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We hold open houses in The Villages seven days a week, and properties often sell with this approach. Granted, our market is primarily over-55 (the largest community of its type in the country), and people tend to wander through open houses. Before you know it, they are in love with the home, and they want to sell their existing home and purchase the one we have open. Another unique thing about our market is that we have many month-long renters who fall in love with the community and decide to buy. Just more proof that "All Real Estate is Local!"
Flower Mound, TX
Overall not so much. But there are pocket neighborhoods that are in high demand that do bring in the buyers. So lesson is, select your open house carefully.
Flower Mound, TX
We rarely do them, and only if thr Seller absoulutely wants one. The crowds don't appear like they do on TV!
I may be missing the boat but I have not held an Open House in 10 years.
You can not use the 1980s open house to sell 'that' home.
However, if the seller is committed to selling their house, AND they have committed to a realistic price for which they will sell it (does not need to be the list price), the open house can get the house sold.
However, SELLING THE HOUSE must be the goal of the open house.
Here's the problem. Over 90 % of AR agents revealed they do not know how to sell a house. They rely on the MLS and buyers agents to get homes sold.
Consequently, for the overwhelming majority. an open house is not worthwile for the seller because the talent to get the job done is not present.
I am currently working on the FIVE GOALS OF AN OPEN HOUSE, one of with is 'Selling the house' that will be available for the 10% of agents who indicated they know how to sell WITHOUT complete reliance on the MLS.
Conclusion: a putter is a useful driving the ball off the tee as the TYPICAL open house and agent is to selling a house.
Flower Mound, TX
I have not found them a great tool in my area. I sense that often agents just hold them when a house isn't selling and they want to show their seller they are doing something to get it sold.
Yes, I have sold many to folks who visited the open house.
For some homes, yes.
Seller? No. Agent? Sometimes
Hi Russ - it's typically a part of my overall marketing strategy.
Not in my sizzling hot seller's market.
I think open houses are hit and miss in my area. I went to three open houses this weekend. Saturday was very busy lots of foot traffic. Sunday it was almost dead. I think if you are going to do an open house, make sure to spread the word!
Our listings are usually selling so fast, there is no time for an Open House and many Sellers do not want them, having read enough about how seldom the house is sold this way. I do think they are great for attracting buyers and possibly other sellers if promoted properly.
I am a absolute believer in Open Houses!! Although I list very few houses at this stage in my career...if I do...holding Open Houses is a main priority. I feel bad for those who do not have luck at holding homes open as there is definitely new business and customers there plus excellent opportunities to sell the listing.
Not usually...YET there are a few homes I've sold over the years that WERE from buyers who came to the open house. So...I always do at least one open house to determine to see whether there is much traffic. If so, I will do it again!
I live in an area that is a private lake development with limited access. This makes it unproductive to hold open house events. That is unless, you want to get to know the neighbors.
Yes. Case in point: a woman stopped by an open house--saw the signs--fell in love with the house and bought it. She had told her real estate agent she wanted a 3-bedroom, and never would have seen this 2-bedroom plus sun room had it not been for that open. (I later sold the house again and helped her move to a large view home.)
We don't usually do open houses here. We do Realtor's Open house and agents can bring their clients. Lunch or some have door prizes.
In our metro area, there are sections that work for open houses....but here in the sunshine there is so much outside activity happening continuously that it is hard to get traffic...in 14 yrs. my team has "sold" 3 homes that can be tracked to open houses.
I have not done one in about 3 years. Safety and return on investment is not worth it.
Our open houses are limited to early market entry and that seems to get the
most attendance...on line is the best visibility.
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239 - our area, open houses are surely popular! Helps me as buyer's agent to handle many buyers at the same time as I request my buyers to visit the homes at open house (many of them have first showing at open house - and is gone in no time!)
I do visit the homes that my buyers are interested in again with them. So, I am not all that lazy....
Not really. If we hold an open house, you are lucky if you get one person in there. If you get three people it's pretty much a success.
Open houses don't work in my area. I don't know why, but they just don't.
That is an interesting question that I can have a multitude of answers. I have done open houses where I haven't seen a single person and there was even a lack of crickets.
On the other hand; I have had other open houses where I've been busy the whole time and found a buyer for my sellers property and three more buyer prospects to work with.
Open houses don't work that well in my market, which is mostly second homes and investment properties...
The Outer Banks is a resort community, where the population swells during the summer months as hundreds of thousands come to vacation with their families. During the one or two weeks they are here, most vacationers don't want to slog through an open house with their children in tow. They would rather be at the beach, or visiting one of the local attractions.
During the winter months, virtually no one is here! And the weather can be dreadful, with long last nor-easters bringing foul weather for days on end. Who wants to go out in that kind of miserable weather to attend an open house?
Yes. Sometimes they are worth it.
In our seasonal second-home market, open houses do not appear to work well. We hold an open when the seller requests it, but the results haven't matched the effort.
Larry, I do open houses and do them well, for the theatrical affect of the seller.....they expect that as part of your marketing duties. We have a lot of "gated communities" in Florida making it difficult to have showings. I would agree with some of the statistics on open houses.. 3% -5% of sales are due to open houses.
I should have said in my answer that I also do actually sell houses from my open houses-
I love doing open houses for the right homes- ones that attract young professionals - first time homebuyers - I get lots of business from those open houses
Not usually, but it depends on area/location, price, etc. So it's case by case really.