Can seller host open house when realtor has no time? (new agent, listing)
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That .01% is a national number. I know of exactly 1 sale an agent generated by sitting in an open house in my 7 years of real estate. I'm not counting onsite agents sitting for a builder as an open houseopne houses are more effective in some markets than others. That being said, open houses are a great way for agents to find unrepresented buyers in an attempt to pick them up as clients. 17% of buyers found their agent via open house, .01% of buyers found their home through an open house.
I'm one of the top agents in my market and I haven't done an open house since 2008. I have plenty of better things to do than sit around in an open house trying to pick up buyer clients. Already have plenty of those. As a seller you control 3 things: Terms, Price, and and condition. If you take care of condition and price there really isn't a reason your home shouldn't sell.
If you're dissatisfied ask him for a release from the listing agreement and go find a better agent. One that will educate you on pricing and staging your home to sell, is honest, and has a good marketing plan. I suggest interviewing at least 3 this time around.
Please. Real estate is always regional and in some regions, open houses result in sales most of the time. Take California, open houses result in a high percentage of sales and the tactics run as follows:
House is listed. Buyer wants to offer. buyer told offers are not accepted until xx/xx/xxxx which happens to be the Tuesday following the open house. Buyer attends open house. Buyer puts in offer according to pre-determined offer window. An offer is accepted the next day.
Illinois might not have the same result but that percentage quoted doesn't apply everywhere.
The failure here is the real estate agent. Obviously, had the REA been doing their job, the OP wouldn't be here asking questions.
When a REA runs an open house, it is for their benefit. When the owner does it, it is for their benefit. It comes down to who is the "their" when it comes to benefits.
There is an option for them. Run the open house by appointment. They advertise the open house but require time slots via previously arranged contacts. That way the owner can easily run some simple checks to see who is showing up. The owner can also require escorted appointments. So many things can be done but rarely will you see them mentioned by REAs.
When a REA runs an open house, it is for their benefit. When the owner does it, it is for their benefit. It comes down to who is the "their" when it comes to benefits.
There is an option for them. Run the open house by appointment. They advertise the open house but require time slots via previously arranged contacts. That way the owner can easily run some simple checks to see who is showing up. The owner can also require escorted appointments. So many things can be done but rarely will you see them mentioned by REAs.
You sure claim to know a lot about RE without being an agent
Quote:
but rarely will you see them mentioned by REAs
Because usually they are hair ball ideas like above.
Please. Real estate is always regional and in some regions, open houses result in sales most of the time. Take California, open houses result in a high percentage of sales and the tactics run as follows:
House is listed. Buyer wants to offer. buyer told offers are not accepted until xx/xx/xxxx which happens to be the Tuesday following the open house. Buyer attends open house. Buyer puts in offer according to pre-determined offer window. An offer is accepted the next day.
Illinois might not have the same result but that percentage quoted doesn't apply everywhere.
The failure here is the real estate agent. Obviously, had the REA been doing their job, the OP wouldn't be here asking questions.
When a REA runs an open house, it is for their benefit. When the owner does it, it is for their benefit. It comes down to who is the "their" when it comes to benefits.
There is an option for them. Run the open house by appointment. They advertise the open house but require time slots via previously arranged contacts. That way the owner can easily run some simple checks to see who is showing up. The owner can also require escorted appointments. So many things can be done but rarely will you see them mentioned by REAs.
Well then, Mack, you're a freekin' genius !! That's the answer ! I'll pack up and move to Cali, do nothing but open houses, sit back, fill out the forms, and just rake in the dough. Makes perfect sense.
Please. Real estate is always regional and in some regions, open houses result in sales most of the time. Take California, open houses result in a high percentage of sales and the tactics run as follows....Can you quote and source some stats for me? I'm skeptical.
So many things can be done but rarely will you see them mentioned by REAs. No reason to reinvent the wheel here though I've heard some stupid ideas from people. It needs to be well priced and in good condition and it will sell. If it's not in good condition then the home must be priced accordingly. Not rocket science.
What suggestions has your agent made to get the home sold?
He presented me with his marketing plan (which obviously included the OHs), did a search on similar horse farms which recently closed (this is hard because there isn't much out there), and suggested a sale price, which I agreed with. The house is immaculate, the barn is functional. I am not concerned about the sale as much as I am being told stories and being ignored (I spend a lot of time off the continent and might appear as easy prey). Right now I am trying to negotiate an exit strategy because I don't see a reason not to have a good relation to the REA.
You sure claim to know a lot about RE without being an agent
Because usually they are hair ball ideas like above.
One doesn't need to be a REA to have seen how many operate, the problems that arise because of them and the many times self serving efforts are used by them.
I guess only agents know anything about RE. Maybe I'll study this weekend, take the test next week and be an expert too.
Well then, Mack, you're a freekin' genius !! That's the answer ! I'll pack up and move to Cali, do nothing but open houses, sit back, fill out the forms, and just rake in the dough. Makes perfect sense.
Seriously, that out of touch? Take some of the regions in California. SF Bay Area. Open house one day, 5-10 offers following Tuesday, accepted Wed and in escrow.
Some placed in Southern California, same thing. Open house, visits all day, multiple offers, sold.
I guess if you are stuck and can't sell a house, trying a new location might for you. Less quilting, more selling.
This is common knowledge except for those who never look beyond their own limitations.
Everyone knows this. Well, maybe some don't. In these types of regions, open house and that house is sold. Maybe you better tell all those agents hosting the open houses that they have no chance of selling. Maybe they'll learn something.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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Quote:
Originally Posted by Mack Knife
One doesn't need to be a REA to have seen how many operate, the problems that arise because of them and the many times self serving efforts are used by them.
I guess only agents know anything about RE. Maybe I'll study this weekend, take the test next week and be an expert too.
A seriously good idea. Let us know how you fare.
The test is only a qualifying bar to those who might think this profession is easy.
I love wordpress blogs. Every one on them is an expert at something.
My only beef with this one is that they quote the NAR economist extensively. We all bow down to his missives..... um, well maybe if we have a wordpress blog we do.
Seriously, that out of touch? Take some of the regions in California. SF Bay Area. Open house one day, 5-10 offers following Tuesday, accepted Wed and in escrow.
Some placed in Southern California, same thing. Open house, visits all day, multiple offers, sold.
I guess if you are stuck and can't sell a house, trying a new location might for you. Less quilting, more selling.
This is common knowledge except for those who never look beyond their own limitations.
Everyone knows this. Well, maybe some don't. In these types of regions, open house and that house is sold. Maybe you better tell all those agents hosting the open houses that they have no chance of selling. Maybe they'll learn something.
99% of agents already know as they've said above, there is very little chance of selling the house they are sitting in. But your expertise in your market must equate to all markets evidently. Open houses are only done for the benefit of the homeowner, and maybe meet a real buyer. Did you know that many buyers who sign the welcome open house sheet don't put down their real names!
There really are a lot of biased KIAs stuck in California. Many are trying to flee.
I checked the map again; yep.... there are 49 other states in this country. NY city thinks they could be #51. But Puerto Rico could be next; wonder if they have sleezy agents there too. Do you actually have nightmares about sleezy agents Mack? They are "after you" ya know.
And what I do as I revel and enjoy my well earned retirement is n.o.y.b.
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