Open Houses....the good the bad and the UGLY!

By
Real Estate Agent with Keller Williams-Indy Metro West AB

That title sounds like I have some great,bad and HORRIBLE stories to share about Open Houses...sorry for the mislead!! I do not!!! I just liked the title!!  ;)

I remember when I was in training at my first Real Estate company which was RE/MAX, I went through their training program, Fast Track, and learned all about holding Open Houses and their importance to my business. The instructor had us all "attend" 10 Open Houses before the end of classes so many weeks later. I went to them, walked around, asked questions and filled out my papers, which I had to turn into the instructor. I can remember as a new agent thinking how exciting to hold open houses for other Realtors until I had listings of my own! I remember how excited I was waiting for my first open house! Oh my goodness, all the potential clients I would meet! All the leads I would get!  I was all set to get all of their pertinent information so that I could get them on my mailing list to receive my newsletter and I could cultivate them into becoming my clients.

I had so many ideas! I was going to build me a HUGE list of leads with whom I would have many transactions with! Exciting stuff!!

Hmmm...ya know, it never quite happened the way I imagined it would. I held the open houses, at first for other Realtors, then for my own listings. Ya know, you think, put up the sign and they will come, right? Wrong! I think out of all of the open houses I held that first year in Real Estate I had, maybe 3 that I would consider successful. I have gotten a couple of good buyers leads and that is it.

ONE of these Open Houses was very successful. I sold the listing 2 weeks later to someone that attended and because of the timing I was able to close the house that my sellers were moving into on the same day. And the house that they bought was a upgrade of over $200,000. That was good. But it was ONE ( well 3).

 I am just wondering if this constitutes a  feeling that Open Houses are a good business move?  I wonder if it is as great as the instructor made it out to be? I mean, as I recall, she said it would be much more lucrative then this.

Maybe I am doing something wrong?

Comments (3)

Charles Tharp
Prudential California Realty - Fontana, CA
Inland Empire, Real Estate & Short Sale Specialist

I don't like open houses personally. You sit there for 3 or 4 hours, waiting for people to come in and they may not come. Less than 1/10 of 1% of homes sell at an open house. I think all they do is pacify the seller and let them think you are doing something to get them sold.

 

Feb 26, 2008 08:34 AM
Leslie Bloss, Bellevue Real Estate Professional
Bellevue, WA

Hi Christine,

I have not had any good luck with holding open houses--it is a numbers game and sometimes a good one hits!!   

Feb 26, 2008 09:42 AM
Christine Frame Martin
Keller Williams-Indy Metro West - Avon, IN
Hendricks County Realtor

Leslie and Charles~ I agree! I HATE Open Houses! I do them for the seller or as a favor to another Realtor. I have had luck with 3.  Even though I had mediocre (although some might say GOOD considering statistics) luck with my Open Houses....I just dont think they do much for US as Realtors!

Nice to hear from you!

Christine

Feb 26, 2008 02:23 PM