Transcript:
Today I just want to touch base on open houses. They are usually held on Sunday’s, the Realtor open houses with the balloons and everything. I'm really not a big fan of that and I will tell you why. Bottom line is it doesn't work. I have run the numbers every year and we don't have sales from open house. Now in the old days I made a living out of doing open houses every weekend. I would do two every Sunday and the difference back then was there was no Internet. So if people wanted to come out without an agent and just look around on their own that's how they did it. They had no other choice. Today with the Internet they can just flip on their computer, they can see multiple pictures, videos and scores of homes without going to open house.
That being said there is no down side to open houses as long as you don't mind getting kicked out of your house on Sunday’s and typically only get a few neighbors that will stop by, (people that are trying to figure out what their house is worth or maybe a couple of buyers who are not really serious just happen to be driving by). In fact they don't know the price or anything.
If you are going to do an open house I would suggest doing it short. Sometimes I see these open houses which are 12-5 p.m. If you walk in and see the agent is sleeping there is no excitement in an open house like that. To me a short one two hours max open house is the best way to go. This way if you had a few people they would bump into each other, seem like it is busy and create a little excitement. Bottom line today with the Internet, videos tours and photo's you don't want to do an open house, which would not have any, affect our market at all. If you have any questions you can email me at Dave@DaveMillerRealEstate.com.
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