Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am interested to hear from agents about what innovative methods they have used to get potential buyers through the doors of open houses. Also, what successes have you seen (if any) from holiding open houses? Finally, has the advent of the information age (e.g., access to all sorts of property data online) improved your opportunities for actually sales resulting from open houses because more people (Gen Xers and Yers) are doing research themselves and showing up at open houses unrepresented? As access to information becomes more and more easily accessible, I am interested in taking advantage of every opportunity to take hold of the next generation of homebuyers. Any thoughts?
Since I'm a "Gen Xer", I'll respond to the OP. Figure out a way to do a "virtual open house", where a home buyer can view a GOOD QUALITY virtual tour and photos, and maybe even have a "live chat" between the selling agent and the potential buyers if they have questions about particular rooms or aspects of the house. The agent wouldn't have to be AT the home for sale, they could do it from the comfort of their home office at preset times. Having the buyer be a bit anonymous may also illicit some real feedback, much like what sellers get here. Once the buyer has narrowed down their choices online, then the realtor can offer to set up a real tour.
I don't really think a realtor wants to waste their time and money sitting at an open house just to "look good" for a seller. We, as realtors, must do everything in our power to try to sell a home for a seller. The costs are high for us also. We do not get paid until the sale closes, therefore, the expense of advertising, our time, etc. is out of our pockets until that house sells and closes. We do not get paid hourly-it is commission only. We work very hard. We also must go through school, training, continuing education courses yearly,pay dues, etc. not to mention all of the legalities that could land us fined or imprisoned-so yes-we are trying to sell that house-by an open house or whatever means necessary that is ethical. Not only for ourselves-but for all people that have the right to own a peace of land. I don't mean to tell anyone off here, but I am a little tired of people forming an opinion when they do not have all of the facts. Yes-there are "bad" realtors out there, but not all of us are bad!
Open Houses are a waste in my area...Raleigh, Cary, Johnston County because we are very limited on signage. Cary and Raleigh no longer allow directionals, so the only way to advertise your Open House is on the websites and Saturday's real esate ads. But the real reason Open Houses are a waste is that buyers have gotten so lazy that they want to just sit at the computer, find houses they like and then take a look at those houses.
However, I like to keep my sellers happy so if they want an Open House, they'll get an Open House. More than likely, one of the new agents will do the Open House in hopes of getting a lead.
YEARS ago...I sold my own listing through an Open House but that was back in the early '90s before we had so much on the internet. Back then, I used to get 8 to 10 couples, looking at Open Houses on a Sunday. I'd end up with 2 good buyers from each Open House.
But the real reason Open Houses are a waste is that buyers have gotten so lazy that they want to just sit at the computer, find houses they like and then take a look at those houses.
Is that laziness? Or efficiency? I think the ones who are lazy (or cheap, or clueless) are the agents who don't bother to put lots good pictures or virtual tours on their listings. A great virtual tour can serve as an excellent alternative to an open house and many more people will see it that way. My virtual tours can get hundreds of showings in a day.
I do open houses, but I do see it as more exposure for myself and my company rather than to sell that particular house. I have sold a house from the open house once, but usually it doesn't happen. Sometimes I pick up great buyers, sometimes nobody comes. I figure that at least the neighbors are seeing that I am a hard worker, and I get 2 hours of quiet to read a good book, get work done, call my mom, or whatever.
How to make it better? That I have no clue about. I have heard of an agent giving out ice cream, because then the buyers will have to go home... but the trick is to get them there in the first place.
What about the "Twilight Open House" I read about in Realtor magazine, anyone tried that?
I don't really think a realtor wants to waste their time and money sitting at an open house just to "look good" for a seller. We, as realtors, must do everything in our power to try to sell a home for a seller. The costs are high for us also. We do not get paid until the sale closes, therefore, the expense of advertising, our time, etc. is out of our pockets until that house sells and closes. We do not get paid hourly-it is commission only. We work very hard. We also must go through school, training, continuing education courses yearly,pay dues, etc. not to mention all of the legalities that could land us fined or imprisoned-so yes-we are trying to sell that house-by an open house or whatever means necessary that is ethical. Not only for ourselves-but for all people that have the right to own a peace of land. I don't mean to tell anyone off here, but I am a little tired of people forming an opinion when they do not have all of the facts. Yes-there are "bad" realtors out there, but not all of us are bad!
I am seriously thinking of doing a local bank owned/foreclosure tour.
1. Divide the town into sections.
2. Advertise
3. Offer carrot
4. Distribute list to all, put up signs
5. Hold house open for 2 hours
6. Evaluate results.
The so-called generation X represents what followed the baby boom. The front end of the baby boom will turn 65, in 2011. The front end of generation X, will turn 45.
It's unlikely that 40 somethings are going to be comfortable with a 22 year old real estate agent, when they can use a mature agent with hundreds- thousands of transactions under their belt.
Perhaps what we are really talking about is the so-called generation y.... with birth years, begining in the late 70-early 80's.
Those in this age group often seem to relate better to someone younger, regardless of experience, especially when shopping in larger cities/hip neighborhoods.
What's successful in hipsterville is not likely to play out with the same results in "Leave it to Beaver" suburbia.
I've sold homes from holding an open house - several times over. In one case the buyer wrote an offer on the spot, but most of the time the open house was the first viewing of the house and after a second - they bought.
It's a ton of work but "group" open houses - getting several agents to hold an open house at the same time, in the same neighborhood - it's great to generate traffic. The main work is to get the agents to participate and be open when they say they will. (but that's another topic!)
The main thing is to greet each potential buyer as a guest - agents must get their nose out of the newspaper or paperback book and get on their feet!! Each "guest" is a potential buyer and should be greated and the house should be "shown". Agents: Don't sit there and say, "let me know if you have questions" - on your feet show the house and all the attributes of the home. Yes, it's called work - do it and you can get paid!!
Good selling!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Respa
