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Honored Contributor
Posts: 20,019
Registered: ‎08-08-2010

Re: People searching for homes


wrote:

@panda1234

 

Open houses are one tool in the toolbox to use when trying to sell a home.  Obviously, many people here (and their agents) seem to be operating in an era of easy-sell real estate.  This environment does not always exist, just because it has in the past several years, in many parts of the U.S.

 

Take one selling tool out of the toolbox to attract certain types of buyers and you remove one more possible chance to find exactly the buyer you want who will make the best offer.

 

Buyers are NOT always that easy to find. We have to do all we can to help buyers easily find what is being offered for sale.  We also have to make it as painless and noncommital as possible to let them see what's for sale.  

 

I don't care whether my seller-client wants me to hold an open house or not, but I'm  certainly not going to be the one who suggests removing that tool from the toolbox.

 

This topic is somewhat amusing when matched up with complaints from some sellers that their agents "haven't done enough or don't do enough" to get their homes sold.


 

I might be old fashioned, and admit I last sold a house 23 years ago (and things in the industry have really changed at that time), but the point about using every tool at one's disposal is correct. 

 

I understand if a seller chooses not to have open house, but I know if I were selling, I'd want it. 

 

I'm sure the statistics are right about the percent of homes that sell (or don't!) as a result of an open house directly, but I find it to be a possible connection to a sale. 

 

A realtor may attend and have a client they know would be interested. A looky loo may tell friends and family that could be interested. A serious looker might decide it isn't for them, but know someone they may refer the home to, who is a more suited candidate for purchasing. Those nosey neighbors just wanting to see what you have/how you live, just might decide they know someone who would like your home.

 

If I'm serious about selling, I want as much exposure as possible, and honestly, there isn't anything like actually touring the home/property/neighborhood in person. And open houses are nice because you get a lot of people through at one time, rather that having to leave your home many times for individual showings. 

 

@novamc1

Honored Contributor
Posts: 25,929
Registered: ‎03-09-2010

Re: People searching for homes

When you live in a gated community an open house just brings in the neighbors.

Respected Contributor
Posts: 3,875
Registered: ‎04-27-2015

Re: People searching for homes


@novamc1wrote:

@panda1234

 

Open houses are one tool in the toolbox to use when trying to sell a home.  Obviously, many people here (and their agents) seem to be operating in an era of easy-sell real estate.  This environment does not always exist, nor does it last forever.

 

Take one selling tool out of the toolbox to attract certain types of buyers and you remove one more possible chance to find exactly the buyer you want who will make the best offer.

 

Buyers are NOT always that easy to find. We have to do all we can to help buyers easily find what is being offered for sale.  We also have to make it as painless and noncommital as possible to let them see what's for sale.  

 

I don't care whether my seller-client wants me to hold an open house or not, but I'm  certainly not going to be the one who suggests removing that tool from the toolbox.

 

This topic is somewhat amusing when matched up with complaints from some sellers that their agents "haven't done enough or don't do enough" to get their homes sold.


@novamc1When you hire a realtor, they are the professional and I believe you should go with what they say. They set the price, suggest improvements and setup the marketing of the home. I have bought and sold five homes in my lifetime. When selling my parent's home the realtor said no open house, this was odd. Well, she had it sold for the full price in three days. Sounds like she had a buyer and did not want the open house. Just a side note, I thought it would be a hard sell just because of the way it was set up, what a surprise.

Respected Contributor
Posts: 3,875
Registered: ‎04-27-2015

Re: People searching for homes


@Mominohiowrote:

wrote:

@panda1234

 

Open houses are one tool in the toolbox to use when trying to sell a home.  Obviously, many people here (and their agents) seem to be operating in an era of easy-sell real estate.  This environment does not always exist, just because it has in the past several years, in many parts of the U.S.

 

Take one selling tool out of the toolbox to attract certain types of buyers and you remove one more possible chance to find exactly the buyer you want who will make the best offer.

 

Buyers are NOT always that easy to find. We have to do all we can to help buyers easily find what is being offered for sale.  We also have to make it as painless and noncommital as possible to let them see what's for sale.  

 

I don't care whether my seller-client wants me to hold an open house or not, but I'm  certainly not going to be the one who suggests removing that tool from the toolbox.

 

This topic is somewhat amusing when matched up with complaints from some sellers that their agents "haven't done enough or don't do enough" to get their homes sold.


 

I might be old fashioned, and admit I last sold a house 23 years ago (and things in the industry have really changed at that time), but the point about using every tool at one's disposal is correct. 

 

I understand if a seller chooses not to have open house, but I know if I were selling, I'd want it. 

 

I'm sure the statistics are right about the percent of homes that sell (or don't!) as a result of an open house directly, but I find it to be a possible connection to a sale. 

 

A realtor may attend and have a client they know would be interested. A looky loo may tell friends and family that could be interested. A serious looker might decide it isn't for them, but know someone they may refer the home to, who is a more suited candidate for purchasing. Those nosey neighbors just wanting to see what you have/how you live, just might decide they know someone who would like your home.

