Who Said Open Houses Don't Work?

By
Real Estate Agent with www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209
https://activerain.com/droplet/59nt

Who Said Open Houses Don't Work?

open houseReading online discussions about open houses, inevitably the majority of the discussions go to the negative viewpoint: "They don't work in my area," "Open houses are a complete waste of my time," "I'm not looking for buyers, I'm trying to sell my listing!" Yes, naysayers will be naysayers!

 

It's hit or miss in our area as I'm sure it is in other areas - I've figured out what causes the 'hits' and what causes the misses! The misses are typically impromptu open houses - no forewarning; a time-frame that just doesn't allow for time for marketing - or if they're planned for the wrong time of day...or the wrong day altogether.

 

First of all, Open Houses are events - treat them as such!  Make a big deal of them - let everyone know with your marketing and your voice. Advertise, advertise, advertise them! Let the neighbors know about them; let your sphere and everyone in your social media realm know about this upcoming event. Again, if you take nothing away from this, remember Open Houses are events and should be planned as such.

 

Make your open house an EVENT!Set them at times that are not going to interfere with other major events in your area. Here, open houses planned on Carolina Panther game days are always a bust, without fail! And, heaven forbid you try hosting one in the Uptown area near the stadium on game day - anytime on game day! Tailgating begins early in the morning and even with 1:00 games ending at 4PM, traffic is a bear until 6PM and by that time, it's dark and no one really wants to attend an open house. This timing, my friends, would be a 'bust' time for an Open House!

 


 

 

I wanted to share a recent story that happened at an open house in one of our high-end communities, SouthPark.


I had a $1M property that simply wasn't getting the traffic that I thought it should and sadly, the feedback for the property was all positive. I say sadly because we like to address the negative feedback, as correcting the negatives typically turn the property into a sale. With this one, the only 'negative' was that the property was too big!

 

Open House EventSo, we decided to turn this 'big' townhome into a 'big' event and host an open house, filling the property to the gills with potential buyers...and we did. The turn-out was great and the feedback was all positive - not a soul complained about the size!

 

Because $1M buyers in our market tend to take a bit of time to make a decision, we were fairly certain that we weren't going to sell the home at the open house. But, we did keep in touch with those attendees and agents (who brought or sent their buyers), following up and answering questions they had about the property.

 

About 4 weeks later and a second visit to the home by an interested buyer, we received our first Offer. We notified all of the potential buyers' agents that we had an Offer. A second Offer came in that same day. After the agent calls, I reached out to the Open House buyers. I had in my notes that one of the Open House buyers, who lived in that same community, had been considering a larger unit. That buyer was not working with an agent and guess what? They came in with the 3rd Offer!

 

Quite frankly, the Offer that I presented on behalf of the 3rd buyer would not have been my choice as it was lower (and I told my seller just that!) but, the terms of the Offer were exactly the terms that the seller wanted. Both the buyer and seller agreed to the cash purchase with absolutely zero repairs to be made and the sellers' Closing date to be an extended one of his choice. As I don't typically do dual agency, the deal could not have been a better for a dual sale - the buyer inspected the property from top to bottom (which thankfully was fairly issue-free). The buyer and the seller were also in constant contact, working out personal property arrangements, etc.

SouthPark Home SOLD by The Maxwell House Group 

Both parties were thrilled with the outcome of the transaction and quite honestly, it was one of the smoothest transactions I've ever had. Not having to worry about inspection issues and two wonderful clients working together, I couldn't have asked for a better transaction.

 

But, WAIT! There's more!  My buyers had a smaller unit that another Open House attendee was really in the market for so, I listed and sold that unit to the other Open House buyers! Another wonderful transaction that sits atop two of my smoothest transactions - ever!

 

Park Phillips SouthPark - SOLD

 

But, WAIT! There's even more! - I will be listing the buyers' home who purchased the smaller unit as well!  ALL of this from ONE OPEN HOUSE EVENT!

