Response for Patrick Beri...

I'm guessing the thumbs downs are because you absolutely squash the effectiveness of open houses!

My very first Open house, I had a negative attitude, becuase many experienced agents were telling me that Open Houses Don't Work.

I was a little late getting there. There was a young family waiting at the door. They walked through without saying much to me, and left. I had a few lookie-lous, and some curious neighbors stop in after that.

When I took my signs down, and was locking up, the young family came back in and said "we want to write an offer on this house. We've talked to our lender, but we don't have an agent yet."

WOW! Talk about an attitude adjustment for me!

So know, whenever an agent says that any particular method of selling a home doesn't work, I just smile and remember that occasion.

Now, I don't say that an Open House is going to solve this Seller's problem! But I do think that they may need to use every means possible to draw Buyers--

and I do agree with you, if the price isn't correct, NO amount of marketing will sell it.

Price, Condition, and Marketing all have to be in line to sell a home. The agent has control only over the final item.


Best wishes, Linda

Fri Jun 13 2008, 18:38

Why did I get the negative ratings for my answer? They've had 11 showings in 4 months, which is horrible, even for Olympia. Their price is probably too high, plain and simple. Having an open house isn't going to change this, nor is it going to suddenly make someone buy the house, especially given the huge amount of competition in Olympia (and a ton of new construction in Lacey).

I'll say it again--It's priced too high. The original question already addressed presentation and questioned marketing. Yes, marketing is important, but marketing an overpriced home is an exercise in futility.

I don't know anything about your home, but I bet there is some very nice, very well priced competition within about 15 minutes of your house, some of it new construction. (I just sold a house in Lacey--My buyer and I looked at a lot of homes but he finally decided on new construction, because it was cheaper than buying and remodeling an existing home.) Don't just compare your house to others just like it--Think about who your buyers are and compare your house to what else they'd buy instead of your place. Then all you have to do is figure out how to make your house the better choice! Maybe...price?

Sun Jun 8 2008, 00:24

Leave no stone unturned in continuing to improve appearance while it is on market. If you are getting no showings at all...then it's about price. If lots of people are coming; but no offers,then it's about condition or something at the property. Keep tweaking both price and condition until it is sold.

There are no "hidden" properties any more with the internet. Search for property and see if yours comes up. Sometimes there's a glitch, so go to different sites and look as if you are a buyer,not by your mls #, and see how your home presents itself among the competing properties. If you find something that is "off" relatively speaking, then change that.

Sat Jun 7 2008, 22:47

I was just reading through the postings here and there are lots of good information for you. I wanted to stress one suggestion that got quickly overlooked though and has really been effective on giving me the opportunities to follow up with people.

Gary mentioned a 800 number where he can capture numbers to call back...we use this in all of our marketing and it has proven to be very successful. You hire me to sell your home...and if I am not talking to people about your home I am not doing my job. If they called the 800 number...chances are there was at least something small that peaked their interest about your home. If they did not then contact me directly for a showing I have the tools now to contact them back and see what objections they had...then, it is up to me to handle these objections and eventually get your home sold. That's what you pay me to do...

Sorry your home hasn't sold...if you have to sell keep grinding it out and keep on your realtor to consistently and aggressively market your home. Good luck!

Tue May 27 2008, 12:52

Hi D and R -- Short Answer: Prayers and/or a miracle. Think about what you are saying. We are in the worst real estate slump in the last 20 years. The market is flooded with homes (buyer’s market). We have already lost 25% of our Realtor membership (can’t feed their families). Yet, you are asking the remainder of us how to get the job done. If we knew, we would do it. You are not selling and we are NOT getting paid. OK. First, the obvious. This is a PRICE SENSATIVE market. If your home is OVER priced, you are doomed. Real estate is 80% price and 20% marketing – always has always been. If you are “priced right”, you wait. If you can’t wait, you continue to lower your price. Think about it from the BUYERS perspective. Today, they are absolutely convinced that ALL homes are overpriced. THEY are waiting for prices to DROP - they are hovering. Only those who NEED to move are making offers (relatively small % compared to 2005). They are convinced that THEY should get a deal. Would you buy a home you think is overpriced? That is what your LISTING AGENT and YOU are facing, right or wrong.

Different direction: The slowest months in real estate are December, January & February - the HOLIDAYS. So 2 of your 4 months would have been slow anyway, regardless of the status of our economy. Yet MARCH has always been the biggest inventory turnover month (Absorption rate – see p2 in LINK). This year, I would have also recommended you LIST in January – at least by February anyway. You did. That was a good move. So much for taking advantage of getting out there before the crowd. You have had 14 showings in 4 months. Many agents in my office have had homes on the market during the same time period with about the same result, some less. Frustrating. So you say ….”well, they can always make an offer?” If they haven’t yet, they won’t – not in this price sensitive market. Mailing home flyers is almost hopeless – people’s mailboxes are already full.

