I Love Open Houses

By
Real Estate Broker/Owner with Island Style Realty Inc. RB-19250

Open House SignI have recently read several articles and a few blog posts questioning the effectiveness of holding open houses.  I have also spoken to agents in other markets how do not feel they are effective.

I can say without any hesitation that open houses are alive and well on Oahu.  I am sure there are many markets that have similar successes.

In the last few years I have not kept statistics, but I can say without hesitating that over half of my listings were purchased by buyers who visited my open houses.  I have also picked up several clients.

I have two choices can sit by the phone hoping a buyer or their agent will call or I can put an ad in the newspaper, send out a hand full of e-mails, a few signs on the road and spend 3 or 4 hours greeting potential buyers.  Not a tough choice for me.

I know there are extremely slow markets that are not seeing the kind of traffic that I have been seeing.  The question is still the same.  Are you waiting for the phone to ring or are you out hustling up buyers in some way?

Just my thought for the day as I prepare my flyers for tomorrow's open house.

Posted by

 

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Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

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Rainer
5,528
Span City
Independent

Open houses are great if you prepare for them.  Let people know you are holding them. Use sign riders, send out e-mail flyers, invite the neighbors, have recent sales data with you.  If you dont do something to let people know you are holding one, then they are a waste of time.

Jun 03, 2007 11:57 AM #4
Rainer
2,223
Carla Truscott
United Country WestMark Brokers - Montrose, CO
ABR, SRS

Open Houses are wonderful.  You do need to work very hard to make it successful, but it is well worth it.  When I hold an open house I have a lender and a title closer on hand to prequalilfy and answer any questions that potential clients may have, and the potential clients are very appreciative.

Jun 03, 2007 11:58 AM #5
Ambassador
1,036,511
Celeste "SALLY" Cheeseman
Century 21 Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
After writing about Open House's before I received many comments that gave me different insight on different areas. I truly believe on our island it works and works well. In other areas (especially with one house every five miles) it may not be the best marketing tool. It just depends on the neighborhood...Our Open Houses are definitely a "Sunday Event"!
Jun 03, 2007 12:00 PM #6
Rainer
2,834
Monique Rice
Global Realty - Beverly Hills, CA
Open houses are essential in our marketplace.  I have worked in several states, Hawaii included, and I believe that it doesn't matter where you live, the more people that see your listing, the more likely it will sell.  I too have procured many clients as well as SOLD my listing from an open house.  I also believe that door-knocking around the listing is also a great tool .  It gives you an opportunity to show the neighborhood how aggressive you are and that's always a good thing.  They get flyer's from everybody, but good old fashioned door-knocking will never go out of fashion.
Jun 03, 2007 12:35 PM #7
Rainmaker
333,713
Thesa Chambers
Alpine Real Estate - Bend, OR
Principal Broker - Licensed in Oregon
Open houses in my area are good - as long as you plan them around arrivals or vacationers or while an event it starting or ending - I always build my database and have picked up a buyer or two - not generally for that particular home but a sale regardless
Jun 03, 2007 12:46 PM #8
Rainmaker
623,690
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645

Joe - The neighbors are many times a resource in the selling the home or even a possible listing or future listing.

Joanne - Great idea to make that a site office.  I would have probably done the same thing.

TLW - You have to go with what works in your area.  Here Open Houses have been a winner for me.

Jun 03, 2007 03:42 PM #9
Rainmaker
623,690
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645

Carla - On occasion I have a lender on hand.  I find I like doing them myself, because I enjoy meeting people and pre-qualifying them as potential clients.

Sally - It is an event for us here.  I look forward to doing them in most cases.

Monique - I have not been doing the door knocking only because I find myself spread too thin.  As I build my team that is something I am planning to add in the mix.  Thank you.

Jun 03, 2007 03:46 PM #10
Rainmaker
623,690
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645

Richard - All good tips!

Thesa - What a great way to pick up clients where they can meet you in a real estate setting.

Jun 03, 2007 03:48 PM #11
Rainer
4,718
Sandy Knutson-Grebner
Look Again Interior Redesigns - Aurora, IL
The SDP and GCDC

Good Post.  As a Stager and Redesigner, I often stop into the open house to introduce myself and provide a brochure and business card incase there is a need for my services.  Of course, I only stop in if there aren't any potential buyers already in the home. 

