Is there an Open House Trick??

By
Real Estate Agent with RE/MAX Executive Realty 150522

I have several listings that will be part of community OPEN HOUSES this weekend.  I have never felt that Open Houses have produced buyers.....but is our market changing in this aspect as well.  Does a combination of stagging and Open Houses invite a new buyer.  With the majority of buyers shopping on line (I have seen numbers from 80-90% in the last few weeks) is this the next step?

Does it eliminate the need for Buyer Agents?

Does it give you an advantage over homes that do not participate?

Do you have financing information included in the home?

Can you post Open Houses in your MLS system?

How do your promote your Open House?

What are your tricks with Open Houses?

 

Open House

 

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Rainer
84,659
Scott Silverstone
www.CTProperty.com, Connecticut Luxury & Waterfront Realty
William Raveis Real Estate

I'm a fan of using many signs.  I try to hit all the relevant major intersections and turns before the house.  I will frequently use 6-8 signs for some homes on side streets.  This takes more time and planning than using just a couple signs, but I find that I will get more people to stop by because of this.  Also, not everyone has a GPS, and this helps many people who saw Internet/newspaper ads find their way.

In addition to Sunday afternoon open houses, I also hold open houses during weekday evenings - Wine & Cheese events.  This attracts a different crowd, and turns it into more of a casual event for the neighborhood.  I've had more luck getting neighbors to stop by on a Wednesday or Thursday night, and have gotten new clients from this open house format.

March 07, 2011 01:45 AM
Rainmaker
37,166
Lee Bothast
2nd Generation Area Realtor
Coldwell Banker Residential Brokerage

Lots of signs, and work it like a party. Don't "sit" the open house, "work" the open house! Prepare ahead of time as though you are having a meeting with a new buyer, know the numbers of the neighborhood, and know the house inside out. I get about 1/4 of my business from open houses. They work, perhaps not to sell that specific house, but it does work for my business. Perhaps a new approach of working them like your hosting a party might help revive them, and remember, the more people know about them (lots of signs - I put out 12 or so), the more people will come!

March 24, 2011 01:23 AM
Rainmaker
340,925
Donna Yates
Real Estate North GA Mountains & Lakes Blue Ridge
Coldwell Banker High Country Realty

Open houses are not all that effective here, if anything, it's more for the client to make them feel that everything is being done to sell their home.  I think our Realtor caravans are actually more productive.

May 14, 2012 04:52 AM
Rainmaker
143,023
Kevin Vitali
Helping Massachusetts Home Buyers and Home Sellers
EXIT Realty- Massachusetts Short Sales & Residential Sales

Libby- As far as im concerned, there are only a few important open houses.  The very first one, timed carefully with a listing going live as well as an open house after a major price change.  When I say major I mean in the 3 to 5% category.  Not a $5000.00 price change on a $500k listing.

I also limit my open house to an hour and a half...tops.  Anyone who is targeting that house will make it, if they are all there at the same time it makes it far more active to the other buyers.

 

November 04, 2013 07:01 AM
Rainmaker
215,905
Troy Erickson
Your Chandler, Ahwatukee, and East Valley Realtor
Terra Solis Realty, LLC www.ChandlerRealEstate.weebly.com

I believe that open houses are beneficial for a variety of reasons. Your open house signs give you exposure, and you can advertise your open house, which promotes you and your business, in a variety of ways. It also gives you an opportunity to find a potential buyer client.

At the same time, I do not feel an open house will find a buyer for that particular home, so it doesn't really benefit the home seller. Also, if you are already busy with enough business, it could be too time consuming to sit at open houses all day.

January 30, 2014 06:14 PM
Anonymous
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Rainmaker
46,007

Libby Offnick

ABR, e-PRO, SPS
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