happy New Year!

Dec 29, 2010 12:20 AM #6
Rainmaker
4,432,267
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

.I hope sellers will read it and not insist on too many open houses. I do hold open houses but do not like to hold too many for the same listing. In my area we can post it in mls and this gives other agents the opportunity to send their buyers if they cannot be there.

Dec 29, 2010 08:16 AM #7
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Jan 03, 2011 02:44 AM #9
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Jim Crawford
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Jan 03, 2011 02:45 AM #10
Rainmaker
906,125
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Jim, taking an overpriced listing only brings you grief.  I sold more homes last year because I was more direct with them....don't get me wrong.  I still have overpriced listings right now, but they will drop their price or I'll drop the listing.

Jan 04, 2011 12:45 PM #11
Rainmaker
496,336
Alexander- Slocum
Premiere Property Group, LLC - Vancouver Washington - Vancouver, WA
Realty Team- Vancouver WA Real Estate
Hello Jim, as always you deliver excellent advice. We too avoid holding open houses; don't go on the broker caravan, and rarely attend a broker's open. Our clients want us to focus more on activities that get results in this market! John
Jan 29, 2011 08:29 AM #12
Rainmaker
432,151
Anne Hensel
South Beaches Real Estate Professionals - Saint Petersburg, FL
Realtor - Broker - St. Pete Beach, Treasure Island

I have not done an open house in years. In my market is simply is a waste of time, all you get is nosy neighbors or tourists on a rainy day. It is still a good tool for new agents to meet clients and practice their sales skills.

Mar 17, 2011 05:44 AM #13
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Homes and condos for sale in St. Petersburg Fl Tampabay  In some markets it still works very well, however when a market is saturated with inventory it is a waste of time.

Mar 17, 2011 02:14 PM #14
Rainmaker
4,432,267
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Jim, Thank you for the advice and the tips. Some sellers expect an Open house every weekend and do not believe you when you say that serious buyers would be looking at homes with their agent .

Mar 20, 2011 12:10 AM #15
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

 GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (RE/MAX Centre Realtors)  I agree.  There is a time  and a place for open houses,

Mar 24, 2011 07:24 AM #16
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