Al and Cal Homes and Community: Does the Open House have a Place in Todays Real Estate Market?

Does the Open House have a Place in Todays Real Estate Market?

Does the Open House have a Place in Todays  Real Estate Market?

While practicing real estate south west of Boston for the past 24 years, I have made a habit out of holding open houses if at all possible, on any given Sunday.  :)  

If you look at the number of open houses each Sunday, and then the number of those that have sold soon after, you might think that the open house is ineffective.    Possibly.    But,    in my opinion the open house does have a place and serves a purpose in the buying or selling of a home and this is why. 

Open House

Over the past couple of years, technology has transformed the world, the way we receive and view information, and of course, the real estate industry has followed suit.   Gone are the days where your Realtor would choose properties for you to see and drive you around in the car for hours at a time.    Gone are the days when you might not be able to view a home, but for an open house on Sunday afternoon.

Today, information is at your fingertips.    Photos and visual tours of well showcased homes are available to view at anytime of the day or night, while in your PJ's or on your lunch break.   No need to miss that birthday party to see that home, when you can view it on line.   

But, Realtors are masters of making their homes appear more or less than what they are.   Buying a home is emotional.    It is after all where you will hang your hat, where your children will attend school, where you will become part of a community and a host of other things that are too much to list.    


What then of the traditional open house?          Does it have it's place in today's fast paced real estate market?     Does it benefit a Buyer or a Seller or Both?  

 

The Benefit to Sellers

It is effective in getting your home exposed to potential purchasers that may be just casually searching.   Priced right and staged correctly, it could steal the heart of someone that might never have come to see it,  ruling it out because it got lost in the sea of homes promoted on line!     It could get another Buyer in the door, whose agent was not available to take them out that day.    And, what about those nosy neighbors?    Do you know that on two separate occasions I have sold a home to folks that lived less than five houses away?  We promise to leave no stone unturned in looking for a potential purchaser.    This could very well be one of those stones.    It is simply another tool to gain exposure!


The Benefit to Buyers

Is similar to those of sellers.    Like I have said before, we Realtors are quickly becoming masterful in the art of photography!    Many homes are different in person.   Fact is while photos and visual tours are a wonderful start, it is very likely that you may rule something out that you would love if you saw it in person!    An open house is also a great way to strengthen your market knowledge.  Getting to see homes in person, helps one to learn what is really important to them in housing.     And, what about a subtle interview in your search for a real estate agent?    Do you know that this year, I have been lucky enough to be selected by two different buyers by meeting them at open houses?    Unbeknownst to me, they were conducting their own face to face interview!   Very smart.


At the End of the Day.

Will it sell your home?   Is it likely that you will walk into an open house and find that it is the "one" for you?   Statistics show probably not.   But, every situation is different and if it adds to a well thought out marketing plan or to enhance  your home search, then it may be just worth the time and effort.

Making a Real Estate Move?   

Let me put my experience to work for you.     I will leave no stone unturned in marketing your home.    If you are buying a home, I will make sure you know everything and see everything you need to in order to make an informed decision.    Give me a call!  

Carol-Ann Palmieri     508-494-9061       Cal@alandcal.com

 

Carol-Ann Palmieri

Al and Cal Realty Group

Remax Executive Realty

www.AlandCal.com

 

Cal@AlandCal.com

 

508-494-9061

 

Comment balloon 22 commentsCarol-Ann Palmieri • January 15 2012 05:26PM

Comments

Carol Ann...I also believe they still have a place in our business.  There really is no substitute for seeing consumers face-to-face.

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) almost 7 years ago

We still do them and hold auction in the same style and they work even better.

Posted by Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl. (Charles Stallions Real Estate Services ) almost 7 years ago

I agree with you that a virtual tour is only the first step... nothing beats a physical tour of the property to see if it's the right one for you.

Posted by Peggy Hughes/pha logistix, inc., SF NYC LA (pha logistix inc) almost 7 years ago

I agree with Anita -- personal contact is the best.   High tech can help you get them to the open houses, but they gotta go to really feel the home.   I think open houses will have more buyers this year as buyers are out on their own looking.   Nice way to pick up both sides of the commission.