 

If done correctly, open houses CAN be successful. SO, when you hear the open house naysayers speak, DON'T LISTEN! 


 

 

If you're thinking of selling your Charlotte home, I would be happy to meet with you to share our ideas of open house events for your home, as well as the our personal marketing strategy that gets the job DONE for you as well!  Visit www.ListMyCharlotteHome.com, call or text (704) 491-3310 or email me at DebeM@remax.net.

 

Hiring the RIGHT Charlotte Realtor® is critical to your home selling success!

 

© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | Who Said Open Houses Don't Work?

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Ginger Harper 01/19/2018 06:24 PM
  2. Rebecca Gaujot, Realtor® 01/20/2018 07:05 AM
Topic:
Real Estate Best Practices
Groups:
Charlotte North Carolina Area
Around The Water Cooler
Advice for Sellers
Bananatude
Tags:
do open houses work
charlotte open houses for sellers
are open houses effective in charlotte nc

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Anonymous
Kasia McDaniel

We held an open house and had one set of buyers who came 2 days before the open house. They liked it so so much that they came back for the open house. The open house had 14 buyers come through and the first couple realized they had to move fast. They put an offer in the night of the open house ABOVE asking price! As a Home Stager and homeowner I was thrilled and we accepted the offer. We closed quickly so it was a win-win for all! Open houses do work and this was in October. Love your idea to make it an event! Congrats on the multiple sales.

Jan 23, 2018 04:54 AM #74
Rainmaker
171,943
Melanie Cameron
Coldwell Banker Sea Coast Advantage - Wilmington, NC
The Cameron Team

We've found that the open houses that perform the best are usually within a 2-3 turns off of a main road. They do work to some extent, as long as you put time and effort into the premarketing.

Jan 23, 2018 04:55 AM #75
Rainer
5,250
Scott Federighi
Keller Williams Success Realty - Crystal Lake, IL
Realtor serving Chicago's North & Western Suburbs

Great post! Huge fan of Open Houses! If you work them and not sit them you will get results!

Jan 23, 2018 05:29 AM #76
Rainmaker
377,364
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

Debe, 

I am a strong proponent of Open Houses. They must be done right, an event.

Taking time to get to know the attendees and what they are looking for.

I find that holding several Open Houses I can get attendees who may not find the house we meet them in is what they are looking for but one of the other homes fits the bill.

This is cross marketing and the Sellers are the beneficiaries.

Thanks for sharing your exciting success.

Jan 23, 2018 05:48 AM #77
Rainer
6,552
Nick Calabro
Calaboration - Wood Ridge, NJ
Web Design, SEO, & Lead Generation

When we market out open houses, we go all out with not just tons of advertising but also adding in copy like, "filling up fast". The exclusivity gets people 10x more likely to want to join the event because they know not just anybody will be there but only the elite few. 

In actuality, we market out open houses the same way we'd market a high-end fundraiser or gala. 

Jan 23, 2018 07:37 AM #78
Rainmaker
309,734
Karen Rice
Keller Williams Alliance - Charlottesville, VA
Licensed in Alabama and Virginia

Wow.  I dare anyone to say Open Houses don't work after reading your success story.  I was going to relate my little Open House success story here but it fizzles by comparison to yours.   Well done for working it to the max!

Jan 23, 2018 08:19 AM #79
Rainmaker
368,638
Travis "the SOLD man" Parker; Associate Broker
Team Linda Simmons, Enterprise, AL 36330 - Enterprise, AL
email: Travis@theSOLDman.me / cell: 334-494-7846

Shazammmm - a 3'fer!!! Congratulations for being on top of the situation and working several angles for the 3 offers, plus the residuals!

Jan 23, 2018 09:17 AM #80
Rainmaker
288,958
Marti Steele Kilby, CRS
Steele Group Realty - La Mesa, CA
Broker/Owner, San Diego, CA

Congratulations!  I do agree that it needs to be an event, and obviously it can be successful.  However, I'm not a big fan for safety reasons.  Advertising and letting the world know that a woman is going to be sitting alone in an unlocked house for several hours could be inviting trouble.  I had one scary experience and will never do another open house alone!

