Home Selling in 73118>Question Details

JKS, Both Buyer and Seller in Oklahoma City, OK

How much stock should a seller put in the feedback from a brokers' open house? The only realtors that showed up were from my realtor's

Asked by JKS, Oklahoma City, OK Tue May 10, 2011

office. No one from other realty agencies showed up; my realtor offered prizes, champagne, and great food. They also got to see a beautiful home! The feedback was really mixed, so I'm more confused than ever. The most negative seemed to address my decor. I've honestly decluttered, cleaned, and staged until I'm blue in the face. I'm wondering if I should even sell my house at this point!

By the way, I appreciate all the feedback I've received from everyone on previous questions! You've all been great to respond and help me in this harrowing process! :)

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Answers

19
Irina Karan’s answer
I disagree with Russell, with all due respect.

I have got some invaluable feedback from my fellow realtors over the years!
Starting from property appearance to property security, to pricing, to marketing listings.
Not to tap into other realtors' expertise would amount to underservicing our clients.
Having other realtors marketing my listings has been great also.
Our real estate board also markets our listings, by the way, if they are "appealing", even making virtual tours for the properties, if there is none on them.

Rejecting home staging as the way to prepare the property for sale is the worst mistake a realtor can make in today's market, where there are still a lot of properties to compete with.
I would listen to the decorative suggestions the open house attending realtors make.
When you sell your car - wouldn't you wash and vacuum it first? Wouldn't you want to get most for your home? Little things like having your window shine and pulling curtain's back, as well as removing some furniture to make the place look more spacious - is not difficult.
I often do this for my clients myself (if they are out of state/country, or it is an estate sale), or my client and I do it together. After the transformation is complete, some sellers don't want to leave - they love and appreciate the new look, and so do the buyers (by paying more for the house).

Buyers got to fall in love with the house they are buying and yes, we should care about that as we need those buyers - to buy the house, after all.

Re. only one brokerage attending - ask your realtor to do another open house with other brokerages attending, but also revisit the overall marketing plan - include blogging, social networking, see how many other real estate sites your property is advertised on. Make sure there is the max of pictures posted in the MLS and other websites (professional grade and lighting)/virtual tour/community tour.

Give yourself a credit for working to prepare the house for sale - you will make more money due to that!

Irina Karan, CDPE - Florida
Beachfront Realty, Inc.
IrinaKaran@gmail.com
1 vote Thank Flag Link Thu Apr 5, 2012
BEST ANSWER
I find that feedback today, whether from an open house or brokers open is mostly worthless. Broker's open are a great way to network, catch up with fellow Realtors and grab a bite to eat and that's about it. You will get some honest comments but not many. I've also found that most agents don't like to leave feedback after they show a house and our MLS will send out an automatic feedback request but those are just about useless as well. I love giving feedback and will always tell it like it is. Whether your house smells or just looks atrocious, I will speak my mind. Now, if your house shows well and really doesn't need improvement that would make much of a difference, I will let then know that as well. Sometimes you just have to be patient and wait for the right buyer to come along. If your home is clean, picked up and organized, then there is not much more you can do other than making sure it's priced right. Staging is just a word made up from those who realize they could make money on people by so called, staging their home. It's your home, not a buyer's home and if they can't realize that, nothing will make them happy, except maybe a new home. I personally think painting and doing minor updates is a lot of fun and helps turn a house into a home. Good Luck again Janice!


Russell Benson, Realtor
Prudential Alliance Realty
0 votes Thank Flag Link Wed May 11, 2011
Feedback only has value when the Realtor offering the feedback has a real working knowledge and understanding of the local market, your community and the style property you're selling.
Web Reference: http://www.golftobeach.com
2 votes Thank Flag Link Wed May 11, 2011
Your husband raised the price & then you lowered it a week later? That sounds like total confusion. If you have a good agent who has success in selling your area, trust them and do what they suggest. Your competition is!
1 vote Thank Flag Link Wed May 11, 2011
I would take stock in it. The Realtors I work with are honest and we try to encourage one another. If they said something needed to be done, I would trust them.
1 vote Thank Flag Link Wed May 11, 2011
Hi JKS
I know how frustrating this must be for you.

I sold my own home a number of years ago, and doing so gave me a different perspective on the process.
Once an agent becomes a seller, you know what it's like for your clients!

OK, so I have a question for you......put aside what the agents said for the moment......has anyone shown the home as yet? If so, what did they say?
The most important feedback is that from a buyer.

If you don't get any showings, and there is activity on similarly priced homes in the area, then you really do need to take another look at your price.

Price trumps everything...............decor.......colors......updates...........there is nothing like a good price reduction to overcome any buyer objections.

Selling in this market isn't for the weak of heart..........you're fortunate if you have the option of remaining where you are!

Best wishes..............
Debbie Rose
Prudential NJ Properties
1 vote Thank Flag Link Tue May 10, 2011
Janice,

To be honest with you 95% of all realtors show up at a brokers open for the free food and giveaways. I have never heard of a realtor selling the home from doing a brokers open. I believe honesty is the best policy and doing a brokers open has great expectations of getting the home visited by several different agents. But I personally call it
1 vote Thank Flag Link Tue May 10, 2011
When we attend brokers open we try to give our honest feedback. Even more so when the Realtor is from our office because we all benefit when an agent sells a home. I think most Realtors would give good feedback. One of the purposes of a brokers opne is to give you unbiased feedback.
Web Reference: http://OKSoldRight.com
1 vote Thank Flag Link Tue May 10, 2011
well, since this 1.5+ year old question was resurrected............JKS, if you're still here reading this - which is doubtful, please let us now if you sold your house!
0 votes Thank Flag Link Mon Jan 28, 2013
I absolutely believe in broker's opens. I am part of a culture in my real estate organization where we truly try to help one another sell the homes we have listed as soon as possible. I respect my colleagues implicitly and urge to give raw, honest advice and opinions on the home. Ultimately, we have to convince our clients to make their homes a neutral pallet so the buyers can visualize themselves making it "their home". They are not buying your decor or specific taste, but the home! Depersonalize, neutralize and employ the resources around you especially if your customer won't listen to you as their professional. If a general consensus is that intensive further changes need to be made, they may listen, make the changes and everyone is happy! The buyer gets a more neutral space that is move in ready and the seller gets their home sold!
0 votes Thank Flag Link Mon Jan 28, 2013
I think you should take stock in the feed back. Remember your broker has a vested interest in getting your home sold in the least amount of time and for the highest price possible. If your broker has a large office, there may have stiil been several realtors at the open house even if they are from the same firm, which means your home got some valuable exposure.


