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Open House is Good for Seller

By
Real Estate Agent with Realty Executives Associates 00292515
Open houses are good for sellers. One best kept secrets and maybe the least mined by agents is that the Open House can be a fantastic way to verify or tweak the sales price. Have you ever noticed that when other agents show your listings, they give comments from buyers but usually say the price is okay. But, when you have an open house, you get to hear buyers' comments directly and their comments about the price, which can be dramatically different. I found my recent open house to be a wealth of buyer information, suggestions, and price recommendations. I will pass on the information to my sellers, and hopefully, the house will sell sooner than expected.
Pam Joffe
Solaris Realty - Tampa, FL
Cathy - Open Houses are good for us too, hopefully we can get some of those buyers to be our clients. Have a great day.
Apr 07, 2008 01:22 AM
Ken Tracy
Coldwell Banker Residential - Naperville, IL
Helping clients buy and sell since 2005

Hi Cathy.  Great point.  Sellers realize we are doing all we can.  They then become more realistic on pricing.

Ken

Apr 07, 2008 01:32 AM
Joe Virnig
RE/MAX Gold Coast REALTORS, Ventura County, California - Ventura, CA
No Ordinary Joe
Where to you place the hidden cameras?  Seriously though, I've found broker's open houses to be a great source of feedback to give sellers.  The trick is getting the agents to fill out comment cards and offering some sort of incentive to do so.  In my case, it's a group of REALTORS who collaborate by offering a drawing for cash if they visit our group of homes. If they see all 3 to 5 homes AND fill out the comments cards they are entered into the drawing.  Participating listing agents each kick in $100 and we get a lot more of attendance than without the drawing and we get valuable feedback to show the sellers.
Apr 07, 2008 01:51 AM
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

Some sellers don'twant to hace an open house for privacy reasons.

Patricia AUlson  Hampton NH Real Estate 

Apr 07, 2008 02:04 AM
Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes
I must say I wasnt feeling it the other day when I did my open house and I know it could have been better, but I did have to potential buyers for that house walk through the door. I think in this market open houses actually have a better chance of selling the home.
Apr 07, 2008 02:46 AM
DDR Realty
DDR Realty - Newburgh, NY
Orange County NY
I agree with Pam. An open house can also provide us with an excellent list of buyer prospects.
Apr 07, 2008 10:11 PM