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Should your REALTOR® hold an Open House?

Real Estate Broker/Owner with Life Real Estate BR551856000

Should your REALTOR® hold an Open House?Should your realtor hold an open house

Are you thinking of selling your Arizona home and are pretty certain you want your REALTOR® to hold an Open House? In the Phoenix area, Open Houses are a big deal. They are a way for agents to drive their business. It isn't uncommon to see oodles of signs pointing into lush subdivisions on a weekend. So, it might seem like a good idea, right? Should your REALTOR® hold an Open House? 

Open Houses used to be a great way for the general public to get in and see your home. I say used to because, with the advancements in technology, Open Houses really aren't necessary. What? Why would I say that? 

How many people do you know who do not have a smartphone or tablet on their person at all times? I'm guessing not many, right? With professional photos, matterport virtual walkthroughs, and HD video, you can get a feel for the home before you set an appointment easily on an app for your own private showing. Why pack into a home with a bunch of strangers? Some people like to go through just to see how you decorate. They love looking at other people's stuff and seeing how they live. Are they valid buyers? Maybe. Maybe not. 

Reasons your REALTOR® should not hold an Open House

1. The number one reason your REALTORS® should not hold an Open House is it isn't necessary to get top dollar - in Arizona any REALTOR with a license can make an appointment and access the home with their MLS app and give their buyer a private showing. They can do it when it is convenient for them.

2. The second reason your REALTORS® should not hold an Open House is they/you are allowing a large portion of the general public access to your private home with no vetting. At least when an agent brings someone through with an appointment, the client is most likely pre-approved and ready to buy. The general public could be anyone. A nosy neighbor, a preditor, a thief scoping out your home. Anyone can come in if it is truly open, which I will get to in a minute. 

3. The third reason your REALTOR® should not hold an Open House is this, I'm going to be very blunt here. It serves the agent. There. I said it. Many agents have built their business on doing Open Houses.

I'm not anti-Open House so before you REALTORS get heated and start commenting, if this is your deal, fine. I have done Open Houses and if the client wants one, we will hold it open. I'm simply saying, I see a lot of agents who hold an Open House, and then they don't want to allow certain people to come in. Well, is it Open or not? We recently called an agent and requested our buyer be allowed to walk-through without us due to a scheduling conflict. The agent said no, we had to be with them. I thought this was unprofessional for one but it certainly wasn't the first time I had experienced it. In addition to protecting our agency relationship, it is the other reason for the call.  If you are holding it open and putting up signs to say it is open, it should be open to all.  I also see this as a potential Fair Housing Issue but I digress. If your agent is using your home to get themselves business, are they really focused on you and your best interests? I wonder.

4. The fourth reason your REALTOR® should not hold an Open House is this, it can easily create dual agency. Look, buyers think a REALTOR is about finding them a home. Fulfilling dreams. This is because we haven't done a great job of educating the general public or our clients. Our real job is plain and simple. It is representation. Fiduciary duties. Protecting our clients from legal pitfalls. A dual agency doesn't do this folks. I have heard all the win/win arguments and I negotiate well with myself, blah, blah, blah arguments. Not interested in hearing them again. If you do an Open House, your best interests can easily turn into dual representation, which, is an oxymoron because you cannot represent both sides fully and that is what representation by nature is. In Arizona, it is called limited representation, which is somewhat better but it is my personal opinion a REALTORS® value is now reduced to delivering information and shuffling paperwork. 

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