Gary King, Real Estate Pro in Knoxville, TN

How do you explain to a seller that an open house is not an effevtive way to sell a house. Can you really sell that in good conscience?

Asked by Gary King, Knoxville, TN Sat Mar 13, 2010

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You never know if you'll get a buyer for one of your Open House showings or not. You just never know. Yes, there are statistics and opinions about what houses don't show well due to location, age, etc., however, if you never have an Open House for a particular property, you'll never know. In my opinion, it's such a small request from the seller that would make them happy and let them know we're trying. At the same time, yes you must be safe and stand firm on not having an open house, preferrably no more than monthly, because the property will get stale.

I will always do an Open House if my sellers wants one. It will make them happy and in return, I will feel that I'm meeting their needs.
0 votes Thank Flag Link Fri Dec 28, 2012
I would suggest listening to your sellers, as I am sure they don't want you to do one every week. There's no harm in appeasing your sellers, even if you haven't had great results with open houses. Once you do one or two, give them the stats on attendence, then go from there. As listing agents, you work for the seller, so you can't in good conscienceness not listen to their ideas.
0 votes Thank Flag Link Wed Oct 3, 2012
Yes you can sell it .The internet has changed the way business is done.Open Houses are just a hit and miss now for the most part.time is better spent on the internet ads
0 votes Thank Flag Link Mon Jun 11, 2012
If 100 people see the house, don't you think that is more likely to produce a better outcome for the seller than 5 -10 people? If you cannot see that, how can you sleep at night recommending otherwise? What do you do on Sunday that is more important than promoting your seller's home? What are they paying you for? You must be fishing for some ideas, right?
0 votes Thank Flag Link Fri May 21, 2010
Well, Gary, if it's true, then why not; if it's not true, then, why be lazy?
0 votes Thank Flag Link Fri May 21, 2010
I think Open Houses are ok for the right houses. Houses that are near a high traffic area. The open house signs should be put out mid week ahead of time. I have sold a couple homes from open houses, not many. I usually take my laptop and catch up on emails or touching base with past clients.

The truth is serious motivated buyers are typically working with an agent and will schedule a showing, not attend an open house. The exception being for new construction neighborhoods.

hope this helps!
0 votes Thank Flag Link Fri May 21, 2010
The reality is that Open Houses are a very inefficient way to market re-sale homes! Not only is the conversion rate very low but there is no control over who enters the home. Unless a customer comes to the Open House with an Agent, the prospects are TOTALLY UNQUALIFIED! In this day and age, one must give some thought to the safety of the home owner’s family as well as that of the Agent holding the Open House. That is why virtual tours have been so successful. With a tour online, the home is “Open” 24/7! The owners don’t have to find something to do for hours at a time, pets are safe, the home is available to many more prospects than could possibly be seen on one Sunday afternoon and the owner doesn’t have to worry about security compromises! Open Houses can be successful, however, in the new construction market where a builder has several homes available in one neighborhood, and, they are a great way for an Agent to find prospects for OTHER homes, but that doesn’t help your Seller, now does it?
0 votes Thank Flag Link Mon Mar 15, 2010
Hi Gary, while the statistics may not be compelling, the fact is we never know exactly how the buyer of a home will be attracted to the property. That is why I include ALL activities to the roster in marketing a home. One thing that is interesting is this - I find that when a home that is open for public open houses sits and sits without selling, the listing agent often will finally concede to having one or two. We all have things to do with our time and carving out 3 - 4 hours for an open house on a Sunday is not always popular, but if there is a chance that the buyer of the home will walk through the door, then "yes" it is the right thing to do. I have no problem selling that to a seller. After all, I have asked him to choose me because I am committing to do everything in my power to sell his/her home.

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0 votes Thank Flag Link Sat Mar 13, 2010
In our area we do open houses because it gives more buyers the opportunity to see the house.Agents can also send their buyers. Some buyers who have already seen it come for a second showing. Yes they sell houses sometimes and I always tell sellers, ; all you need is one buyer.'
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0 votes Thank Flag Link Sat Mar 13, 2010
Gary, open houses can be tracked like much of our business and we can use the data to explain the percentages with sellers. Julia is right, the percentages are very low of actually selling an existing single family home via open house. The best numbers I've seen are about 4%. Some markets and homes have a higher percentage like lakeshore, new construction or foreclosed properties, so make sure you explain some of those other potential outcomes. We all know the open house is primarily for getting new buyers to work with.
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0 votes Thank Flag Link Sat Mar 13, 2010
Gary I can not lie to my clients. On a property that I held open last Sunday people that were working with an agent came in and viewed the property. Theyn came back in for a second showing with their agent. We are currently negotiating a contract.
Will a open house sell EVERY HOME, IN EVERY AREA, EVERY TIME? No but for homes that are in urban or suburban areas that are priced right and show well they can be very helpful.
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0 votes Thank Flag Link Sat Mar 13, 2010
I tell sellers that an open house doesn't yield a buyer for their home in very many cases (anecdotally, I'd say there's about a 1% chance) but that I often pick up a buyer to work with that I can sell another home to. At that point it's their option.
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0 votes Thank Flag Link Sat Mar 13, 2010
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