How come you aren't doing more open houses?

By
Real Estate Broker/Owner with HERMAN & CO REAL ESTATE LIC#10491202518

...this was what I heard from the seller of a recent listing.  

 

I usually become very friendly with my clients because I communicate with them very closely.  Sometimes daily.  So when this particular seller asked me why I was only doing one open house per week, I was honest with them.  And this is how I responded...

 

The truth is that open houses have always been better for the agent than for you, the seller.

 

Prospective buyers will show up to your open house, but the likelihood of that particular house being "the one" for them, is slim to none. As soon as they tell me they aren't interested in your house, I'll try to retain them as buyer clients.

 

And the results?  Only a handful of my listings have sold as a result of an open house in the last 5 years...and that's out of hundreds of deals!  But I've picked up many more buyer clients and sold them other houses.  I also picked up quite a few listings as a result of doing open houses.  

 

In my opinion, open houses are an ineffective way to market a home and could even be a security threat.  Consider this...you are letting complete strangers (and nosy neighbors) into your home.  They haven't been pre qualified and we have no idea if they are prospective buyers, or thieves casing out your home.

I only schedule private showings for buyers who have been pre qualified.  Let's just stick with the broker's open house.  

 

And they listened to me.  As matter of fact, they told me to stop doing open houses!  

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Rainmaker
3,571,895
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I would love to do more open houses and my agents would also but we have a hot market, homes are under contract in a few days!

Feb 12, 2016 12:57 AM #1
Rainmaker
288,788
Allie Angeloni
Long Realty - Oro Valley, AZ

Interesting Blog Herman Herrera!  I actually do 6 Open Houses a week, as right now we are in our busy season with vacationers and snowbirds in town.  These people love going to Open Houses, and I see different people daily, though some do stop in and say, "Hi!" now, when they see my sign.  I work as a 'Team', so sometimes I'm doing the Open House on my own, and other times with Roger.  It seems that I get friends of neighbors, but not that many neighbors seeing the homes, and most of the homes are vacant.

Feb 12, 2016 01:13 AM #2
Rainmaker
1,507,325
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

My last listing I sold to a client to came to my first open house. So they are not that useless. 

Nov 28, 2017 09:58 PM #3
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Rainer
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Herman Herrera

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