Mimosa's Anyone...

By
Managing Real Estate Broker with Simply Summit Realty

Back again with another Open House.   This time serving Mimosa’s and offering a drawing for a bottle of Schramsberg (an excellent choice designed to entice Realtors to flock over).  The question is  Whatever happened to the days when a Realtor could put up an Open House sign and be visited by numerous Realtors just because they wanted to see a new listing and become more knowledgeable about the current market?”

I was looking through the Realtor Tour list today, trying to figure out what “angle” had not been covered.  If a Realtor coordinated the visits just right,he/she could end the day having had a full course meal, including appetizers and dessert, and the chance to win a $100 dining gift card, a round of golf at the local course, and my bottle of vintage champagne.  Average cost, including food:  over $100.  This is all with no guarantee that anyone will even show up!

The fact of the matter is, we have all invested time and effort into putting as many pictures of our listings on-line.  Remember, 87%ish of all Buyers look on the web first.  Realtors are able to get a pretty good idea of what a house looks like without having to spend extra time visiting Open Houses. 

Have Open Houses Gone the Way of the Dinosaur?  I think NOT!  The sellers expectations of what we will offer have always included Open Houses.  There is something about putting the signs out, opening the door, and welcoming visitors in that is still very appealing. 

As  for today…I guess I will just help myself to a Mimosa  and enjoy a little solitude. 

 

Cheers!

Jenny G.,

Owner/Broker Simply Summit Realty.

Posted by

Jenny Gloudemans

Owner/Broker, MBA,CNE

Simply Summit Realty

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Rainmaker
1,119,230
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

We have progressive open houses and food with gift cards.  Most of the time 12 -15 folks show up.  The feedback can be very helpful in talking with the seller.  I did a poll however, and rarely is a home sold because someone came to an open house -- broker or public.

Jul 10, 2012 07:51 PM #7
Rainmaker
659,520
Realty Works Temecula
Realty Works Temecula - Temecula, CA
Real Estate, Temecula, Murrieta, Menifee

Mimosa sounds like fun!   Here it's been so hot we are going to offer bottled water and Gatoraid to home viewers!!!  

Jul 10, 2012 07:57 PM #8
Rainmaker
1,133,253
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
PasadenaCA Real Estate Representation 818.516.4393

Hi Jenny  -- while food, drink, lotto tickets, cash, trips, massages, gift cards(all things I have seen as incentives at broker caravans) I believe, as Morgan Evans commented in #5 -- a desirable, well-priced, well-located and well-presented property is still your best bet at getting an offer.  I truly believe that many of the agents attending these "parties" are there only for the goodies -- many may not have even written an offer in the last year let alone have a buyer for that particular property.   

Jul 10, 2012 08:09 PM #9
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Richard Weisser
Better Homes and Gardens Real Estate Metro Brokers - Newnan, GA
Richard Weisser Coweta Newnan Homes for Sale

Jenny...

Open house are not as prominent here because for whatever reason, they are not part of our buyer culture.

Jul 10, 2012 08:12 PM #10
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

If you have agents that are not doing much business you are risking big liability with the Mimosa

Jul 10, 2012 08:14 PM #11
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Patricia Kennedy
Evers & Company Real Estate, Inc. - Washington, DC
For Your Home in the Capital

Jenny, I will preview for mimosas any time!  Too bad you're in Colorado!

Jul 10, 2012 08:19 PM #12
Rainmaker
298,169
Charlie Dresen
Steamboat Sotheby's International Realty - Steamboat Springs, CO
Steamboat Springs, CO e-Pro

Jenny-Even though times have changed, open houses still may be important in helping someone get the "feel" of a home.  Even the best photographs can only do so much.

Jul 10, 2012 09:07 PM #13
Rainmaker
333,504
Wandanna Melliphant
Mississauga, ON
A Name Real Estate Investors Trust and Recommend

Hi Jenny,

I miss attending opening houses as well, but we never know, as trends change like fashion.

Fashion trends start by being new, old, then suddenly new again :)

Let’s see if that will hold truth in Real Estate.

