I agree. Only done two open houses in my time as a Realtor. Both were a waste of time. It is MUCH MORE productive to spend the time and money on marketing to the people that would truly be interested in what the house has to offer. Marketing to the lifestyle too.
One of my team did two open houses last weekend and she got a lot of traffic, but most were buyers who were not yet ready to write offers on anything. They're just not really effective in getting the house sold, IMHO. Unless it's a HOT seller's market and then that's the first time buyers can get inside to see it.
I have sold 4 listings this year directly related to an open house. I think it is more about keeping the energy of activity around a listing many times. The more energy and activity we can keep going, the sooner we will find a buyer. Full disclosure, two of those were actually Grand Opening type of open houses that created a lot of traffic and BUZZ.
I think it really depends on the market too. In a hot seller's market, I'm sure they're much more effective. In a buyer's market they just don't do much, at least in my opinion.
I have done open houses and it is no my favorite. I will do them if the seller really wants me too, although at the appointment I would let them know the facts that you mentioned here and if they still want me to hold open house I would do them or have an agent in my office hold it open for me. I think open house is a waste of time for the listing agent, but can be very profitable for a newer agent that needs buyers. Great content!
I think open houses as a primary marketing tool to sell is a waste of time. However as a realtor you could put the open house on steroids. You could reach out to a for sale by owner to host an open house as long as you are quite picky about the home you’re going to hold the open house for. Then you reach out to every home on the MLS that’s listed and just pending within 5 miles of the address and invite the listing agent to bring their seller to your open house. They literally are going to be looking at a home with very little competition. That could be the marketing tactic to use on an open house.
What's your opinion on open houses? Great marketing tool or just busy work?
Georgia Coast Homes by Karin Carr a
Open houses have become quite productive in Southern California over the last couple of years. Serious qualified buyers are showing up.
That's awesome Mary! I think in a seller's market they work well but in a buyer's market... not so much.
@@georgiacoasthomes , I agree. It really does depend on the market.
Maybe that's why we have had luck with them. Many of our buyers are coming from California.
AMEN SISTER!!!!!
I agree. Only done two open houses in my time as a Realtor. Both were a waste of time. It is MUCH MORE productive to spend the time and money on marketing to the people that would truly be interested in what the house has to offer. Marketing to the lifestyle too.
One of my team did two open houses last weekend and she got a lot of traffic, but most were buyers who were not yet ready to write offers on anything. They're just not really effective in getting the house sold, IMHO. Unless it's a HOT seller's market and then that's the first time buyers can get inside to see it.
I have sold 4 listings this year directly related to an open house. I think it is more about keeping the energy of activity around a listing many times. The more energy and activity we can keep going, the sooner we will find a buyer. Full disclosure, two of those were actually Grand Opening type of open houses that created a lot of traffic and BUZZ.
I think it really depends on the market too. In a hot seller's market, I'm sure they're much more effective. In a buyer's market they just don't do much, at least in my opinion.
I have done open houses and it is no my favorite. I will do them if the seller really wants me too, although at the appointment I would let them know the facts that you mentioned here and if they still want me to hold open house I would do them or have an agent in my office hold it open for me. I think open house is a waste of time for the listing agent, but can be very profitable for a newer agent that needs buyers. Great content!
We will do them as well if the seller wants but they are never incredibly effective at selling the house. at least not in this market.
i agree with the open house, its really for the agent to pick up buyers. I will do them anytime if the seller wants me to!
If they're effective they're great! But sititing in an empty house for three hours is the pits. Have you ever had no one show up?
I think open houses as a primary marketing tool to sell is a waste of time. However as a realtor you could put the open house on steroids. You could reach out to a for sale by owner to host an open house as long as you are quite picky about the home you’re going to hold the open house for. Then you reach out to every home on the MLS that’s listed and just pending within 5 miles of the address and invite the listing agent to bring their seller to your open house. They literally are going to be looking at a home with very little competition. That could be the marketing tactic to use on an open house.
Very interesting tactic!
I’ve only had one open house produce a contract and that person had a Realtor. Their Realtor was out of town.
I can't even say that! They're just not very effective anymore.
The amount of time that I have wasted in open houses the last few months....ugh.
In a hot seller’s market they are probably still very effective but in a buyer’s market? Not so much. In my humble opinion anyway.