What can you do? First, is your home priced right? Not $ 50,000 over your agent’s CMA comparables (assuming they did not give you a high price so you would list with them). Assuming price is ok, what about curb appeal? Flowers and grass help street appeal. What about the condition of you home (e.g., paint, clutter). Is it a show place? Is it easy for agents to get in and out of your home (key box + message to show) or is it a struggle (limited hours, all calls through listing agent)? Ease of access – logical. Is the COMMISSION being offered buyer’s agents attractive (85% of all real estate transactions INVOLVE a real estate agent)? We are an “incentive driven” society and 49% of sales come from other agents showing your property. Be nice to other agents. Not hard to see the VALUE in these points.

So, that leaves facilitated VISABILITY. If no one comes into the home to see it, everyone has gone to a lot of work for nothing. You have to overcome that. According to the National Association of Realtors (NAR), 9% of sales come from newspapers and 17% from signage (not JUST the very important yard sign with the flyer box). Now YOU have a problem. You are NOT doing open houses. As you noted, MOST Realtor’s dislike (maybe a better word is HATE) open houses -- it takes their Sundays (family conflicts or loss of the best day to SHOW buyer’s homes). Discounter’s won’t do them. Everyone claims SALES from this effort are dismal. According to NAR surveys, 48% of all buyers walk through open houses? Hmm. But NAR surveys also suggest only 1-3% of sales can be pinned to open houses. Nuts. (Q) Were do these statistics come from? (A) Surveys of Realtors (Hmm) and buyers.

Let’s analyze this 1-3% statistic. Let’s look at what happens during most OPEN HOUSES. First, I place an ad in the paper. I put out 5 + SIGNS directing people to the home. I put a notice of the open house on the listening on the Internet (surveys show that 85% of buyers surf the net for homes (but only 10% of those viewed lead directly to home sale–Nuts). Say later on, the buyer is surveyed. In the buyer’s mind, what did they do? Well, they saw the home on the Internet, went to an open house, followed signs, SAW a great beautifully appointed home they believed to be properly priced, later returned with THEIR agent (at least 49% of all sales) to see the home again, fell in love and purchased the home. Where does the statistic for this sale go? Survey says: “AGENT” was cause of sale. Hmm. Regardless, let’s add this up. 1% + 9% +17% + 10% (37% subtotal) + saw inside of home a second time with agent (49%) for an 86% total. What about the other 14% of potential sales sources (real estate magazines, mailing & lookiloos)? I think you get the point.

So, what can you do to promote the sale of your home? It’s about leveraging visibility-nothing beats the naked eye.

Sat May 24 2008, 13:52

Please don't take offense, but rather than sugarcoat my answer, here it is: Open houses are a waste of time and your home is overpriced.

Fri May 23 2008, 21:47

FEEDBACK FROM THE AGENTS AND CLIENTS WHO HAVE VIEWED THE HOME SHOULD HELP DETERMINE WHAT COULD BE HOLDING YOUR SALE BACK OR GIVE YOU GOOD SUGGESTIONS TO MAKE YOUR HOME MORE APPEALING- SUGGEST YOUR AGENT CONTACT THESE PEOPLE OR HOLD A BROKERS OPEN HOUSE TO GET VALUABLE INPUT.

Fri May 23 2008, 14:05

I agree that effective marketing strategies must focus on the 3 P's. In real estate, as in many other businesses, the 80/20 rule also applies. 80% of the reason homes sell is because of their competitive price, and the other 20% is because of the homes condition, (smells good, lack of clutter, well-maintained, good temperature, staged well, etc.)

I strongly believe that if a home is not selling then it is directly correlated to their price. In some neighborhoods it is challenging to find the right price, this is why there needs to be scheduled priced drops (10K drop after 2-4 weeks, another 5-10K after 60 days, etc.).

Remember this strategy while your home is for sale: “If you are getting showings on your home, you are priced in the ballpark, if you are getting competitive offers in, you are priced correctly. If you are not experiencing either, then you are priced too high.”

Fri May 23 2008, 14:00

I agree with you. There is more to marketing than putting another box of cereal on the shelf. I agree and disagree with your agent. The cynicism regarding open houses is not entirely without merit, but open houses are useful because some of your neighbors will come in. Your agent and you should solicit the help of your neighbors. Additionally, you and your agent should carry a stack of fliers with you everywhere you go, and pass them out to everyone you encounter--even the burger bagger at McD's. It's an amazingly effective way to generate referrals to your home, and prospects for your agent.

When I take listings in rural areas or small towns, I go so far as to post fliers at grocery, hardware, feed stores and the like, and beauty and barber shops.

Also, did you front-load any marketing features into the listing agreement. If the house is priced within the range that first-time buyers are looking, offering seller contributions to buyer costs will help make a listing stand out--and put the bargaining chips on a seller's side of the table at the outset. If you have not yet done this, you may want to consider amending your listing agreement.

Don't get drawn into offering agent incentives. It will just unnecessarily cost you. Most of us ignore them unless they just happen to be part of a listing offer on a home that appeals to our buyers. We love bonuses, but cannot afford to focus on them or depend on them if we are serious about serving our buyers.

