With the market downturn, and much less foot traffic for open houses, I was 'one of those agents'.
I even had a subdivision listed from 2005-2008 where we would go DAYS without seeing anyone stop by. 'Open houses don't sell houses, they just make the seller feel like the agent is working'. Isn't that a statement we've all made at one time or another? I even have statistics in my listing presentation demonstrating that open houses are one of the least likely things an agent can do to generate a sale.
I was wrong. Ok - I'll say it again for those of you who (a) want to revel in the fact that I am admitting it or (b) were operating under the same belief system that open houses don't work. I WAS WRONG!
I am holding an open as I write this blog for 1454 Heaven Drive in Sparks, Nevada. From the moment I opened the door until now - 2:45pm - I have had a steady flow of families and couples through. Even moreso, another 3 cars have come and gone and I keep taking a break from this blog to greet people, answer questions, and qualify prospective buyers . The foot traffic has been steady. But here's the more important part - 4 of the 5 sets of people that have come through are BUYERS - and they are BUYERS TODAY!
Since open houses are so much farther and fewer between these days, I think that the possibility for foot traffic is higher. Consumer confidence is up. 90% of economists today predict the recession will be over in either the 3rd or 4th quarter of 2009.
The people that have come by today are ready to buy. There are at least 2 of the couples that came in that are calling their lender and getting pre-qualified this afternoon in preparation of writing an offer.
It's official. I am changing my direction on Open Houses. I am putting them back into my quiver of home-selling techniques. They are back and good quality buyers who are ready to make something happen are here. Have you given an open house a try in your area? I suggest you do.
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - Realtor with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate and Northern Nevada Real Estate .
Here in Upland, CA I have had as many as 80 people come to a well planned Open House. The market here is moving so fast with multiple offers on almost all listings. Open Houses definitely bring out the Buyers!
Was it because of the house, price range, neighborhood? I am surprised, but pleasantly at the success, and would love to hear more. Did you advertise in print several times, only online, were there other open houses in the neighborhood?
Great questions, Heather. The house was nice, but vacant. Some furniture was left behind and was staged. The neighborhood is an older neighborhood of Sparks, Nevada - this house was in-fill and built 15 years ago. The price ($399,000) is higher than new construction down the street at $260,000 from builders....I did not advertise at all in print but instead blanketed the internet. There were NO other open houses in the area.
Christianne,
Absolutely, there's a lot more activity especially with interest rates where they are,
Amen, sister! People may think I'm nuts, but I've always been a big fan of a well-planned open house. In this day and age of electronic marketing it's one of the few ways of pulling in folks face to face and I love it. On weekends when I am not holding an open house, I will tour other open houses if I didn't get a chance to see them on broker tour.