Home Selling in 28277>Question Details

Elissa, Home Seller in New Fairfield, CT

I am trying to sell my townhome in South Charlotte. What's your opinion on open houses? Do you think they?

Asked by Elissa, New Fairfield, CT Tue Apr 15, 2008

are really valuable and do you get actual buyers? My agent feels that it is only a good way for the agents to meet the buyers

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Homes usually do not sell at open houses, and yes, it is a good place to pick up buyers. But my perspective is that you never know -- in this market any exposure is good. Sometimes people will walk through and may know somebody that would purchase your home. I think we should be using all avenues to market and sell listings.
2 votes Thank Flag Link Tue Apr 15, 2008
Elissa,
You very rarely get a buyer from an open house. If you want to open your home have your agent do an agent's open house and cater it. This brings in buyers agents and you are trying to get their attention so that you get them to see why your home is better then the others in the area.
1 vote Thank Flag Link Tue Apr 15, 2008
I recently did an Open House on one of my listings and was able to put the Townhouse under contract a couple of days later. The Buyer came with their agent to the event and it was a great opportunity for me to point out the highlights of the property.
0 votes Thank Flag Link Thu Jul 17, 2014
This is an old question, so why is it showing up today 2/17/14?
0 votes Thank Flag Link Thu Feb 27, 2014
I love doing open houses for all my listings and believe they help.

I'm not sure if you contacted anyone or if you are working with an agent yet. If you have not signed with an agent yet you should. You can go to NCREC and they have a section that shows having your home listed with a broker sells your home quicker and for more profit!! Having a broker with great negotiating skills is a must. Please feel free to call me to help you get the RIGHT house for the RIGHT price!!

Thank you again for this opportunity to serve you, I realize you have a choice of Real Estate Brokers, so I truly appreciate your business.

Your dedicated Real Estate Broker,

Janice Maynard
Broker/REALTOR, Serving NC and SC
Keller Williams Ballantyne
704-641-0626 Cell/Text
http://www.unioncountyhomes4sale.com
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0 votes Thank Flag Link Thu Feb 27, 2014
Hi Elissa!
Happy New Year! Have you sold your townhome in S. Charlotte? If you have congratulations! If not i'm happy to assist you in listing and selling it.
Please feel free to call me at 704 430 7811 to discuss.

Madalene
0 votes Thank Flag Link Mon Jan 13, 2014
Your home is getting the best exposure possible when you have it listed with a good agent who has it in the MLS, Trulia, Zillow, etc. I have sold homes in North Carolina and California and have never had a home sell because of an open house. The majority of people who look at it are curious neighbors who want to pick your brain about how much their house is worth. Agents do open houses to try to pick up buyers, and to appease their client (the seller), but they usually aren't worth the time.
0 votes Thank Flag Link Mon Oct 21, 2013
Hello Elissa,

In my opinion open houses do not necessarily bring a buyer. However, it has been my experience on two occasions that I have actually sold a home at the first open house I held for a property! Ask your agent how she is marketing prior to the open house. I'm sure they are doing what needs to be done to showcase your home! Good luck!
0 votes Thank Flag Link Wed Oct 16, 2013
Thanks Annette! I wish Trulia would put forth effort in eliminating dated questions from their database. I typically make a point to look at the date of questions....guess I missed this one.

Thanks so much and I appreciate the reminder.
0 votes Thank Flag Link Thu Jul 25, 2013
This question was asked April 15, 2008. One can, with confidence, know Elissa has long ago moved on.
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0 votes Thank Flag Link Thu Jul 25, 2013
It is true - open houses bring prospects who may not be even qualified, or the neighbors who come in to say that their house is better, or people who will buy in the future, but come in to see what's out there now...If the prospects are agent-less, and they want the community the house is in, they might want to work with the listing agent who is holding the open house.

On the other hand, broker open houses are pretty good - to get the word out, to double check if the price is ok, to inspire agents to call their clients because the house shows better than they thought from the pictures, and some brokers do bring their buyers along - which could make it work.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Thu Jul 25, 2013
No doubt that I highly agree with your agent.

I haven't held an open house in years regarding any of my listed properties. Early in my career I completed a few open houses and in return gained lots of buyer leads. None of the buyers were interested in purchasing a house through an open house...just "looky loos" and neighbors comparing home upgrades. Most importantly, safety of the agent and the seller's assets may be jeopardized when you invite anyone off the street in to your home. There is no way an individual agent can manage multiple traffic in your home when folks are roaming from room to room.

Serious buyers and their agents will make a private appointment to see a property they are contemplating buying...always. Good luck to you!
0 votes Thank Flag Link Thu Jul 25, 2013
Depends on the property and where it is located and how it is priced. In my office several agents have had offers and sold during an open house and others have not.
0 votes Thank Flag Link Wed Jul 24, 2013
Dear Elissa,

For the most part I agree with your agent. Now I have found that if there are other units in the area that are for sale and all of the agents advertise together that people can come and see several units during the same time period, this seems to help. I have gotten a lot more activity on that type of Open House.