Jun 03, 2007 06:21 PM #12
Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
Your Connecticut Mortgage Expert

Randy I know Realtors around here have different opinions as to how effective Open Houses are.  But as a Loan Officer I loved them, because I have made great Realtor contacts from stopping at Open Houses.  A couple of the best Realtor relationships that I have formed have come from me meeting them at an Open House.

Jun 03, 2007 07:15 PM #13
Anonymous
Anonymous
 Just sold a listing from a open house . But i just dont like it when no shows up! found that Craigslist is a good tool for free advertising. 
Jun 03, 2007 07:43 PM #14
Ambassador
739,202
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Randy... I hear all types of reasons to do or not to do open houses. I hear realtors that either complain about it or just hate them. 

Hey... sure, you don't want to work every weekend, but it can be a great time not even to market the house, but to market yourself. It's like free air time. Besides, it can be a chance to pick up buyers also.

                                                                                                            jeff belonger

Jun 03, 2007 10:26 PM #15
Rainer
86,200
Carol Williams
Nationwide: Self-employed Real Estate Copywriter, Blogger, Photographer and Real Estate Mentor - Wenatchee, WA
Wenatchee Real Estate
We sell from Open Houses, but not such a high percentage as you.  The fact is, you never know when the right buyer will come along, so you do it all for your seller client.  My assistant and I have started holding open houses together.  It's a lot more fun and we're able to tend to more visitors that way too.  
Jun 03, 2007 10:57 PM #16
Rainmaker
623,690
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645

Sandy - I wish we had a few good home stagers working my market.

George - I get occasional loan officers stopping by.  None today.

Jeff - I picked up 3 possible buyers today and got stopped by a home owner while posting my signs on the road for a possible listing.  That beats sitting in the office or watching TV.

Jun 04, 2007 12:45 AM #17
Rainmaker
623,690
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
Carol - I can be more fun with two there.  I generally do them alone, but am always willing to have a new agent or loan officer join me.
Jun 04, 2007 12:47 AM #18
Ambassador
2,036,354
Todd Clark
Keller Williams Realty - Beaverton, OR
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494

I also love open houses! They are a great way to meet new buyers and sellers. I've been noticing a lot of sellers coming to open houses to meet their agents.

Jun 04, 2007 01:14 AM #19
Rainmaker
574,889
Neal Bloom
Keller Williams Properties, Weston FL - Weston, FL
Realtor CRS-Weston FL Real Estate

Randy,

As TLW said..the same goes here ..they do not work well in our area... no idea why...just the way it is..I would do more of them but I find I can be more productive doing something else instead of waiting for 1 person to come by and not even know what they are looking for. They just do nor work here and most agents tell the sellers they will not even do them. I believe it is an old fashion part of our business..back in the late 90's in NY I did them every weekend and only sold one in 11yrs. If it works for you then go for it baby. or should I say Daddy Randy. LOL!

Jun 04, 2007 10:21 AM #20
Rainmaker
623,690
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645

Todd - I is a great way to meet people and the signs on the road give me exposure.  I get comments regularly that I must be busy because they see me a lot.

Neal - Each market is different.  Ours has has been open house friendly.  When I was starting out open houses were my best source of generating leads.

Jun 04, 2007 01:18 PM #21
Rainmaker
574,889
Neal Bloom
Keller Williams Properties, Weston FL - Weston, FL
Realtor CRS-Weston FL Real Estate

Randy,

I have picked up buyers at open houses ..but they were for other homes. When the seller asks me about it I tell then that they won't be thanking me ..I will be thanking them for picking up a client LOL! Nothing wrong with doing them if you have a market for them. I know they are very popular in CA.

Jun 05, 2007 10:22 AM #22
Rainmaker
623,690
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
Neal - I am showing property today with a new buyer I picked on Sunday at my last open house.  So it is not all bad.  That listing is in escrow with a buyer who came to a previous open house.
Jun 05, 2007 01:10 PM #23
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Rainmaker
623,690

Randy Prothero

Hawaii REALTOR, (808) 384-5645
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