If you are selling or sold your home recently?

Home often did/do you have Open Houses? Is that how you sold your home?

Re: If you are selling or sold your home recently?

I am not a seller (nor did we recently sell) but the house we are in contract on had 2 open houses within the first week it was on the market.

One was on a Tuesday (during the day) and one was that next weekend.

Re: If you are selling or sold your home recently?

I didn't sell or are selling our home.

But the home we just purchased had 2 open houses each weekend for the first 3 weeks it was on the market. We went into contract shortly after that.

There are 2 other houses for sale on the block which have open houses every single weekend.

Re: If you are selling or sold your home recently?

From an agent's standpoint, I think too many open houses can be as ineffective as too few. The same buyers are out there, so saturating the market with too many open houses becomes counterproductive. Of course, people have different views on this, and ultimately, it's up to the seller what they want to do. I always discuss it upfront with sellers when I am taking a listing.

Personally, I think it makes sense to have an open house when the listing is new to the market, and then maybe once a month after that (definitely doing another after any price adjustments, to capitalize on new interest). Once a month captures new buyers who've entered the market, but doesn't appear desperate or make the open house "stale." I think too many open houses = declining attendance.

The exception would be if the house is very hard to show via private showings (a lot of sellers put crazy restrictions on when and how the house can be shown). In that case, I would do more open houses so people can actually see the house!

Houses do sell at open houses, from time to time, but it's the less common way. I've had only ONE of my listings sell at an open house in the past year. It's more common for offers to come in as a result of private showings.

I would attribute it to the types of buyers that frequent open houses. You don't just want buyers to come through, you want buyers to come who are ready, willing, and able to buy your house. With open houses, I get a lot of traffic off the signs we post in the area advertising the open house. These people who come in are walk-ins who have no idea about the house other than what it looks like on the outside. They may just be curious to see the house, or even if they are serious buyers, chances are the house is not in their price range or doesn't fit their criteria.

For example, I did an open house the other weekend for a property priced at $627K, and most of the buyers who came through off the signs were looking at the under $500K price point. So we had a lot of people through the door, and they admired the house, but most couldn't buy the house. And the house had a pool, but some buyers who came in said they would never buy a house with a pool. So again, nice that they came, but not going to help the seller.

I also find that a lot of buyers who come to open houses are early in their search process, and not ready to commit to working with an agent, let alone a house! They are in the "market research" phase. In additon, I see a lot of buyers come through who have a property on the market that they need to sell before they buy something new (or people who are just thinking of putting their current home on the market and checking out the competition in the area).

Buyers who come for private showings have seen the house online, and know the price point, the number of beds and baths, etc. They are most often serious buyers who are working with an agent and preapproved for a mortgage. So as an agent, I would rather have 5 private showings rather than have 10 people come through an open house. A lot of buyers coming to an open house is great for the agent working the open house (lots of potential new customers) but usually doesn't benefit the seller that much.

Re: If you are selling or sold your home recently?

the easy answer

96% of homes are sold thru private showings

Re: If you are selling or sold your home recently?

ugh we have not ONE private showing and the house has been on the market for over a month. when we signed with the agent she said she had "clients looking in the area" but not one show yet. We have had 2 open houses, no intrest. we lowered the price. i asked agent yesterday for what we should list at, she talked in cirlces and then said ill have to get back to you, REALLY you have been in my house 3 times, and we have had countless convos, isn;t a number something you should have known WALKING into my house??? This is the first time I am selling, so not sure what she is actually suppose to be doing but she seems way more concerned with getting us a new house. then selling this one. i guess she is hoping we fall in love with a house and then just give away this one.

Re: If you are selling or sold your home recently?

if you aren't getting showings- chances are it's not priced right

it's amazing when a house is priced right how the showings start coming in

I can do all the marketing in the world- but buyers today are very savy-

if you want send me the MLS number and I will check out the listing for you- what else other then MLS is the agent doing?

are the pictures good? the first showing is online- so if they pictures don't make people want to make an appointment- that could be an issue also

Re: If you are selling or sold your home recently?

Truthfully we have been in every instance

We were priced high with few OH planned and hardly any showings


Then we were priced high with OH and had 12+ attendance. (once a month)

Then we dropped our price with steady showings and no OHs

Then we added OH and had 15+ attendance (once a month)

Then we did an EXTREME price drop had showings pretty much all weekend and 2-3 during the week then added in an OH with this price drop and had another one with 15+ attendance.

WE NEVER SOLD.



I cant figure it out!!!

We pulled it off.