Is it in the Sellers best interest to HOLD back Showings?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

Who makes the decision to hold back showings? Meaning placing the home for sale in MLS but not allowing showings until next Saturday?  Here in New Hampshire, a trend that has developed is for the big companies to not allow showings for a week or sometimes 2 weeks after the home is listed. They state showings begin at their first open house such as noon to 2pm on Saturday.  

 

Who does this help the most? Does it help sellers? No, it could delay the home going under contract. Does it help the buyers? No, it punishes buyers who would act quick, see it the first day and make their best offer up front. Does it help the agent build up a potential client list? Yes

 

The latest trend though means that 10- 20 potential buyers are lined up on a cold NH winter day waiting to get into a home. Add in another 20-30 people who saw the open house sign and just want to see a house as they are tired of being inside. 

 

The result is often chaos. I have had more than one buyer see this and want to leave. I hear other buyer agents having similar happenings. That is another lost buyer which wont make an offer to that seller.

 

I have debated this with some of the agents and companies whose practice uses this. They often ask what i do. I use this in my listing presentation. I like to pre-market my listing while the seller gets the home ready. So when it hits MLS, showings can start day 1. To schedule showings in an orderly fashion. Buyer see other buyers, but have their own time to see and fall in love with the home. There is no stress or risks that come with an open house stampede. I set 2 or 3 days of showings with an offer deadline. 

 

Safer for the buyer, the seller and their agents in this Covid world. Everyone who is qualified to buy gets in and gets their time. They can make their best offer. Within 3 days the seller can review all offers and the home is soon under contract. Less stress, more safety and a quicker sale still at the best possible price. Agents say to me that I am missing the point and opportunity to attract more potential clients for myself. Yes, but my job was to sell this listing. My seller is happy. A happy seller tells everyone they know and the referrals flow like Niagra falls in Spring.  

 

It is important that every Buyer or Seller should not just choose any agent, choose the BEST agent for the job. Having an agent that works for you is a must. 

 

My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

 

Comments (28)

Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I agree with you about the chaos that can be caused by such shenanigans, Scott.

Feb 04, 2021 02:55 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Scott, on having this blog FEATURED in the Old Farts Club group!  

Feb 04, 2021 02:56 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Crazy market, crazy tactics. And as usual, greed is the motivator for some. Too bad. 

Feb 06, 2021 07:48 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Scott- as a non-agent, the whole thing seems to me to be motivated by what's best for the listing agent and not the sellers or buyers. 

Feb 06, 2021 03:48 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Feb 06, 2021 06:09 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Scott. No way I can top the response of Kathleen Daniels, Probate & Trust Specialist and that is not BS. Enjoy your day!

Feb 07, 2021 05:23 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Scott Godzyk - what the others are doing can easily been seen by clients as self promoting and that does not earn trust or referrals.  Your approach is spot on.

Feb 07, 2021 06:00 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
The House Kat

The process you mention that some big-brokerages use does not appear to be in the seller's best interest. Your process does.

Feb 07, 2021 06:29 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

So is the house listed in the MLS as active but not available to be seen or as coming soon?

Feb 07, 2021 07:20 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow, interesting what happens in different areas.  I have to agree with you for sure.

 

Feb 07, 2021 09:20 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

No open houses here, Scott, but we are seeing the same things you are describing, and it seems to have gotten worse with the limited inventory and strong buyer demand.

Jeff

Feb 07, 2021 12:11 PM
Hella M. Rothwell, Broker/Realtor®

I'm seeing that here where homes are on the market but not shown. Drove by one yesterday.  Frankly, it makes the home
"look" unfriendly with that sign out front but you can't get in.  Left a sour taste with my buyers.

Feb 07, 2021 04:16 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

.Does fiduciary duty cover this sort of thing? If it doesn't, it should.

 

Feb 07, 2021 03:12 PM
Paula McDonald, Ph.D.
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

This just doesn't make any sense to me at all. The logic is missing and as Marte said, "where is the fiduciary duty"?

Feb 08, 2021 09:04 AM
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

I understand totally what you are trying to convey. Some agents do their business differently or there wouldn't be this problem. I never liked the 'withholding' side of real estate. In the old days, it was try & sell it in-house. Now that means nothing & it's gather all the prospects you can. It no longer is about the seller is it?

Just like the open house, it's all about the agent really. Except in times like these, I can't remember when I sold something from an open. 

Seller is your first fiduciary.

Feb 08, 2021 09:45 AM
Christine O'Shea
Christine E O'Shea Broker - Naples, FL

Listing agents wanting a "double bubble", I understand what they are doing but it is not fair to anyone but the listing agent!

Feb 08, 2021 09:49 AM
Lynn B. Friedman CRS Atlanta GA 404-939-2727
Atlanta Homes ODAT Realty - Buckhead - Midtown - Westside ... Love our City - Love our Clients! - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Scott Godzyk 
Have to say I really agree with this post:
"schedule showings in an orderly fashion"
All the best - Lynn

Feb 08, 2021 08:46 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

If I see a home in "pre MLS" (that's what we call it) that shows it will be listed on a certain date--I apprecite knowing in advance.  That way I can contact my buyers, and we can pre arrange a time that day to plan on viewing the home via appt.

Feb 09, 2021 08:40 AM
Marti Steele Kilby, CRS
Steele Group Realty - La Mesa, CA
Broker/Owner, San Diego, CA

Besides the fact that I believe the practice is a disservice to one's sellers, I'm not sure it is such a clever ploy.  In the San Diego market, everything is selling within a few days. If I have a buyer that is ready, willing and able to buy I'm not going to encourage them to wait around for a week just to see a "coming soon" home, that they might like. And then if they like it and write an offer, they will likely be in a bidding war. Heck no! Let's go see everything that's available  today. If the "coming soon" home is later still  available, that is all well and good, but my job is to help my clients actually buy a home, not just fantasize about a home they can't view.

Feb 09, 2021 11:27 AM
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 570-801-5525

Hi Scott, Great topic, the value of pre-marketing for seller values market to market.  Not a one size fits all concept.

Feb 09, 2021 05:54 PM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

I like your less stress approach.  I've been in line repeatedly in driveays and it's getting old! 

Feb 16, 2021 06:54 PM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?