Are Open Houses a Necessity ???

By
Real Estate Agent with Carmody and Associates LLC

Maybe an old question....but......here it is again..

 

     We all do it, and even just prior to thinking about this question I browsed through the web to see what kind of info I could find.  In multiple places including an NAR study article, Open Houses only benefit 2-4 percent of homes sold.

     Especially with a media driven, web based society, are Open Houses effective anymore..??

     If nearly 87% of recent home buyers are using the Internet as an information resource, I think maybe we could decide how to better attract the remaining 13 %

     Do I have the answer..??  no not at the moment....I am only thinking of a saying that I have heard before and I believe it apply's....

     If the horse is dead, it's time to get off of it.....the horse may not be completely dead, but I think it is atleast time to put him to pasture....

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Rainer
53,860
Kenneth Bargers
Prudential Woodmont Realty - Nashville, TN

Wayne - I enjoy open houses and find them of great value.  The focus is to promote the property but the introduction to new buyers and networking has greatly benefited me.  All the best to you and your business.

Feb 12, 2009 03:11 AM #1
Rainmaker
61,955
Brent Johnson
Chase International South Tahoe Realty - South Lake Tahoe, CA

I have never sold a house due to an open house. I have made a ton of contacts and clients, but never closed a deal. Sellers seem to love when you hold their house open also!

Feb 12, 2009 03:18 AM #2
Rainmaker
79,942
Matt Thomson
Fathom Realty Colorado - Littleton, CO
Helping you find success through real estate

Open houses serve two purposes for me, and they're pretty much in line with what Kenneth stated.  1, it gets people in the property.  You can see a house online, watch the virtual tour, see a video on YouTube, and still not get the true feel of a house until you're inside.

2, it gets me in the path of potential home buyers.  I love talking to folks, providing them with free info, and getting them interested in my and what I do in a low pressure, non-sales like way.  Hey, they came to my party, why not talk to them and host them and try to click with them?

Feb 12, 2009 03:20 AM #3
Rainmaker
752,797
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Open Houses are necessary.... #1, they appease the seller... But the reality is you almost NEVER sell a home at an open house, but what you do get is a list of potential buyers and contacts to add to your SOI, and you have some time to begin the relationship on a face to face basis.  You cant take the relationship out of the relationship business.

I have seen agents have great years last year, while others did poorly... But they stuck to the basics, and OH's was one of the basics.

Feb 12, 2009 03:20 AM #4
Rainer
6,058
Wayne Howell
Carmody and Associates LLC - Auburndale, FL

WOW...right now an overwhelming respsonse with the favor being thrown to the Open House corner...thanks everyone so far for commenting..

Feb 12, 2009 03:33 AM #5
Ambassador
517,389
Stanton Homes
Stanton Homes - New Home Builder - Raleigh, NC
Design/Build Custom Home Builder in North Carolina

Those 87% online USE being online to find potential homes.  Once they find homes, they want to see them.  Another question is - what can a good agent do ONLINE to promote an open house?  At that point, the buyer is already interested in the home, AND knows what it costs (so hopefully is viewing a home within their budget). 

 

Feb 12, 2009 03:41 AM #6
Ambassador
1,207,209
Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

I love open houses!  I enjoy networking and getting to know the people in the neighborhood.  I guess the question is..  when was the last time you had a listing and didn't do an open house?  How did the sellers feel about that?

Feb 12, 2009 03:48 AM #7
Rainer
44,955
Michael S. Mackey
CENTURY 21 All Islands - Mililani, HI
REALTOR ABR, CRS, GRI, RSPS

Add my two cents to what everyone else is saying. I tell my listing clients that the "Secret" about open houses, is that I will sell their property with my marketing plan.  The truth about the open house is that it is more of a benefit to me, to help me find new clients to tell them about my marketing system.

Feb 12, 2009 03:51 AM #8
Rainmaker
255,615
Kristi DeFazio
RE/MAX Advantage - Colorado Springs, CO
Colorado Springs Rea lEstate 719-459-5468

I love open houses because it is a great time to connect with other buyers and get feedback from potentiall buyers on the home. I know they don't really sell the home too often, but they don't hurt either.

Feb 12, 2009 03:54 AM #9
Rainer
6,058
Wayne Howell
Carmody and Associates LLC - Auburndale, FL

  Maybe its time to take the horse to the vet .....(HAH)  I am absolutley aware of generating a sphere of influence and we try network everyday !!!

  I myself do Open Houses very often so it is not that I am neglecting them...keep the comments coming...these are great....

   Sounding like I am having to recondition the leather on my saddle...LOL 

Feb 12, 2009 04:01 AM #10
Rainmaker
335,193
Leslie Prest
Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,

Open houses just don't draw very many (often NO) people in my area, and never did even when the market was hot. RE is local- if they work in your area, use them. If they don't, why bother?

Feb 12, 2009 04:15 AM #11
Rainer
6,058
Wayne Howell
Carmody and Associates LLC - Auburndale, FL

Understanding your local market is critical !!! That is an absolute !!  Real Estate is about building your own PERSONAL business. The thing is, if you dont use Open Houses, what are you doing..??

 And fact is, just like the last comment....if they work, use them.  If they dont....exactly, why bother..???  Great input...

Feb 12, 2009 04:24 AM #12
Rainer
4,962
Julie Cleland
Prudential California Realty - South San Francisco, CA

Even in this tough market we are finding open homes are bringing in loads of buyers.  I agree with a lot of the posts stating that we as realtors get the bulk of the benefit of doing the open homes.  While they may not sell the individual house, open homes help the whole process.  It gets people into the home, it gets buyers thinking about buying and an opportunity to get to know different areas and it gives us a chance to get in front of other potential sellers attending open homes in order to meet agents and see them in action.

Feb 12, 2009 04:30 AM #13
Rainer
37,160
Jim & Cathy Wood Greater Nashville Area Real Estate
Crye-Leike Realtors, Inc. - Mount Juliet, TN

Wayne-

The Open House is an excellant tool when used in conjunction with online sites. I post my open houses on Craigs List, Realtracs, Realtor.com and email them to my Distro list of email names.

It is also a big help with Listings as it shows the neighborhood you are active.

Jim Wood, Realtor & Technology buff

 

Feb 16, 2009 02:56 AM #14
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Wayne Howell

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