Do Open Houses sell homes???

NEW -> Contingent Buyer Assistance Program
It seems the intention is for agents to find buying clients, but I find them valuable for comparing different neighborhoods and finding out what the latest load of hogwash that is being fed to the agents from their monthly or weekly sales meetings. The latest is "Prices have come down. It is a buyers market. But I have noticed a upturn in traffic and offers. If you find a home you like for a good price, you really need to jump on it. The owners are motivated."<p>

Open houses also seem to be useful for gauging the level of desperation in the agents and the sellers. And they are great for making up a wish list. My kids get free cookies.
 
<p>Open house does sell homes with the odd of less than 3%. </p>

<p>While open house is a good way for realtors to meet potential buyers and sellers. The advantage is likewise for potential buyers and sellers to shop for agents if they do not have one.</p>

<p>I am always thankful to my sellers for the open house opportunities.</p>
 
A few things to keep in mind for open houses:





1) Most people looking at an open house are not serious buyers.


2) Your neighbors will be interested in seeing the inside of your house so they can gossip about it.


3) If your house is priced attractively sometimes your neighbors will submit an offer but they are unlikely to actually close on it. If they are really serious be really tough on contract terms particularly do NOT allow them any clauses related to sale of their existing residence.


4) Advertising your open house in a newspaper has almost no effect so save the marketing expense.


5) Agents mention that they do sell some houses based on other agents viewing an open house. Other agents have seen many open houses so make the experience unique for them through food, music, or something to do.


6) If a house attractively priced and in an attractive price point that is a very valuable listing for your realtor. This means that the realtor is likely to get a large number of buyer contacts from your listing and/or open house. I've heard of getting 50 serious buyer contacts from an open house in this category.


7) If you are a realtor trying to make the house prettier during the open house by cutting those loose carpet strands or getting rid of those black streaks on the walls helps both you and the seller. Your there anyways! Many buyers will note that you are making an effort to make the house show better and remember these sorts of things when they choose to list their house for sale.
 
<p>I have put 2 offers on homes I've seen through open houses. </p>

<p>The problem with open houses is the way they are marketed. Many agents don't take advantage of the internet and the tools it offers. Editing the listing description to include information about the open house dramitically increases the number of people who come. </p>

<p>Putting up signs and advertising in the paper is hit and miss. Close to 80% of home buyers do the research online by looking up houses, finding comparables, etc.</p>
 
<p>I've seen that some Realtors are so intent on making the open house an easter egg hunt so that you have to call them to find out an actual address. Some have been visibily suprised when I've been able to piece things together from online information without calling them and shown up to see it 'without warning'.</p>

<p>I realize they are trying very hard to get contact information since you are now a "lead," but it is beyond annoying.</p>

<p>I like attending them because it is possible to see the flavor of houses in a neighborhood without getting dragged around by said annoying agent. No strings attached.</p>

<p>SCHB</p>
 
<p>Brea, Yes...I agree with the scrolling header being added to the online listings..."open house Sunday May 14th", etc.</p>

<p>What I can't stand, it the agent who forgets to remove this scrolling header, and the May open house is still being advertised in July ! Incompetence. </p>

<p> </p>
 
<p>brealiving,</p>

<p><em>The problem with open houses is the way they are marketed. Many agents don't take advantage of the internet and the tools it offers. Editing the listing description to include information about the open house dramitically increases the number of people who come.</em></p>

<p>MLS rules do not allow listing agents to post open house information on the description part, which gets uploaded to public sites.</p>
 
<p>Just wondering what the verbiage preventing open house info in a list was (not an agent, just curious).</p>

<p>I've run across a number of listings with open house info embedded in the listing description. These are agents who have been around for a while.</p>
 
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