Bset of luck to you.

Kawain Payne, Realtor
0 votes Thank Flag Link Sat Mar 24, 2012
I honestly have no earthly idea what type of joker broker's tout holding open houses and broker's open's these days!

I could understand this as a strategy... back in the 1980's before everybody had the INTERNET and back in the day when Realtors had to wait two weeks for the new "book" of listings to be delivered to the brokerage firm in order to comb through their clients zip code and see the "new" listings that were available over the last two weeks!

In my opinion, brokers opens and open houses are things old timer brokers suggest because it worked so well back in the day, and because that's what "they always did" they keep repeating it to new real estate pros and doing the same thing over and over again when it is proven to be outdated.

You would do soooo much better to set your home up on some kind of virtual tour where anybody in the world can see it without having to drive by the house and even take a look on the inside. Who the hell drives to a house to look at the inside anymore, unless they are really interested? With the price of gas these days? Are you serious?

I have real estate professionals ask me all of the time, "Have you seen the inside of the home?" Well, hell no I haven't... except the pictures you have posted on the internet! Why do I need to drive all the way over to a house just to see it? This is 2012... not 1912.

I'm not trying to be rude or anything, but open houses and broker's opens are a joke. A free lunch is fine and dandy, but if I were a hard working real estate professional, I would be investing that time into making my web presense known online.... that's where the money is!

It's not the gospel truth, just my opinion!

Good luck!
0 votes Thank Flag Link Fri Mar 23, 2012
HI JKS:
You have answers from just about from all four corners of our nation: Most Realtors that show up for a Brokers open are ther for the food and cash drawing, there are a few that actually want to preview the home for a client, that is the only reason I ever go but a Realtor can also set up his or her own preview. Now speaking on your decor, do not let that bother you because when you sell your home it is going with you, Like i tell all my clients, you can paint, most buyer want to paint anyway just to make it theirs, even a NEW HOME,
Talk with your Realtor and if you are not satisfied ask her or him maybe to chage a few things and if they won't ask why, it is our job to sell your home in a timely fashion, keep you happy with the whole ordeal,

Thank You
0 votes Thank Flag Link Wed May 11, 2011
No offense was taken. I was just asking you questions to see if you had thought of the things I was asking. I don't know what others said. Each of us tried to give you honest feedback. Hope you sell your home soon. I love the neighborhood. Communication between the seller and their realtor is very important. Our office sells more homes by double any other office in the northwest Oklahoma City area. We support each other and are always available to assist each other in getting homes sold. No matter what we do, sometimes the offers just do not come as quickly as we all want. We all sincerely want your home to sell. As we get feedback, we share it with our sellers. Sometimes it is easier to get feedback from our office than from other offices. You will also get feedback from possible buyers viewing your home. It is important to not take it personally. As I said before, making your home as neutral as possible will make it easier for buyers to see themselves living there. And that is what you want ultimately, to have them living there. Again, I sincerely wish you good luck.
0 votes Thank Flag Link Tue May 10, 2011
In response to Carolyn: Yes, I have asked her questions. Yes, I have followed her staging suggestions. My husband decided to raise the price, but I lowered it a week later to follow my realtor's suggested price, based on her market analysis of our neighborhood and what our house had to offer.

I meant no offense to my realtor or your office in asking questions about one of the most important decisions in my life, anymore than I would be offended if one of my students sought outside help on a class assignment.

Thank you for your interest.
0 votes Thank Flag Link Tue May 10, 2011
Your agent had good support from her office. I attended the brokers' open. We give feedback that we hope is constructive to help you get your home sold. Even though agents are invited from other offices, sometimes they do not attend. Your realtor asked other realtors with listings in the neighborhood to join in this open and they did not take the initiative to do so. You seem to want the advice of many realtors. Do you trust your realtor? If you have questions, I hope you are asking her. She will be honest with you. Did you price your home the way she suggested? Have you staged your home the way she asked you to? When you put a sign your your yard to sell your home, you become a guest in your own home. The more neutral you can make your home, the more buyers can see themselves living there. Good luck.
0 votes Thank Flag Link Tue May 10, 2011
Hi Janice,
Well normally agents from brokerages all over will attend a brokers open..so that's strange. I would advise you not to take any comments personally. We all have our own style and Im sure your decorating is lovely. The problem is that buyers always want to see "themselves" in the home. and that is hard to do when it looks so much like "Us".
0 votes Thank Flag Link Tue May 10, 2011
It depends. I try to give honest feedback at opens. Usually, what is reported is what really needs attention. I do not like to waste my time writing feedback if it will not help sell a home. No one wants to read a feedback novel. Sellers have a sense that is what is pointed out is what needs attention or not. Most of the time it is nothing new.

Karen Moseley
EXIT
650-3548
0 votes Thank Flag Link Tue May 10, 2011
Do not put any stock into feed back from a brokers open:
0 votes Thank Flag Link Tue May 10, 2011
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