Jan 23, 2018 09:35 AM #81
Rainmaker
189,175
Lee Potts
Aloha Group Maui - Lahaina, HI
The smarter we work, the luckier you get.

Aloha, that is a great post and perfect timing. I'm running a workshop tomorrow called "Open housing for fun and profit." I hope it's OK if I borrow some of your event ideas. Those are great ideas especially for the more "residential" parts of Maui. On much of the island second homes and vacation rental properties dominate the landscape. In those areas everyday is a weekend because most of our open house guests, the buyers, are on vacation. Your tips on promotion and preparation are key - along with consistency. Mucho mahalos and Aloha!

Jan 23, 2018 12:05 PM #82
Rainmaker
476,207
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Great story!  I never think open houses are a waste of time.  Years ago I got three different clients from one open house that turned into five transactions!

Jan 23, 2018 01:45 PM #83
Ambassador
2,955,975
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Lee Potts, I would be honored! Best of luck to you and your students tomorrow!

Jan 23, 2018 02:21 PM #84
Rainmaker
633,509
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Being creative with our open houses can really Drive traffic to them. We've had some great results with ours. I love how you followed up with both agents and your own list of potential buyers when you got that first offer. You got your seller great results!

Jan 23, 2018 05:37 PM #85
Rainer
417,909
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Debe, 

LOVE this story!  You have awesome points -planning the open house "event" makes all the difference.  However, your story takes this to a whole new level.  Way to go.

All the best, Michelle

Jan 23, 2018 06:49 PM #86
Rainmaker
518,990
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

It is a domino effect!  Especially if you make a connection with the potential buyers and stay in touch with them!  Good for you!

Jan 23, 2018 08:24 PM #87
Ambassador
2,955,975
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Michelle Francis, I just realized that I wasn't following you - what on earth?!! I fixed that!

And, thank you! Yes, I have to say, that is one of my more successful ones! I've picked up buyers but, never 'matched' so many buyers and sellers from one event!

I hope to see you in Atlanta on Saturady! Are you planning to attend the meet-up?

Jan 23, 2018 08:56 PM #88
Rainer
103,999
Anne Corbin
Long and Foster - Lake Anna - Spotsylvania, VA
Serving Lake Anna & Central Virginia

I do open houses as much as I can without expectation. That way, I can be thrilled when a success story occurs, which is actually what happened with my very first open houses. I "sold" the house to the only couple that stopped in. They are neighbors of mine, now, being two doors up!

Jan 24, 2018 08:37 AM #89
Rainer
3,648
Lemont Jones
Regal Funding Agency - Alpharetta, GA
Private funding. 90%LTV purchase money 100% Rehab

Great post!

Jan 25, 2018 09:07 AM #90
Anonymous
Christina Miller

I had a listing that did not sell, even though I did multiple open houses. I also contacted all the other Realtors who had listings in the same neighborhood and asked them if they would hold their listings open too. I created flyers with all of the homes on it - and we were all from different brokerages.

The listing did not sell - but I did get 3 different buyer clients from that one listing. Those 3 buyers all bought houses from me.

The owners of the listing loved all the effort I put in marketing their home. They are on my list of owners I am contacting this year about listing their house.

Jan 26, 2018 01:51 PM #91
Rainer
153,693
Monique Ting
INET Realty Honolulu, HI - Honolulu, HI
Your agent under the sun

Thank you for sharing your experience! It is true that sometimes hosting Open Houses can feel like a waste of time, however it is the effort put into them and the follow up that bring in the positive results... and you have shown just that.

Aloha,

Jan 26, 2018 05:50 PM #92
Rainmaker
947,857
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Congratulations on doing all of your due diligence, taking good notes, keeping track of buyers and sellers, and being a great agent for your seller.  It takes good notes to make these things happen, and diligence to pull them together.  That's one successful open house!  

Feb 05, 2018 04:51 PM #93
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