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I am a home seller; selling through a company in Ohio called NEXTHOME. I pay a flat fee, they market the home through the MLS and do the closing paperwork. I do the showings, or let another realtor use the lockbox to view the home. I hold the Open Houses.
Here is my question. I know that other full service real estate companies hold a "realtors" open house. How can I go about doing that, and would anyone show up? I thought about putting together an invitation/flyer and having it on a Tuesday and can get it to the real estate companies, but will they come? A buyers agent will receive 4% (not the usual 6%) if my house sells through an agent other than Nexthome.
I understand you are feeling that you need to do something. Buy Broker opens waste your money and their time. If the house is on the MLS, and properly marketed, a broker open will not get a buyer.
It's hard to sell the Cadillac in a neighborhood full of Chevy's.
What can you do to offer the buyer the best value in the neighborhood?
I was an agent in the NEO area for several years (just sent my license back in March, because I moved to FL too)... A "Broker's Open" is basically done to invite all local RE Agents into a New Listing. These Opens are usually hosted with a full Lunch or something like a Wine and Cheese table, Brochures or even CDs with a Home Tour burned that the Agents can take with them.
I have had friends that had no luck with NextHome, but they listed their homes too high... I even helped with providing Open House signs, custom Flyers and so on.
Do you have a Visual or Virtual Home tour??
Good Luck! I sold my house in NEO in less than 6 weeks in the slow, weak, NEO market. I know you can too!!!
12paws
Don't waste your time with Open Houses, you will just get nosy neighbors. By selling yourself, you will not be able to get into many of the local listing mags. Agents are looking to sell their own inventory over FSBO's. I'll tell you right now, if you house is not priced right, it will not sell. And many buyers are going to present offers that are low. But if you must sell, give yourself 30 to 60 days on your own. Stage the House, put together a Virtual Tour, and do not put your nose up on the first offer, it could be your best. I am a Realtor in Lake and Marion, I just took my house off the market because of the poor turn out by buyers. Hoped I helped, let me know if you sell.
In Atlanta, they have agent caravans on Tuesday, serve a bunch of food (hence the name Fat Tuesday), and the agents who don't have anything to do spend their day socializing. We sell high end (avg. $2-3 million) new homes. We get plenty of people who want to come in a look around. But have any of them ever brought us a buyer? Nope.
There are only 3 reasons a house doesn't sell; marketing, condition and price.
12paws, I don't know if you're really offering a buyer's agent less than the usual co-op fee, but if you are, that could hurt you. It's a business decision for us not to show homes that are being "cheap" with our compensation, why would we do the same work for less money? Would you?
IMO there's way too much focus these days on trying to save a buck (which, BTW, nobody knows the amount of until the home sells anyway). In my view...if someone is that focused on the supposed savings then their priority really isn't *selling* the house.
Once people's priorities flip and they decide to get serious about selling, and they realize all they're getting is lowball offers anyway, 85% end up listing with a real agent. (I can refer someone to you fast if you ever decide to do that [no charge]). These discount companies work great for using people's homes as bait for that company's buyer agents, but do they care if YOUR house sells?
It may work out for you, it may not...either way, best wishes. PS, I am in OH as well.
Last edited by Cartouche; 05-15-2007 at 05:46 AM..
I know that other full service real estate companies hold a "realtors" open house. How can I go about doing that, and would anyone show up?
I don't think you can effectively do it, if your goal is to get a parade of other agents to see your home.
Personally, I can't think of a reason that I would attend a standalone Realtor/FSBO Open House. The whole purpose of a property tour is that agents can see multiple homes in a short span of time in a concentrated area.
As I type, a busload of 50+ agents are on the KW property tour, which today includes one of our listings. This is the advantage of listing with a big office that has in-house tours. And yes, the tours do create exposure that sells houses.
Steve
Last edited by austin-steve; 05-15-2007 at 08:41 AM..
Reason: typo
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4%?
