There are many, many reasons to conduct an open house. My Top 10 List follows. However, there are those who choose not to and that is fine also. In my area of Florida, open houses are well atttended. Be advised, not all homes are open house candidates, choose wisely.
At an open house I can:
1. Observe how attendees go about their home search
2. Inquire regarding the tools they use. It's helpful to know if Z or T is the big dog in your area
3. Get home feedback that differs from typical rea comments of lower the price
4. Connect with attendees regarding any of the five major decision they must make this year
5. Insure the attendee recognizes the value this home represents
6. Distribute the tools needed to propagate information about this home to the tertiary audience.
7. Solidify collaborative relationship with co-hosting party. Don't do an open house alone!
8. This is the most cost effective tool to access the 90 day market (That could be important)
9. Yes, I encourage my buyers to attend open houses and respect other agents relationships. Especially when attendee a comes with agent b who previously looked at this home with agent c.
10. And finishing out the top 10 List is the opportunity to engage the attendees in offering more information regarding their needs and challenges via questionnaires and surveys through which they receive dinner coupons or some other token that will be sent to them. They receive something of value and feel their opinion is valued and solicited. Stay focused on your goals. You would be shocked how many positive responses you will receive to the question, "Are you or anyone you know thinking of selling or purchasing a home this summer?"
The opportunities an open house presents is increadible. However, it is crucial to realize successful open houses look nothing like the open house of 1992. Reset your objectives, establish real measuarable goals, get supporting staff (don't need supporting staff? You don't have the vision yet.), and prepare your messaging system. Then go have a ball!
ReMax Realtec Group
Palm Harbor, FL
727. 320. 4041
I do send clients to open houses. Open houses are usually held on days that the buyers have off and often I cannot escort them. I phone them and ask what they saw and if there was anything that they liked. If they like something I make an appointment for the second viewing.
On the other hand, I have met people who do not have an agent and I will encourage them to work with me to help them find their dream home.
I do find open houses frustrating when there is little activity but, you only need one person to buy it!
Good luck, Jessica
Second, I find them somewhat helpful as far as expanding my sphere, both with buyers and sellers. It has grown my business and I. Tend to close one or two transactions a year from that business.
I have found them to be as successful whether I do 1 our of prep or 10 hours of prep. I find them well worth 4 hours of my time, but not so much worth 12 to 15 hours each week.
Also it is not my job to explain to you what a short sale is or what the market is like...ask your agent. What did the house down the street sell for? Ask your agent.
My answer? If you like the house have your agent put in an offer.
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
I personally do not feel that public open houses are an effective way to sell a home. I much prefer positioning the home properly and driving private showings. However, the great thing about real estate is that there are so many ways to do business and some agents find open houses to be a great tool. To each their own in this department.
Yes -- I send my clients to open houses (and even to brokers' tours) if I am busy an open house myself, or if I have other commitments.)
I don't think open houses are the primary means to sell the house ---because by the time a serious prospective buyer knows about the property, their agent may have already alerted them to the listing and directed them to check it out during open house.
Many buyers who come through open house are already represented by agents. We hold open house hoping we'll get some of them who aren't.
So yes--- open house is an opportunity to get new clients, both buyers and sellers alike. in the last year, 15% of my business was from leads developed from open house.
I hold open houses mainly for the seller, but I've also gotten great business from buyers without agents, as well as neighbors contacting me later about listing their home.
I see it this way...Why not do everything in my power to sell the house and market myself?
The worst that can happen is I catch up on paperwork for the file on a Sunday and the best scenario is a few new leads, additional people in my database and listing appointments.