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Old 07-26-2007, 09:07 AM
 
Location: Martinsville, NJ
604 posts, read 2,712,782 times
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Intersting....

REALTOR.com: Who Benefits from an Open House?
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Old 07-26-2007, 10:33 AM
 
333 posts, read 1,909,000 times
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hmm that is interesting. I hate open houses as a seller. I have 3 kids and two dogs I have to drive around for 4 hours. I have a very good friend who is a realtor who told me she thought open houses were a waste of time. My listing agent wants to hold one for us here in Maryland. I guess it is a company wide "open house extravaganza" . They are offering a year's worth of free gas. But, I don't need to be driving around for four hours to have people who really aren't interested tromp through my home.

I asked my listing agent if she was going to have a broker's open house. She said "no, that is just meant to show off.." Hmmm maybe I need to tell her she should do it.
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Old 07-26-2007, 12:17 PM
 
Location: NJ
12,284 posts, read 33,060,464 times
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Quote:
Originally Posted by emanon View Post

i've known this since i sold my first house 10 years ago. that's the dirty little secret in the Real Estate profession, lol. Last I heard less than 1% of houses are sold during open house (this is from an agent).
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Old 07-26-2007, 12:22 PM
 
687 posts, read 3,052,088 times
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Weichert claims 3 in 10 open houses lead to a sale. Maybe a sale, but not necessary a sale of the open house house?
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Old 07-26-2007, 12:23 PM
 
3,269 posts, read 9,241,983 times
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My friend, who is an agent, says other agents in her office beg to do open houses for her listings when she is busy. It's the best way they have of picking up new clients.

We have just listed our house FSBO and we are planning on some open houses, but I think a FSBO is a different situation.
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Old 07-26-2007, 12:54 PM
 
Location: NJ
12,284 posts, read 33,060,464 times
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Quote:
Originally Posted by juliann1977 View Post
Weichert claims 3 in 10 open houses lead to a sale. Maybe a sale, but not necessary a sale of the open house house?
maybe. weichert happens to get the king of open houses in this area, so i'm not surprised by their statistic.

a weichert agent is the one who gave me that stat, btw!!!
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Old 07-26-2007, 01:04 PM
 
Location: Savannah GA/Lk Hopatcong NJ
13,144 posts, read 26,098,400 times
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Not sure I would be comfortable with an open house......anybody could walk through including potential home invaders scoping out the layout not to mention the nosy neighbors
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Old 07-27-2007, 07:50 AM
 
Location: NJ
15,551 posts, read 24,469,444 times
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We were totally against an open house. We had an agents open where 3 agents attended

Last weekend we drove around looking at new home communities and found 2 open houses, decided to go in. Since then we decided maybe other people will do the same and scheduled an open for Sunday... We'll see.
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Old 07-27-2007, 08:26 AM
 
Location: Bridgewater, NJ
116 posts, read 500,834 times
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I am a Weichert agent and recently sold the home I was sitting at from an open house. Yes, Weichert statistics show that approx. 1 in 3 open houses result in a sale of that house. I do think that Weichert is the king of open houses.
Your agent should do a broker's open. It's a chance for agents to view the home in person. I can't tell you how many times I've attended broker's opens, and called my clients from the driveway to come over to see it.
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Old 07-30-2007, 03:53 AM
 
119 posts, read 197,362 times
Reputation: 23
Quote:
Originally Posted by juliann1977 View Post
Weichert claims 3 in 10 open houses lead to a sale. Maybe a sale, but not necessary a sale of the open house house?
I know someone trying to sell her townhouse in Edison, and I mentioned to her that open house is one of the most important thing to do, and she held lots of open houses and did lots of marketing, and she told me recently that her townhouse finally sold, and interestingly, she got dozen of her townhouse community units sold as well ...

She did for sale by owner, but those dozen others were listing with realtors. Anyway, they all sold, and the community almost sold out...

Any realtor want to verify the community? It is Westgate at Edison, but I believe any community will work if consecutive open houses got held every Sunday and 1,000 flyers sent out to prospective buyer communities such as apartment complex ...

Disclaimer: I got my hands full, as Gold medal of Million Dollar Club winner of 2006 (yes, last year, so there are many buyers out there!), I am focusing on helping my clients to sell their condo/townhouse and move up to buy bigger house and currently not accepting new customer.
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