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Last year three of my clients came from open houses. While they did not buy that house that was open they were looking and need an agent. Open houses can be a great marketing tool.
Open houses are great for gaining buyers in my area. 25% of my annual business comes from open houses. Several of my buyers have actually found the houses they want to purchase through the open house, we just have to get theirs sold first. And I don't serve food at mine.
Open Houses are a great way to find buyers. I have open house about 4 times per week.
Right now they are REO property`s that of course are vacant.
On my new listings, I will market it heavy for about 7 to 10 days, and then have one big Open House , on a Sunday, like a grand opening, no food, however I do have baloons.
It is more important to have a dedicated website to the home, tons of pictures, Podcast, and blog about the property. Large enough sign in the front yard reading when the grand opening will be, and website with all the info.
Good Luck
I love Open House! It is a great opportunity to meet the wonderful people who live in the area you are selling in.
First of all you get to meet both Buyers and Sellers. You get to meet all the neighbors who talk to their friends and family about YOU and the Open house.
You get good PR and exposure and so does the house....I like to offer refreshments as it makes people comfortable and gives you more of a chance to talk to them. It's best if the food is not hard to eat or messy though.
"I love Open House! It is a great opportunity to meet the wonderful people who live in the area you are selling in."
HA HA. If you held an open house in my area and saw all the "wonderful people" who live in the area, you'd call the police! Open houses here are getting robbed dumb deaf and blind.
Agents may want to know that OH's are very valuable to serious buyers like me. I've attached an article from the paper this morning. More Gen X and Y'ers really don't need their hand held by an agent. We know exactly where to get all the needed info and don't want a realtor pressuring us. Frankly, in this market, it's not like houses are flying off the market, so if I am interested, I actually can wait until the Sat or Sunday open house. I am younger and when I walk into open house, realtors don't pay much attention to me. I love it. I ask the questsions I need and move on. And I absolutely have made an offer after on OH. I stood outside, called me realtor and mete here at a local coffee shop.
http://www.boston.com/realestate/news/articles/2008/03/02/look_homeward_gen_x/
Open Houses for the Public meet with mixed reviews by agents in my area.Yes you do meet a neighbor or two and sometimes you have a buyer who becomes an eventual purchaser ,also you may get a future listing.
Broker Open house for me is a good time to network for me.I am in a small office and pints of view from other agentsare a big help.So to have a lunch there is called for.
If you understand that open houses are often just a chance for realtors to get clients for their other listings you are not going to be disappointed. Around here it's called "dropping your sign". The way of the game I guess. Now some home sellers I know hold what are similar to open houses, but are really more of a "get 'em bidding on it" kind of thing. A bit harder in many markets now, to say the least. A home better be in great condition to make them work well.
In response to MonChi, as a realtor I would hate to know that I went to an open house not only to sell the home but also to meet new potential clients. If the realtor sitting in the open house did not ask the proper questions to you to find out if you were even remotely serious shame on them. I love open houses, this is a great marketing tool to meet new clients, they may not buy that home but maybe something else from you if you are doing proper follow-up.
if you don't have food in my area no one shows up. The better the spread the better the turn out.
Going to a Reator Open tonight, with Mexican food. Our location is a bit different, big 2nd home market and many newly built homes. I love doing open houses we get lots of people, but am sitting a beautiful lakeview home in a popular area. In this market everything could help. Also, sending out mass realtor emails keeps it in front of other REALTORS.
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Open House ~ Back to basics...NO FOOD!
lovenyc
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I am only in favor of an open house for just Realtors to come and see the listing. Hello ~ How Are You ~ Take a look around ~ Questions ~ and leave!
I do not think having an open house for the public is productive...AT ALL. Waste of time. If someone is interested, you'll get a cal for a showing.
I am also hearing of some Realtors having 'food' and beverages out to encourage to stick around a bit longer and chat. I find that strange. What is this becoming...a contest? Is it resorting to who has the best layout of food?
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