 

If I'm serious about selling, I want as much exposure as possible, and honestly, there isn't anything like actually touring the home/property/neighborhood in person. And open houses are nice because you get a lot of people through at one time, rather that having to leave your home many times for individual showings. 

 

@novamc1


@MominohioAs far as the nosey neighbors, they don't have to attend an open house, they can go on Zillow and look all they want. 

Respected Contributor
Posts: 4,932
Registered: ‎07-02-2015

Re: People searching for homes

[ Edited ]

@panda1234

 

Oh, gosh, I can hear it now in my head because I've heard this accusation about real estate agents too many times.  Sometimes it has a strong ring of truth.

 

You say the agent in the sale of your parents' home said no to holding an  open house and then sold to an already-known buyer in three days.  The cynics would say the agent had a "buyer in his/her pocket" and wanted to shut out all other potential offers, so the agent could earn a double commission on the sale.

 

Then the next question is, was the very best price achieved for the property if no other offers were vigorously pursued and placed in a competitive situation?

 

I sold my own house recently with one phone call to the most likely buyer on the planet, but could have put it on the open market and gotten many more offers (which actually I did have from two other interested buyers already living in the area).  I had the advantage, however, of knowing approximately the amount of money I'd have received either way, so I took the shortest distance between offering for sale and actually selling.

 

Glad it worked out for you if you are satisfied with the outcome.  Not all folks are so satisfied with the outcome in the same scenario, once they step back and think about how it came about. 

 

Then they begin to wonder if they could have done better on the price with a little more marketing and a little more time being  exposed on the open market.  Many times the answer is "NO", but who really knows for sure?

Respected Contributor
Posts: 3,875
Registered: ‎04-27-2015

Re: People searching for homes


@novamc1wrote:

@panda1234

 

Oh, gosh, I can hear it now in my head because I've heard this accusation about real estate agents too many times.  Sometimes it has a strong ring of truth.

 

You say the agent in the sale of your parents' home said no to holding an  open house and then sold to an already-known buyer in three days.  The cynics would say the agent had a "buyer in his/her pocket" and wanted to shut out all other potential offers, so the agent could earn a double commission on the sale.

 

Then the next question is, was the very best price achieved for the property if no other offers were vigorously pursued and placed in a competitive situation?

 

I sold my own house recently with one phone call to the most likely buyer on the planet, but could have put it on the open market and gotten many more offers (which actually I did have from two other interested buyers already living in the area).  I had the advantage, however, of knowing approximately the amount of money I'd have received either way, so I took the shortest distance between offering for sale and actually selling.

 

Glad it worked out for you if you are satisfied with the outcome.  Not all folks are so satisfied with the outcome in the same scenario, once they step back and think about how it came about. 

 

Then they begin to wonder if they could have done better on the price with a little more marketing and a little more time being  exposed on the open market.  Many times the answer is "NO", but who really knows for sure?


@novamc1  It was priced fairly according to the comps. She was even taking inside pictures before I could get the place in order....didn't like that. You are right, she most likely had someone in mine. Bottom line it was sold for asking price in just a few days.

Valued Contributor
Posts: 869
Registered: ‎03-13-2010

Re: People searching for homes

Reality TV!

Honored Contributor
Posts: 9,139
Registered: ‎04-16-2010

Re: People searching for homes

Well, DH and I will be members of that group next year. We're going to rent the one we are currently in. I just need to figure out where I want to live as DH will fly home on the weekends/drive home on the weekends. 

 

I've lived all over the US and honestly, I don't know WHERE to look because areas that were once great are now....not so great. We need excellent medical care but don't want to be in the city. Want the 4 seasons but not sure we want the chaos that comes on living on the East Coast (traffic) which is where we are now. Lower cost of living would be great but often you give up quite a bit for that lower cost of living (there are reasons why it's cheap to live someplace). My biggest fear is we'll buy a place that we love and then....it will build up like crazy making it a place we hate (which is what is now happening where we are. OMG it's crazy!).

 

I hate moving.

Honored Contributor
Posts: 25,929
Registered: ‎03-09-2010

Re: People searching for homes

@SahmIam Very often the reason the cost of living in an area is low is because there isn't a lot of industry there. Not a lot of jobs. However,if you are retired and living on your SS and pensions etc. what do you care about if an area has many jobs? Where we live now the main industry is service jobs for retirees.There is no industry here.The COL is low. 

Esteemed Contributor
Posts: 6,622
Registered: ‎10-21-2010

Re: People searching for homes

I love where I live. We have top notch hospital. Our city is growing like a weed. There are lots of good jobs. Several big mfg plants. We have a GM and a Michelin plant. My dad just retired from Michelin. We are one of the lowest cost of living states out there. So I don’t think that comment is true. We are the second biggest city in Indiana. Where I live there is everything anyone could want.