Open Houses - Good or a waste of time?

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Real Estate Agent with Keller Williams Realty - Knoxville
According to a recent RISMedia article, while 80% of prospective home buyers used the Internet last year to search for properties, only 42% visited an Open House.
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Location:
Tennessee Knox County Concord Farragut
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relaxed realtor

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Rainer
82,654
Connie King
CK Staging & Design, Sevierville, TN

From what I learn in our area,  East Tennessee,  some realtors do well with open houses,  like Maryville area,  vs Sevier County,  which doesn't seem to do well at all.    I am not a realtor,  but I do interact with quite a few as a home stager.    The impression I get from local realtors is "no one attends" and it "takes up lots of time with little gain".     

 

October 20, 2007 08:34 PM
Rainer
117,873
Erin Stumpf (Attardi)
916-342-1372 / DRE# 01706589 Sacramento, CA
Dunnigan Realtors

I have gotten about 30% of my business from open houses this year...and about the same from internet-related leads...the rest have been referrals...

Huge portion of my business...

October 17, 2007 06:26 AM
Rainmaker
478,239
Karen Rice
Northeast PA & Lake Wallenpaupack Home Sales
WEICHERT, REALTORS® Paupack Group

I really think it depends on how you market them ahead of time too. 

If you just advertise in the sunday paper and slap an open house sign up the day of, you probably aren't going to get much response.
October 17, 2007 07:19 AM
Rainmaker
158,751
Leo Namiot
CT Mortgage Lender - FHA, VA - CT First Time Home Buyers, USDA, FHA, VA
www.LeoLends.com: CT Low Rate Mortgages

Hello Grant,

    Welcome to active rain, it's a great online community. Enjoy!

I have found open houses to be pretty much a waste of time for myself and my realtor partners, mostly new agents do them with the hopes of meeting a new buyer if not for that house then another.

Leo Namiot

Benchmark Mortgage

Connecticut and Florida Mortgage Specialist

October 17, 2007 07:40 AM
Rainmaker
557,407
Keith Elliott Jr
Principal Broker/Owner
KEIRE Realty Group

Hi Grant,

Welcome to Active Rain! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

October 17, 2007 10:10 AM
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Rainer
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Grant Hessman

Grant Hessman
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Open Houses - Good or a waste of time?