Most other open houses that I have done I have spent hours sitting in an empty home trying to stay awake. On the other hand, I did write one offer at an open house, so it can happen.

Good Luck.

Have a blessed day
Sara Rich
0 votes Thank Flag Link Wed Jul 22, 2009
Elissa,
The probability is low. Instead, you should see about having a 9 day bid sale and offering the property at a low price and have it bid up. You will get a lot more traffic. Just make sure that you run it like eBay does (ie no counteroffers) so you don't violate not having an auctioneers license. This is a creative way to sell in this market.

Hope this gives you another perspective.
Mike
0 votes Thank Flag Link Wed Jul 22, 2009
Elissa,

We had 4 agents in my office in the past year find buyers for the homes they were hosting at open houses. I hosted an open house and some visitors ended up buying it (they had their own agent). The more traffic in your home, the greater your chances are to sell it. Even curious neighbors may know someone who knows someone.... I host open houses often - some have traffic and others not. Now that the holidays and football season is over, I would encourage your agent to host an open house or recruit a fellow realtor to host one.

Good luck!
Terri Flaglor
0 votes Thank Flag Link Tue Feb 3, 2009
Low probability maybe, but buyers do go to open houses. I don't expect food or anything either, just make sure it's in the paper and you have good signage.
0 votes Thank Flag Link Wed Sep 3, 2008
Its hard to have a good turn out on an open house when you have 31,000 other houses on the market to compete with. Open houses are only good for real estate agents looking to pick up more client or buyers shall i say. they use buyers from open houses to drive them around to other properties, so your house is only a lead generator. sad but true.
0 votes Thank Flag Link Wed Sep 3, 2008
Depends on if your are on a highly traffic area. We just sold a listing through an open house but it was off 521.
0 votes Thank Flag Link Thu Jun 5, 2008
Dear Elissa,

I agree with your agent that it is usually just a way that agents pick up more buyers. I must admit though that in one of my open houses, I did take a contract on the house. It happens. The biggest advantage to you is that you may have more people see you house. Of course, they may be neighbors, but that is not always bad. Bottom line, I seldom do open houses.

The best way to sell a house is to know the immediate area (1 sq mile or your complex) market and price your house according.y. Over pricing your home usually hurts you in the long run.
0 votes Thank Flag Link Tue Apr 15, 2008
I think open houses can be over done. As a rule open houses do not sell houses, and the reason most agents hold them are to pick up buyers. if you are going to do an open house then it needs to be something special to draw in the traffic, such as price change, "make an offer day", just remodeled, something that will set it apart. I feel if you hold it open too many times the property becomes shopworn.
0 votes Thank Flag Link Tue Apr 15, 2008
We hold open houses for homes that aren't getting much traffic or showings. If a property is already getting a lot of folks through it, then there really isn't much of a need, but one that isn't getting many people to look it is a good way to at least try and get a casual "shopper" or folks that are just interested in looking. You never know who might see the home and tell someone else about it. Rarely do we sell homes from the open house, but I have sold a condo to a buyer who's friend saw it over the weekend and called them about it - -they scheduled a showing with their agent the next week.
0 votes Thank Flag Link Tue Apr 15, 2008
Elissa
You profile says that you are a real estate pro. Yet you have an agent? confusing.
A CAR study shows that the buyer that purchases the home first sees it with a Realtor 90% of the time.. I see no stats on open houses.
So if you have not receiving showings, that means that the Realtors are showing other properties.
No offers, same reason.
Buyers want value!
Homes that sell in the first 30 days sell closest to asking price, so for many reasons, price it right, and tet it sold. Don't play the waiting game.
0 votes Thank Flag Link Tue Apr 15, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
While it has happened in the past, the overall facts show that a buyer has found the home they actually bought less then 1% of the time from an open house. Have your agent cater to other agents and hold agent open houses. Those agents have the ready to buy and qualified buyers. You usually get people who are thinking of buying in the next year or two or people that come to open houses to see what they can do to thier home to make it worth more. New agents hold many opens to get thier name out there and meet the public.
0 votes Thank Flag Link Tue Apr 15, 2008
I know a new agent and the first open house that she did, she sold the house from someone driving by. While this is uncommon, it does happen.

Most of the time, it is just to meet buyers but you never know. It only takes one person.

Good Luck!
0 votes Thank Flag Link Tue Apr 15, 2008
An unadvertised open house with signage installed just prior to the event is a poor way to sell a home. However, advertised well and they can be a very good tool (and that advertsing is expensive and that's why most downplay open houses). More important is a strong internet presense since 85% of buyers are looking online for their home and in our area, sales year over year are down around 50% (volume not prices). So its absolutely critical that your home is all over the sites they're exploring (realtor.com, trulia, google. yahoo, aol, etc), the pictures must be good, with a good description. Offline advertising is key as well but it doesn't come close to the numbers generated by the internet.

A good rule of thumb for homes easily found on the internet is that buyers, when searching on the computer for a home, are looking for any reason NOT to inquire further on your home. You need to make sure that poor marketing isn't getting in the way of a potental sale.
0 votes Thank Flag Link Tue Apr 15, 2008
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