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Mr.P, Other/Just Looking in Arizona

Any new ideas for Open Houses or are the buyers all online???

Asked by Mr.P, Arizona Sat Jul 21, 2007

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It's always been hit and miss, don't ask me why. I do them mostly to appease the clients but on occasion they do result in a sale. Buyers are more likely to present an offer today because they know more about the house when they walk in. Many times they are already decided and just want to verify in person the house is as nice as the pictures. Buyers could just set an appointment to see a home but some feel that a relentless agent will talk them into buying it. Bottom line, they're a pain but it's part of the job. I work mostly with buyers so I don't do them too often.
0 votes Thank Flag Link Sun Jul 22, 2007
According to the CAR research, in California, 90% of buyers spend 4 to 6 weeks on Internet selecting agents and searching for homes. Once they do their research they want to see houses, either themselves or with agents. So, even if Open Houses rarely bring buyers, they as important as always or even more than before. One thing you might want to do, you might want to distribute CDs with house information in lieu of flyers.

And check Active Rain website http://(www.activerain.com). There is a plenty of great ideas there.
Web Reference: http://www.cimpler.com
3 votes Thank Flag Link Sun Jul 22, 2007
ARTUR URBANS…, Real Estate Pro in Burlingame, CA
MVP'08
Contact
Open houses aren't the best tool for selling a home, but in a slow moving market, it can provide an added incentive for the buyer who was "thinking" about looking at the property.

In a sellers market, buyers have a sense of urgency and call to make an appt right away. In a buyers market, that sense of urgency is gone, and one has the thought that they will see it next week, or the next. An open house might encourage those buyers to see the property.

If I am going to do an open house, I try to do some pre planning and marketing. Our MLS provides us a reverse prospect data base. Cooperating agents can register their buyers under the agent name. I email the agents who have buyers for the property, as well as reach out to agents who are active in the market with similar lisitngs of their own.

While most OH visitors do no purchase the OH property, it does happen. OH is not on the top of my list for best ways to find a buyer.

Deborah Madey - Broker
Peninsula Realty Group, Inc.
Deborah@PeninsulaFirst.com
Web Reference: http://PeninsulaFirst.com
1 vote Thank Flag Link Sun Jul 22, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
Open houses are a strange animal. In 8 years, I have yet to produce my own buyer for the house I am holding open. However, I have had buyers working with agents come through and buy the house. I currently have a listing in McCormick Ranch (Scottsdale AZ) where the sellers purchased a home in another community directly from the listing agent (before they met me). They bought it off an open house, and this was after the property had been on the market for nearly a year. I also feel that the neighbors who will come through an open house are great because they won't make a specific appointment. Most just pop in to snoop, but they are an additional sales force for their friends and relatives. It's not the best tool, and it is certainly not the most targeted way to market a property, but they're worth doing if you are in an area that pulls decent traffic. Has to be the weekend in most cases, though. Weekdays are a complete waste of time in my experience. I seldom personally hold open houses anymore because I am usually working with buyers on the weekends, but I have associates hold my listings open.
Web Reference: http://RayandPaul.com
1 vote Thank Flag Link Sun Jul 22, 2007
I sold my last house through an open house to a person living in the same subdivision - but renting and wanting to own. Never say never! We must use all tools available to us - and an open house with the right buzz can bring a buyer.
0 votes Thank Flag Link Sun Jul 22, 2007
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