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Scoop.it!
Do open houses work to sell a home? Are open houses necessary for a home seller? For years the public has been fooled into believing that open houses are an important part of real estate marketing. In the digital age open houses are worthless. Open houses benefit one party - the real estate agent. 
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Scoop.it!
Hold an open house to increase your odds of getting burglarized. See how holding open houses can be a mistake and why they aren't necessary to sell a home. Open houses benefit real estate agents far more than they do homeowners. Real buyers always schedule showings for homes they are interested in viewing.
Bill Gassett's insight:
For as long as I can remember open houses have been a part of significant percentage of real estate agents marketing plans. Before the internet came to be holding an open house was a worthwhile exercise to give a sellers home additional exposure.
With the advent of the internet that all changed. Buyers are able to freely look at homes online in the comfort of their own house.
When they want to see a home they can easily reach a real estate agent to schedule an appointment. This is what all serious buyers do!
Open houses are no longer necessary and put a sellers home at risk of theft. Many real estate agents unfortunately do not educate their clients of this fact.
Open houses bring anyone through the door whether they are in the market to purchase a home or not. There is no point in a seller having people who are not qualified to purchase or belong in the home.
So why do real estate agents hold open houses? A pretty easy question to answer. They are great activities for an agent to prospect for business whether it is another seller in the neighborhood thinking of selling or a buyer who can't afford the open house but are a buyer none the less.
If you are selling a $400,000 home and the person walking through the door can only spend $300,000 it is pointless. They won't be buying the home.
For a real estate agent, however, this is a person who can buy a $300,000 home elsewhere!
For this reason real estate agents love to push open houses. The problem for the seller is they are magnets for crime. Lots of theft occurs in open houses every year.
If you are selling a home you don't need an open house. What you do need is an exceptional agent who will price your home correctly and market it well online.
Take a look at the article referenced above. It will be an eye opener on open houses.
Paula-Damico-Auger's curator insight,
May 16, 2018 9:36 PM
For as long as I can remember open houses have been a part of significant percentage of real estate agents marketing plans. Before the internet came to be holding an open house was a worthwhile exercise to give a sellers home additional exposure.
With the advent of the internet that all changed. Buyers are able to freely look at homes online in the comfort of their own house.
When they want to see a home they can easily reach a real estate agent to schedule an appointment. This is what all serious buyers do!
Open houses are no longer necessary and put a sellers home at risk of theft. Many real estate agents unfortunately do not educate their clients of this fact.
Open houses bring anyone through the door whether they are in the market to purchase a home or not. There is no point in a seller having people who are not qualified to purchase or belong in the home.
So why do real estate agents hold open houses? A pretty easy question to answer. They are great activities for an agent to prospect for business whether it is another seller in the neighborhood thinking of selling or a buyer who can't afford the open house but are a buyer none the less.
If you are selling a $400,000 home and the person walking through the door can only spend $300,000 it is pointless. They won't be buying the home.
For a real estate agent, however, this is a person who can buy a $300,000 home elsewhere!
For this reason real estate agents love to push open houses. The problem for the seller is they are magnets for crime. Lots of theft occurs in open houses every year.
If you are selling a home you don't need an open house. What you do need is an exceptional agent who will price your home correctly and market it well online.
Take a look at the article referenced above. It will be an eye opener on open houses. |
One of the biggest misconceptions in real estate sales is that open houses are necessary to sell a home. Unfortunately, they are played up heavily by real estate agents who fool the general public into believing they are worthwhile.
Here is the truth: open houses benefit real estate agents NOT homeowners!
They are one of the best ways a real estate agent can meet people and potentially secure future business.
A real buyer on the other hand will always schedule a showing with an agent when they are serious about viewing a home.
What many sellers don't realize is that open houses can be a magnet for crime. They are the perfect way for people to steal the sellers belongings. It happens all the time.
Of course, lots of unprofessional agents never make their clients aware that this happens.
So when a client asks me if an open house works my answer is always the same - they can work great for a real estate agent. For a seller not so much.
The same serious buyers who come to the open house would have scheduled a showing. So instead of just having a vetted home buyer coming through their property they have anybody that feels like it.
Most real estate agents don't explain this and some sellers never give it a second thought. Why would they? They see a bunch of cars and front of a home and think to themselves this must be worth it.
Do yourself a favor and visit the link above that talks about why open houses don't work.
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