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I sometimes wonder about the value of open houses. Do you?

By
Real Estate Agent with John L. Scott Sp34627

Another weekend and two open houses.  This means that any other business I have must be squished into the mornings or evenings.  I have yet to sell a home at an open house but I do them for a few reasons:

 

  1. I might get lucky and find the buyers for the home..... Idhao lottery
  2. I might find a buyer for another home.....(more likely and has happened)
  3. It seems a thing real estate agents should do....
  4. It helps the sellers focus on getting ready to show their house....
  5. Gives the opportunity for the neighbors to find out about the house  (without having to disturb my clients)
  6. Lets me observe what other people think of the house.....


Reasons I sometimes think that open houses our a waste of my time (and my sellers)   

  1. The sellers need to find something to do during open house...
  2. I have yet to sell the  house I have opened out of an open house....
  3. I can't be everywhere at once if the customers split up.......
  4. The viewers don't like to register......
  5. Sitting in an open house by myself can present security risks for me.....
  6. I could be showing houses (maybe even this one)......
  7. You have to put up signs and take them down....  A little tiring and a little dangerous for you and your car....


So what do I do....

  1.    I run an open house early in the listing (as soon as the house is ready for show)...
  2. If   people show up I do it again....(in a few weeks)
  3. I advertise the ________ out of it (expensive)....
  4. I let the customer decide whether they want another one  (based on the attendance) (I figure 4 sets of people are good).
  5. I invite my friends and family to visit me (to fight boredom and for security)
  6. I get balloons....
  7. Sometimes I bake cookies (but I often have them even if store bought).
  8. I bring my computer and a good book to read.....
  9. I try to pass out flyers in the neighborhood that I am doing the open house in
  10. If there are other houses near mine I invite the other Realtor to have a open house to increase traffic...

This all said I keep thinking they are a good tool but I wonder about how many to run?  I also wonder if more then 1 open house is useful?  

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Posted by

 Debbie Holmes

John L. Scott Real Estate

  

(208)761-2551 Email: d5holmes@msn.com

To search Boise Homes visit my website

 

Comments (12)

Kat DeLong
Realty ONE Group Mountain Desert - Prescott, AZ
REALTOR

Hi Debbie:  I "think" most of us (Realtors) wonder about the success rate of OH's.... I think it depends on an area, to some degree. I live in a resort-type area where we get a ton of people up on weekends. So, in the past, I've gained MANY serious buyers on those weekends.  It also depends on a location and visibility.  Do you get a lot of cars whizzing by?   Weather is another factor. 

..but do they work; I say YES a good part of the time....for gaining buyers.   We do like them: I don't really get excited about holding them, but I LOVE when I get a good lead. 

 

I wish you luck on yours!!!

Mar 08, 2008 01:02 AM
Nora Adkins
Realty Executives - Tucson, AZ

I feel your pain.  I did once actually sell the house that I was holding open.  That was in the middle of the crazy market and has not happened since.  In the last few months I've held some open houses and have had no response. I've advertised them, good signage and nothing.  It gets very frustrating.  I usually offer them to my seller and let them decide.  I'm all for doing one at the beginning for the neighbors.  This seems to be the best one.

Thanks.

 

Nora 

Mar 08, 2008 01:02 AM
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros
Sounds good to me. What I try to do is organize a group of open houses so if multipe agents in the area participate the turn out is a lot better. People collect a coupon at each house and if they have been to them all there is a drawing in the last one
Mar 08, 2008 01:04 AM
Deb Jamail
HomeLife Southern Properties - Galveston, TX
Galveston County Real Estate
As a new Realtor, I jumped right in and started doing open houses with great anticipation.  I was sorely disappointed.  Most of the visitors to my open houses have been "looky loos"...I still think that seller's expect an open house.  The other agents in my Brokerage seem to have the same results.  I reallly like Charlie's idea of a coupon and a drawing...I am going to suggest to my broker that we try that!!  Thanks
Mar 08, 2008 01:17 AM
Linda Futral
Newnan, GA
About signing in here is my little trick and it kinda goes along with what Charlie was saying.  If they sign in they are automatically registered for a $20 gas card.  Works like a charm.  Other than that I don't know what to tell ya cause all my homes are out in very rural areas not a lot of traffic and no subdivision.  I am working to change that by changing the area I focus on but right now that is how it stands.
Mar 08, 2008 01:21 AM
David Slavin
Keller Williams Premier - Katy, TX
CDPE, ABR, SRES Keller Williams Premier
Read my blog on open houses while you are sitting at an empty open house! http://activerain.com/blogsview/135983/Do-Open-Houses-Work
Mar 08, 2008 01:23 AM
Lisa Spalding
Casa Latino Four Corners, REALTOR, CDPE - Longwood, FL
REALTOR, CDPE

I like open houses BUT I do not promise them during my listing presentation.  I only choose to do opens if the house is appropriate for it (great location), is priced below market, or if the Seller truly wants one.  I only hold them open for up to 2 hours (I'm not sitting there for 3 or 4 hours) and I always have at least another agent or a loan officer with me for safety reasons. 

Plus, I have my laptop with me and have it playing a Buying Presentation and also have a window open for one of my websites for the potential customer to sign in to in case they want a Free report about buying or a Free booklet on how to sell their home fast.  :) 

Mar 08, 2008 01:23 AM
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!
Today I sat in an open house for 3 hours and 1 buyer (sort of) came in.  Since this is a short sale we will now reduce the price to $199,999 which should start attracting investors.  Also someone called on another listing.  I will show it tomorrow.
Mar 08, 2008 10:50 AM
Chad Baird
Re/Max Spirit - Dayton, OH

I was asked by a lender to have an open house.  The invited all the agents in a 5 or 6 Block area.  They called it a walking tour (or you could Drive).  The Lender ran many adds, Ballooned each property, and provided prizes.  I think it was a drawing for a 50 dollar gas card each time you signed in.  If the participiant collected a coupon from all 9 houses participating then they were in a drawing for an additional 50 dollar gift card.  Then at the end the agents did broker tours of each house, and we were put in a drawing for a gas card for doing so. 

It actually turned out well.  I did'nt win anything, but most of the agents let me have their balloons, my kids love balloons! 

Mar 08, 2008 11:38 AM
Latonia Parks
Top Bragg Realty, Fayetteville NC, Home of the 82d ABN DIV - Fayetteville, NC
Certified Military Relocation Expert
I like the idea of offering a gas card drawing for those who sign in.  It can be like pulling teeth from those who come in.  I only sit OH to increase my contacts.  That is really all that happens most times.
Mar 08, 2008 11:43 AM
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!
Well another day another open house without buyers!!!!  I sort of feel depressed.  My houses are well advertised, well priced and people aren't even looking...  I had two neighbors come in.  
Mar 09, 2008 11:31 AM
Anonymous
Deb
Sounds like my last open house.  I had one couple show up and they didn't speak English...Talk about a tough sell!!!
Mar 09, 2008 01:34 PM
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