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Real estate open houses, waste of time or successful in selling home, real estate agents, home sale statistics, nosey neighbors, relocation, house showings
Hmm, that is pretty close to the same statistic about how many homes in the nation are facing foreclosure. Only 7/10 of 1% of homes are facing possible foreclosure. Yet for some strange reason you seem to think that a HUGE MAJORITY of them are. Why would one statistic hold favor and the other not?
BTW, neighbor had an open house this past weekend that was only for 2 hours. They are listed for THE HIGHEST of ANY house EVER sold in the hood. Sure hasn't stopped buyers from looking. They had about a dozen or more lookers and over half of them were dead serious buyers that ARE buying SOMETHING. One has already come back for a second showing. One looker from last week already looked 3x's (house has only been on the market for 1 1/2 weeks) but finally decided they wanted a house that already had a pool. Oh well. Looks as though there are TONS more fish in the sea
Anecdotes are nice and all, but statistics don't lie. Sure, I wouldn't turn down an open house, and some people will list certain cases where it has lead to a direct sale, however it is extremely rare to get a direct sale from one. That's a fact.
Your comparing open houses to foreclosures and the damage done to the economy, drag on home values, and people's lives turned upside down? Also, what happens to a ummm, ok... talk about apples and oranges...
[quote=CouponJack;2957598 but statistics don't lie.
Your comparing open houses to foreclosures and the damage done to the economy, drag on home values, and people's lives turned upside down? Also, what happens to a ummm, ok... talk about apples and oranges...[/QUOTE]
I'm using statistics. In reality only 7/10 of 1% of all homes face foreclosure. I'm just pointing out how you said that it was such a SMALL portion of how they effected home sales that it is a "waste of time". BUT, your more than willing to jump on the "Foreclosures up 53%" bandwagon (or whatever % the article might say) but they are up 53% FROM WHAT? So if the year before a city saw 2 foreclosures and now they have 4 it DOUBLED! Statistics "don't lie", right? Sure. Your the one that only wants to use the statistics to make it look like the entire country's real estate market is all doom and gloom whereas there are still MANY places it is healthy and striving. Apples and oranges huh? Only when it is convienent for you, right?
You'd probably have an equal chance of getting hit by lighting.....
Most who attend open houses are either of the following...
nosy neighbors
People competing w/you and trying to see what your home is like
the primary realtor's assistant who gets caught up on paperwork...
Its a waste of time people.
This is true. Actually the NAR web site says 2% of open houses will ever result in a sale. Either way that is a pretty small number to be bothered having strangers intruding in your house.
I'm listed for sale right now...my agent has not recommended an Open House and I don't want one. I agree with the above posters, who state most folks going to open houses are 1. people who are just starting to consider buying, and are more checking out a neighborhood (that's what my husband and I did; once we were serious, we worked with our agent and made appointments to see homes); and 2. nosy neighbors. I also agree with the poster who implied that agents who hold open houses, are probably just looking for customers. Again, when DH and I would go to open houses, the real estate agent would almost always give us a pitch as to why we should use them as our agent.
Your the one that only wants to use the statistics to make it look like the entire country's real estate market is all doom and gloom whereas there are still MANY places it is healthy and striving.
Tell me the markets that are healthy and striving.
Also, if you give me an example like Charlotte NC, try again, move on. The market is not HEALTHY. I'll give you an example...
If two people take a test (100 is the highest) and one gets a 15 and the other gets a 55. The person who got the 55 did not do well. They both got an F. They failed, get it?
Kind of like the examples you'll give to me.... Also, if you give me San Antonio, just remember Mindy still hasn't sold her house w/3 reductions since April in a market that you said is doing "great".
Now going back to the OP, yes the statistics are the same but Foreclosures AFFECT a heck of alot more people than open houses....just a minor detail you left out...
You'd probably have an equal chance of getting hit by lighting.....
Most who attend open houses are either of the following...
nosy neighbors
People competing w/you and trying to see what your home is like
the primary realtor's assistant who gets caught up on paperwork...
Its a waste of time people.
This is completely innacurate and wrong, at least in my market area & in my experience.
The stat is innacurate. My company has a very agressive, very visible open house program. One in roughly 22 open houses results in a sale of the house. Even if that's a puffed number, and the actual is one in a hundred, it's still better by a factor of ten than the silliness you put out as though you know what you're talking about.
