544,014
Yes, sometimes offers come in before the buyers even see it.
-
Michael Jacobs
Pasadena, CA
-
Lyn Sims
Schaumburg, IL
-
Nina Hollander, Broker
Charlotte, NC
716,452
That is a strategy some sellers are using - priced under market and then getting multiple offers which raise the price over asking. I suggest price it to sell at market right from the start. This should eliminate some of the bidding frenzy which can create hard feelings for those who lose out.
-
Teri Pacitto
Westlake Village, CA
-
Michael Jacobs
Pasadena, CA
3,350,289
No.
Because an offer deadline is set and most of my sellers will not consider preemptive offers.
-
John Juarez
Fremont, CA
-
Michael Jacobs
Pasadena, CA
1,847,471
Who gives a ---- about an open house. Put it on the market using the MLS & sell the sucker.
-
Eve Alexander
Tampa, FL
-
Anita Clark
Warner Robins, GA
5,243,218
I do not do open houses but proper pricing draws significant inquiries.
-
Michael Jacobs
Pasadena, CA
-
Lyn Sims
Schaumburg, IL
921,504
"A bit below current market value.."
No, the buyer is typically unaware of what a 'bit below' means. Is that the difference between the cost of the original tub and the free standing tub?
However, 10% is noticeable in a $500,000 community.
Initial offering below market value is a good strategy for a quick sale. After all, PRICE is what compresses the time to sell.
If the seller agrees to 'sell at first open house,' and has enabled the agent, then that should be the 1st open house purpose. Agent needs to implement accordingly.
-
Michael Jacobs
Pasadena, CA
-
Lyn Sims
Schaumburg, IL
3,627,272
Not only a bid, but a bidding war.
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
5,256,911
Right on the money or a teeny smidgen below is what I am seeing here too, Praful.
-
Michael Jacobs
Pasadena, CA
-
Kathleen Daniels, Prob...
San Jose, CA
1,525,616
Our market is more driven by the price range.
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
766,569
I don't see the open house as the key selling tool, the MLS should get it sold immediately though.
-
Michael Jacobs
Pasadena, CA
1,153,794
No, I expect it to Sell the day it hits the MLS. The heck with open houses if it's priced "too" well.
-
Michael Jacobs
Pasadena, CA
1,506,613
5,772,593
2,189,267
The agent I sent a referral out to recently did just that. Placed it a bit under market to get bids. They accepted offers for 3 days and it was bid up about 5%.
-
Michael Jacobs
Pasadena, CA
2,684,769
A good house priced significantly below market (not just a "bit") will bring offers when it hits the MLS.
-
Michael Jacobs
Pasadena, CA
2,163,333
It wouldn't even make it to the open house date.
-
Michael Jacobs
Pasadena, CA
1,728,556
3,416,038
I try to void an open house and set up showings on day 1. Buyers bring more buyers AND Offers bring more offers
-
Michael Jacobs
Pasadena, CA
577,750
After listing a property when the market is hot, I delay offers by 3-4 days, and have an open house in this time period. This will hopefully result in more than one offer and me doing my job for my client trying to get them the best price possible.
-
Michael Jacobs
Pasadena, CA
5,583,328
When priced in the fair market range, we get offers at the open house....
-
Michael Jacobs
Pasadena, CA
672,970
Agree we are seeing a similar trend in our area. In fact, we often end up with multiple offers before we have the first open house.
-
Michael Jacobs
Pasadena, CA
3,071,489
2,785,156
I always come out at market or below. Phones ring, showings abound=sold!
-
Michael Jacobs
Pasadena, CA
1,202,247
Pricing is an art and there is some strategy involved
-
Michael Jacobs
Pasadena, CA
7,869,077
In our area, there is no need to wait for an open house.
-
Michael Jacobs
Pasadena, CA
4,800,132
I would, depending on the home and location.
-
Michael Jacobs
Pasadena, CA
913,818
If priced a little low, demand will usually drive price back up. Many agents can spot this strategy, and will advise their buyers to write an offer above the listing price.
-
Michael Jacobs
Pasadena, CA
259,317
5,115,152
I don't do open houses, especially in a hot market. Frankly, no need to price below current market value... just price it right and the traffic and offers will come in when home is properly staged and marketed.
-
Michael Jacobs
Pasadena, CA
1,554,227
1,712,876
Not sure that the open house has anything to do with that. With a shortage of inventory good REALTORS® check the MLS at least 3 times a day.
5,878,935
If priced at fair market value, I do expect multiple offers to come in within hours of listing.
1,325,114
Our market is mostly multiple offers. To better manage the offers, we state an offer deadline in the mls for all agents to heed and we do not take preemptive offers. Of course, this is by agreement with our sellers.
1,624,953
4,434,177
716,529
3,986,308
3,988,013
Homes priced right are selling before they have an open house. I haven't done one in months.
6,422,118
74,695
2,463,940
What is this open house thing you speak of? ;-)
I am in an extreme sellers market...many homes gets a flood of first day visits and multiple offers.
I encourage all my sellers to market price their homes, not overextend or undervalue the property.
4,583,484
Each property listing and each seller is unique/ different. Each situation has a specific plan.