Open houses, do they work?

By
Real Estate Broker with Coldwell Banker

They have for me!

A few minutes ago I was answering that blog question and I felt my answer was informational enough to post.

 I  sold 2 houses last year  at my own open houses.  One of them, was a lovely home and the seller called 10 min before I was leaving and we had had no lookers. Five minutes later she was knocking at the back door.  I didn't answer so she banged louder. I excused myself from the people looking at the house and let her in and told her I had a customer there.They bought the house.

 I had another house that was well priced and it sold to a lawyer and her husband from an open house.  Another open house brought a client that I am working with now that I expect to sign a contract in the next few days.

In our area it isn't unusual to get 5-10 couples coming to an open house.  they say 3% of the buyers nationally buy from open houses (I forget where that statistic came from, it was a few years ago). Doing the math on that you should get 1 buyer from every 7 open houses roughly.

I even had a seller come to an open house in the area where their house was, I did a CMA on their house and listed it and it sold, and they were going to FSBO before they met me and we talked.

I would never have an open house every week on a property, that makes either the seller or the agent look desperate.

I put the ad in the 2 major newspapers and put up signs. My last open house I also posted on Active Rain

They have been very effective for me for both selling homes and getting new buyers.

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Comments 53 New Comment

Anonymous
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Rainmaker
223,305
Lake County Home Pros
Homes for Sale Mount Dora Realtor
CB Camelot Realty / Lake County Home Pros 352-636-6579

I hope you get a few more leads in the neighborhood!!

June 10, 2008 11:51 AM
Rainmaker
126,084
Kevin O'Shea
White Plains, NY Real Estate
Coldwell Banker
Thanks Karen & Ray
June 10, 2008 02:30 PM
Rainer
20,851
Lisa Southern
Lisa Southern Real Estate
Keller Williams

I think the reason you do so well at open houses is your positive attitude. I have had the same encouraging results when I have open houses. Bring 'em on!

I'll be reading you,

Lisa

June 10, 2008 11:35 PM
Rainer
22,517
Pedro Gonzalez
USA HOME SOLUTIONS

They sure do work, I am doing one today and looking foward for the great response. Even if you don't have listings you can always do an open house from a friend,co-worker or your office.

June 14, 2008 10:40 AM
Rainmaker
126,084
Kevin O'Shea
White Plains, NY Real Estate
Coldwell Banker

Good luck with yours ERA

June 14, 2008 11:55 AM
Anonymous
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Rainmaker
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Kevin O'Shea

White Plains, NY Real Estate
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