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I had an open house last week, 7 groups people came in including some neighbors per our realtor. I have no idea why our neighbors want to come, bored, nosy? Anyway, no offer so far. My realtor wants to have more open house in the next several weeks. I am wondering if the open house will attract the serious buyers or just window house shopper? When and how often do you have the open houses?
Your neighbors want to see how their own houses compare to yours, in the interest of finding out what their own houses are worth. I've also attended local open houses to get decoration ideas.
Open houses always have the possibility of attracting interested buyers in a "no hassle" situation: the house is open, they are right there, why not have a look.
The Realtor hands out business cards and may get an interested buyer and then represent both sides of the deal if the seller permits it--and get both halves of the commission.
The Realtor's business cards may also attract customers interested in buying other houses. As a seller I have no problem with that. My Realtor has to make a living.
Note that open houses are advertised and attract more traffic. More traffic exposes your property to more potential buyers, and may result in more offers or sooner offers. I'm pleased when my Realtor has open houses at my properties.
IMO, most open houses are used by listing realtors to identify potential clients who are house-hunting (without their own realtor).
I don't know why, but it seems rare that a house actually sells through an open house. (Perhaps it's because one has to find just the right buyer at just the right time - looking for exactly what the open house offers).
I wouldn't ever have another open house. People are there it seems mainly to snoop around for other reasons than to consider buying your specific house. They want to get a feel for the neighborhood, compare their house to yours for potential selling, decorating, renovation, etc., and sometimes even to steal. Serious buyers make an appointment with their realtor to tour your home.
I fail to see what harm it does. I really like my Realtor and I'm willing to work with her and maybe the open house may benefit me.
Keep in mind that one of those neighbors might call a friend who is house hunting and get them to come look at the house.
I have some really good friends who I'd love if they lived in my neighborhood, but alas they can't afford it.
All I can say is it does no harm, and what's the problem with helping your Realtor? In my experience the more I cooperate with my Realtor the more she is willing to go beyond the call of duty in helping me sell my houses.
I think open houses had their purpose years ago before you could see and read everything on the internet. Now I think it's more of a Sunday afternoon outing for bored people, a peek for nosy neighbors, and an opportunity for people looking to steal something. We'd never have one again and have not needed one for the last several homes we've sold. Once you get someone serious about the property, the price, and the neighborhood, they can come see the house with their agent.
While an open house may not do any 'harm,' there is the inconvenience of preparing for an open house, vacating over the weekend and the risk of having a lot of random strangers parading through your house with minimal supervision.
It might be a good opportunity to 'hear' what multiple people are saying about your house (if you could record it). Perhaps you could just wander through like potential buyers and listen. But, the odds of finding a buyer among browsers of an open house are slim.
I like going to open houses, and have gone to some even for my neighbors. Just curiosity and to see what they've done and see if it gives me any ideas - the tile work in my hall bathroom was modeled after something I saw in a listing when I was in the process of building my home, for instance.
I had one open house when I sold a couple of years ago. I realize they aren't the most effective way to find a buyer, but you never know, right? Plus I take a lot of pride in my home and how I've decorated it, so I'm happy to show it off and if my neighbors want to be looky-lous when I'm ready to sell, they are welcome. I'd take them on a tour right now if they wanted one.
An Open House can be wasted time/effort
I would put more into the quality of the photos on the MLS
I see so many homes listed where there are really bad photos--poor lighting makes a horrible impression w/interior photos...people often don't clean up the house, don't de-clutter and put away personal items that well...
If you live in a competitive area you don't usually need an Open House because people are tracking new listings on MLS and coming attraction signs in yards
When we were in market for home several years ago in a competitive market, our realtor who had over 30 yrs of experience and was very successful in both listing and selling (not all are).
She said that in a competitive market where people are actively searching for homes, the people in the market are familiar with what is already out there--
They would normally try to see the house w/in 24 hrs of its posting because of the competition
After that they either decided to make and offer and did it--or they passed on that house
Very rarely will people in the market--actively looking--come back AFTER a house was on the market for even 2 weeks to revisit it as a potential purchase...unless there was maybe a price drop and they saw that as a significant factor in their priority list...
So IF your house has been on the market after a week or 10 days, the people that are going to be calling about visits are NEW to the market...people who are moving, getting married and wanting new living situatuion, people who got raise and can afford more expensive home or those who are downsizing--like seniors w/o kids at home...
And that is why MOST people get LOT of activity when house first goes on MLS/market and then after week or so calls drop to trickle or none...
Open Houses can be one way that might encourage traffic AFTER the new has worn off...
IMO, most open houses are used by listing realtors to identify potential clients who are house-hunting (without their own realtor).
I don't know why, but it seems rare that a house actually sells through an open house. (Perhaps it's because one has to find just the right buyer at just the right time - looking for exactly what the open house offers).
I listed a home on the 14th of mar, did an open house that next saturday, and a person that came thru without their agent went back 2 days later and wrote a contract on it.
Open houses DO work.
I've sold quite a few because of open houses.
I also usually invite neighbors to the open house. They obviously like living in that neighborhood, and everyone likes to feel like an "expert", so if they see the house and like it, and run across someone at work looking for a hone, or that has a friend looking for a home, they are likely to want to tell them all about the great house in their neighborhood.
Obviously I ck with seller first to make sure the neighbors are ok, and not someone I should be worried about having in the house..
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