Have a fabulous week

 

 

Jul 10, 2012 09:30 PM #14
Rainmaker
759,759
Sharon Parisi
Keller Williams Dallas Premier Realty - Dallas, TX
Dallas Homes

Jenny, the properties on our Realtor tours have few visitors, as well.

Jul 10, 2012 11:56 PM #15
Rainmaker
717,984
Pamela Seley, REALTORĀ®
REALTY EXECUTIVES OTF - Temecula, CA
Seals the Deals in Temecula Valley California

Jenny, I never feel right going to broker opens or open houses that offer food and such if I don't have a buyer who is even slightly interested. I don't like taking advantage of the free stuff. If it sells the home, then go for it. 

Jul 11, 2012 01:10 AM #16
Rainmaker
269,991
Marie Story
Keller Williams - Pinecrest (Miami) - Pinecrest, FL
Broker Associate, Pinecrest (Miami) Specialist

I feel that no amount of pictures or tour will take the place of previewing a property.  That's why I block out noon-2:00pm every Wednesday to attend Brokers Opens.  It's time invested in expanding my knowledge base.

Jul 11, 2012 04:34 AM #17
Rainmaker
530,633
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

I do miss those days as well.  Loved the developer evening cocktail parties too.  I do believe people feel they can see the entire thing through the pics on their MLS and not have to leave the office, house etc.  It's really not the same.  it also limits your association with others in your profession.  Sign of the times.

Jul 11, 2012 06:33 AM #18
Rainmaker
895,372
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jenny, house tours have always been a way to stay on top of the market and preview the homes for sale. Unfortunately, the homes to preview always seem to be the ones with the best menu. Good luck with your open house.

Jul 11, 2012 06:37 AM #19
Rainmaker
1,369,833
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

I respect the Internet and I know it is here to stay...However, some things remain best when personalized. Open houses are just that. Face to face will never go out of style. We need to smell, touch, hear and feel and not just SEE things

Jul 11, 2012 06:53 AM #20
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Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Mimosas will attract anyone. . you may need to put the word out where Realtors hang around.. .Facebook!

Jul 11, 2012 07:23 AM #21
Ambassador
1,321,534
Tammie White
Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net - Franklin, TN
Franklin TN, South of Nashville

Jenny, I rarely attend a Broker's Open. Primarily because I preview a lot of homes. I know my niche market very well. I have held Broker's Opens with low attendence. I don't do it anymore. There are better ways to spend my $100.

Jul 11, 2012 09:05 AM #22
Rainmaker
1,022,463
Adrian Willanger
206 909-7536 TheHomeFunnel.com - Seattle, WA
Profit from my two decades of experience

I agree I think open house can be very beneficial in helping creating a "buzz." Serving  Mimosa's I'll be right over. 

 

Good luck!

Jul 11, 2012 10:10 AM #23
Rainmaker
168,373
Stephanie Arnett
Coldwell Banker SRE ~ Starkville, MS - Starkville, MS
SRS, IMSD, Broker Associate, REALTOR

Agreed that Open Houses are still effective.  I always tell my sellers that I will most likely NOT sell their house at an Open House, but that it gets advertised to agents, online, newspapers, etc. :)

Jul 11, 2012 02:22 PM #24
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1,294,316
Erica Ramus
Erica Ramus - Ramus Realty Group - Pottsville, PA - Pottsville, PA
MRE, Schuylkill County PA Real Estate

The sellers like it and expect it but in my area I can tell you that agents don't show up without bribery. I hold broker opens and give everyone who attends a $25 restaurant gift certificate. We have a light buffet sometimes, snacks other times, and sometimes a full course meal. And now we are running a raffle where every open you attend your business card is entered to win an iPad. 

Guess how many agents showed at my last broker open? 3

Pathetic.

Jul 11, 2012 03:04 PM #25
Rainmaker
465,468
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.
Mimosa's certainly help generate a buzz. Until they run out!
Jul 11, 2012 03:36 PM #26
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