Quote:
Originally Posted by forzalugano
Open houses are opportunities for agents and brokers to meet new people, learn about their market, and prospect for new opportunities—but they aren't good for buyers or sellers.
Open houses do little in the way of selling property, and it seems that every year, the NAR survey of homebuyers and sellers reflects this reality.
Of the surveyed agents in the study referenced above, more than half (54.6%) of agents who hold open houses said they do so to prospect for future clients, and to benefit their own brand recognition.
What’s disappointing in this strategy and substantially more ironic is that 54.7% of surveyed agents said they hold open houses "to demonstrate to the client that [they’re] working to sell [the] home."
This according to James Kimmons is the author of "The Real Estate Agent's Desk Reference" and "70 Things First-Time Homebuyers Need To Know"
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Hogwash.
Open houses?
A la Michael Jordan: "I miss 100% of the shots I don't take."
We do so many marketing efforts that yield so few results, I don't see why open houses are always singled out for a bogus bad rap.
Now, if a scumbag agent is putting a family out of their home for hours so they, or an associate, can scrape up buyer leads, that is just terrible behavior.
That abysmal practice data should be separated from legitimate open houses, which are held only to sell the subject property.