The characterization of the attendees is wrong. Yes, you will get SOME neighbors, and occassionally your "competition". Very often you get people who are looking to purchase a house, and stop because the neighborhood appeals to them enough that they would live there, and the outside of the house also is at least acceptable to them. Of this group, most will decide this is not the house for them. And yes, the real estate agent can turn those people into customers or clients to go buy another house. But once in a while, they actually want to buy the house.
I closed just this past Wednesday, a property I marketed. The buyers came to an open house because they saw my sign. SOLD!
Last edited by Bill Keegan; 02-26-2008 at 09:21 PM..
Reason: typo
. One in roughly 22 open houses results in a sale of the house. Even if that's a puffed number, and the actual is one in a hundred, it's still better by a factor of ten than the silliness you put out as though you know what you're talking about.
LOL, Bill you jump from "1 in roughly 22 houses" to "1 in a hundred".....you're all over the map.
Anyway, you must be very good because your #'s are extremely puffed to the masses.
Quote:
Originally Posted by Bill Keegan
. Of this group, most will decide this is not the house for them. And yes, the real estate agent can turn those people into customers or clients to go buy another house. But once in a while, they actually want to buy the house.
.
You proved my point. If you're looking for an argument on this topic, think again. Providing anecdotes are nice, but the overwhelming majority of open houses are just a pit stop for you to use my house as an office for the day, also for the neighbors to "kick the tires" & for you to find prospective buyers for OTHER homes...
LOL, Bill you jump from "1 in roughly 22 houses" to "1 in a hundred".....you're all over the map.
Anyway, you must be very good because your #'s are extremely puffed to the masses.
You proved my point. If you're looking for an argument on this topic, think again. Providing anecdotes are nice, but the overwhelming majority of open houses are just a pit stop for you to use my house as an office for the day, also for the neighbors to "kick the tires" & for you to find prospective buyers for OTHER homes...
I said my company stats show one in 22, but allowed for the fact that someone like you might say thats puffery. Your number is ridiculously small, even in comparison to the hypothetical puff.
And you want to just ignore the 2% that are sales, and assert that open houses are a total waste. Meanwhile, if some real estate agent said they were going to stop using a method of advertising that they had to pay for, but resulted in sales to only 2% of the people who saw it, wouldn't you say that the agent wasn't doing everything he could to sell the clients property?
Is it just because an agent might also benefit here? Would that be so terrible?
I said my company stats show one in 22, but allowed for the fact that someone like you might say thats puffery. Your number is ridiculously small, even in comparison to the hypothetical puff.
And you want to just ignore the 2% that are sales, and assert that open houses are a total waste. Meanwhile, if some real estate agent said they were going to stop using a method of advertising that they had to pay for, but resulted in sales to only 2% of the people who saw it, wouldn't you say that the agent wasn't doing everything he could to sell the clients property?
Is it just because an agent might also benefit here? Would that be so terrible?
Bill, if you want to use the NAR's 2%, go right ahead, I'll believe that one... somehow I'd think it'd be slightly lower....
You want to know what I'd use my realtor for? To market it for AGENTS.
There's a reason why most realtors send their ASSISTANTS to do open houses...(because they know they rarely sell houses).
Hey, if your company touts a 1 in 22 hit rate, I salute you. That sounds like something no other realtor could match. If there's any "puffery" in that number, than shame on your company for false advertising. If something sounds too good to be true...
I'm listed for sale right now...my agent has not recommended an Open House and I don't want one. I agree with the above posters, who state most folks going to open houses are 1. people who are just starting to consider buying, and are more checking out a neighborhood (that's what my husband and I did; once we were serious, we worked with our agent and made appointments to see homes); and 2. nosy neighbors. I also agree with the poster who implied that agents who hold open houses, are probably just looking for customers. Again, when DH and I would go to open houses, the real estate agent would almost always give us a pitch as to why we should use them as our agent.
Well, of course! We ALL know this......many naieve people actually believe these really help.
When I was stupid and blindly thought my open house would help, my good neighbor went to my open house and guess what! When she was done, she called my wife and told her the realtor (actually it was the assistant..what a surprise!) tried to sell her another home in the area that was competing with mine!
When I confronted the realtor, the kid was shocked and speechless. Told him he'd never sell a house again if he didn't give me my release....got it faxed to my office the next day...
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Why would one statistic hold favor and the other not? 
talk about apples and oranges...