Fri May 23 2008, 09:47

I'd like to expand on one more item that has been mentioned and that is getting the most exposure to buyer's agents. Most qualified buyers are going to be working with an agent. Those first-time home buyers who need an agent's expertise to assist them through the process and those buyers that have sold their home, either locally or from outside the area, are are working with an agent because they need to find a home quickly.

So what is another way to get agents into a listing? I belong to an association of 150+ agents and affiliates who meet on a weekly basis and tour each other's listings. Those homes get an average of 20-30 agents through in one morning to see their home, provide feedback to the listing agent and have first hand exposure to all the details of that home for their buyers.

Fri May 23 2008, 09:21

The market has caused successful agents to change their marketing strategies. We have to market creatively and agressively. If you don't want open houses, why not Broker's opens and at least get feedback from other agents. Is your home listed for sale here on Trulia? Is it on Craigslist? Is it listed on your agents personal website? There are so many cool marketing tools at our disposal. Homes are selling. There's a reason yours is not.

Ask your agent what homes in your area have sold since you listed yours. Then evaluate from there. - Good luck.

Thu May 22 2008, 22:22

Boy Don,

I couldn't disagree with you more.

Promotion, creativity and thinking out of the box is how I sell many of my homes. I sold 7 homes at a flea market last year. 7!!!! I have already picked up 4 clients this year doing the same.

All that, from 6 am - noon every Saturday while most people are sleeping in. That is one of MANY of my guerilla style marketing efforts.

This Thursday and Friday, clients who I just listed a home with hired a company to sell everything in their home because they don't want to have to take things with them on their cross country move. I will be sitting at that house both days providing drinks and snacks to shoppers AND selling the home.

Linda Carroll offered some really good ideas too.

Tue May 20 2008, 18:58

D & R,

Time to think outside the box. Have a yard sale, have a bake sale. Heck have both. Send postcards out to the neighbors and invite them in. I had success last summer by posting a number of items on craig's list and having people come to the house to get them. It wasn't my intent to sell the house this way, but my sellers moved out ofc state and left a number of items that needed to go. They gave me the green light and viola.

Tue May 20 2008, 18:25

Hi D&R--here is a cut & paste from an answer I gave before. I hope this helps you out!


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

You can do so much!

Send a link to your listing to everyone in your email address book, and ask them if they know anyone who might be moving to your area.

Take a flyer or postcard with your listing info on it, and knock on your neighbor's doors. Ask them if they would like to choose their new neighbor! Do they have a friend or relative that they would like to see move in? If you don't want to knock on your neighbor's doors yourself, ask your agent to do it.

I once sold a house before I listed it, by knocking on the house next door! It turned out that their best friends wanted to move into their neighborhood. It was one of the smoothest, quickest, transactions I had ever had--and it was in a small town where homes usually sit on the market.

Good Luck! - Sat Mar 22 2008, 16:21 - Yesterday, 21:17


Oh, I thought of more stuff!

Have a business card printed up with the picture of your house, MLS#, and some basic information. Everywhere you go, leave a card. When you leave a tip at the restaurant, leave the card. When you pay for a book or magazine, tell the clerk "by the way, my home is for sale...do you know anyone who might be moving?" Do this with co-workers, friends, relatives, people at gas stations, the golf course, the spa, the barrista at the coffee shop.

A little secret...even though your friends and neighbors know your home is for sale, most of them won't think about who is going to buy it--until you ask them! Many Real Estate agents pay hundreds of dollars to attend seminars to learn that trick. Very few of them ever apply it.

Hang a card or flyer at any and all bulletin boards in your area. Give one to your builder!

Mail flyers or postcards to homes in areas that are about 15% less in value to yours--most people move up about 15% in value when they upscale. Choose a neighborhood of about 30 homes to mail to one week, then mail a few out every week.

Another thing...make sure your home is priced right. Listings expire for 3 reasons--price, condition, and marketing. When all 3 of those factors are in line, you should get showings, and an offer should follow.

Warm wishes & good luck! Let me know how it works for you! - Sat Mar 22 2008, 16:35

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~I hpe these ideas help you to achieve your goals. Let me know if they work for you!

Best wishes, Linda




You are so right that you need the Buyer's agents--ready, willing and able Buyers are working with agents.

Mon May 19 2008, 19:01

Promotion is overrated as an essential for individual single family homes. Promotion is what marketing companies do for big builders on large projects where there is bulk inventory available. For the individual homeowner there is nothing that comes close to the impact of correct pricing and thorough, accurate data in the MLS. The MLS is the source of all online data that is posted out on the web and that's were the future buyers are. The MLS is all that the selling agents use to compare homes for showing, and they control the buyers who are active in the market now. If you've had 11 showings you have all the feedback you need to determine if you price truly is "strong" as you believe. Were did these buyers go? Remember, feedback like "they needed a fourth bedroom" probably means "your price is too high for a 3 bdrm." These days the three most important things in real estate are price, price, and price. Trust your agent. Creativity is not the answer unless you're a builder, and they'll out do you every time. Re-evaluate price. It's continuing to drop every month in most areas.

Mon May 12 2008, 11:48