Luxury home sellers - question regarding open houses

Asked by Jennifer Peterson, Portland, OR Mon Jul 9, 2012

I often find that million dollar sellers prefer not to have their home held open, however, I am seeing this becoming increasingly more popular. Luxury home sellers, would you prefer your Realtor to hold your home open or not when it gets put on the market? Why or why not?

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Kathy Mittelstadt’s answer
Kathy Mittel…, Agent, Hixson, TN
Mon Jul 9, 2012
Most luxury home sellers I have worked with prefer prequalifed buyers with their Realtor to view their homes and I have found are much more private about the sale of their homes and do not welcome open houses for the Sunday afternoon "just looking at houses" people. However, my very first open house was a $1.5 million home and I sold it the next day to a lady who had come into the open house so in this difficult market, you never know opening a luxury home to an open house could work. Another thought is to make sure you hold a broker luncheon so local Realtors can view the home in person.
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Karla Divine,…, Agent, Portland, OR
Mon Jul 9, 2012
In the niche market of floating homes, open houses really help to market the homes and educate buyers. In luxury land homes, open houses open the door to unqualified buyers who just want to look, and unfortunately to an element of opportunists who are checking out the security and contents of the home. As Scott said, qualified buyers who are shopping true luxury homes, prefer an appointment with their Broker so they can focus on the qualities of the home without rush. Both buyer and seller in this market benefit from private showings instead of open houses.
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Scott Godzyk, Agent, Manchester, NH
Mon Jul 9, 2012
Most luxury home owners prefer not to have open houses to keep people who are not quailified from entering their home. Luxury buyers prefer private showings where the focus is on them and they have the full attention of the agent to ask questions and look as they please without being rushed and without people just looking to see the inside of a big home be in the way. There are safety issues involved with luxury homes that are higher than an average home.
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