Should My Listing Agent Have an Open House
There is a little secret your listing agent won’t tell you about open houses. They really are not a great way to sell your home. Open homes have been, for the longest time, something that a listing broker, even luxury brokers, uses for two things. First it is a great pacifier for a seller. There is nothing worst than a seller sitting on their home and think the listing broker is not trying to sell their home. The seller begins to think the listing broker is not doing enough. That is why the broker feels they should have an open home. Although the listing broker is doing a great deal of work behind the scenes to sell the home that the seller doesn’t see. The open house is tangible event that the seller can see as an effort for the listing Realtor to bring a massive amounts of buyers to see their home. Unfortunately a very small percentage of homes sell from an open house. Single digit small.
The open house is mostly for the listing agent. How can that be? Well it’s pretty clear, it is for the listing agent to get buyers. When the public shows up to the open house they sign up either on the agent’s Ipad or on a sign up sheet. This is a fantastic way for the listing agent to pick up buyers and yes to sell them a home but most likely not the one they came to for the open house. Most buyers look at about 10 homes before they purchase so most likely the odds of it being the one that is having an open house that day is not likely. They will buy one in the future from the agent that just took their phone number and email to put in their pipeline.
Another small issue with open homes in security. Usually it is only one real estate agent agent at an open house. They are usually outnumbered by buyers most of the time. It is hard for the agent to keep an eye on that many people they are just roaming around your home. Be sure to hide all valuable and even your prescriptions. When you have formal showings it is much easier for the agent to keep an eye on their clients and they aslo most likely have information and have vetted the buyers before taking them to see your home.
This is something to think about before having an open house at your one bedroom condo or your luxury home. Open houses aren’t always the best option. Maybe a broker open that is closed to the public and for Realtors might be a better option for you home.
With that being said Orson Hill Realty does have open houses for their their listings and do their best to minimize security risks and to sell the listing.