Posted by Bud & Beth McKinney, Cary/Raleigh/Apex NC - The Team That Cares, RE/MAX United (RE/MAX UNITED) almost 7 years ago

Good post Carol Ann.  I think they still work and there is value to open houses.  It's also a guage on how well it it priced if you get the crowds you expect.

Posted by John F Muscarella, Broker/Owner, Venice, FL, Florida's Suncoast (RIVER FARM PROPERTIES, LLC) almost 7 years ago

Hi Anita.   I agree.   Nothing beats in person.   Thank you!

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) almost 7 years ago

Hi Charles.   That is interesting!   Thank you.

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) almost 7 years ago

Hi Peggy.    All that stuff is meant to get someone in the door.   Sometimes I feel it keeps them away. 

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) almost 7 years ago

Hi Bud and Beth.  I agree.   Seems to be more popular the last few months.    Thank you.

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) almost 7 years ago

Hi John.  That is a really good point.   Thank you!

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) almost 7 years ago

I believe that opens still have a huge place in Real Estate.  Do they sell the home, maybe...maybe not, but you can't leave any stone unturned.

Posted by Brenda Mullen, Your San Antonio TX Real Estate Agent!! (RE/MAX Access) almost 7 years ago

I stopped after 2 years with no results. In my rural market the subject property better be close to a major road or be prepared for no shows.

Posted by Doug Rogers, Your Alexandria Louisiana Agent (Bayou Properties) almost 7 years ago

Carol Ann...I do think it varies from market to market but if they are working for you, keep up the good work!

Posted by Christine Smith, Exclusive Buyer Agent & Attorney, Canton, MA (Buyers Brokers Only LLC - www.BuyersBrokersOnly.com) almost 7 years ago

CArol Ann, the tech world has it's place, as does an open house. And some have far better results than others. Even in my neck of the woods, how well an open house does can even depend on the particular neighborhood.

Posted by Chiara Petro, Your KEY to Home Sweet Home - Knoxville TN (Realty Executives Associates) almost 7 years ago

Terrific post Cal, very well said. and even with all this technology around Real Estate is still a people business.

Posted by Al Raymondi, Ormond By The Sea Florida - Home and Condo Sales (Ocean View Realty Group in Ormond By The Sea Florida) almost 7 years ago

Hi Carol Ann,

You pose a very tough question. I think havng an open house makes the entire neighborhood aware that the home is avaiable. This is a good point and just maybe the information gets to a buyer who then sets up a viewing with their Realtor. I believe it really can't hurt a homes chances of getting sold and it might help.

Now from my personal side, I have gotten to the point where these open houses are a total waste of my time. I have not held one for a couple of years as I was getting absolutely nothing in return but spending several hours in a home as a baby sitter. This of course is just my perspective. The head of our office last week at a meeting was trying to convince all of us about all the great leads we will get by holding an open house. No one in that meeting seemed ready to jump on that train.

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) almost 7 years ago

Hi Brenda.  Thanks for looking in and commenting!

 

Hi Doug.  I guess each market place is different and I can see where it would be not effective in a rural area.  Thanks.

 

Hi Christine.   This year, so far so good.   Thanks.

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) almost 7 years ago

Hi Chiara.   Excellent point!   Thanks.

 

Hi Al.    I do love meeting people!   Thanks!

 

Hi Bob.    There have been times in the past few years that I thought the same thing.   Lately, they seem to  have become more popular here for some.   I know what some owners/managers say, but I never count on getting a lead that way, although recently my luck has changed.   Thanks again.

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) almost 7 years ago

Carol Ann, great post on a much debated subject...i love open houses....it allows my clients to view houses they can easily rule out and i do them so buyers don't waste my time on showings...if it suits them this is the best way to showcase a home still in my area.  Plus you never know when a seller is evaluating your skill sets for a future sale.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) over 6 years ago

Every real estate market is different. If the open houses work, super. If the traffic is high enough in that two hour span and the secondary gain of relationships formed aside from the actual mission of peddling the property, this one deal, great. But think of hundreds, thousands of buyers seeing the place, hearing about it and able to observe what you are looking at out the back patio. From the front, side, rear yard. And in the course of a few minutes they have been totally inside, outside, and up, down the property listing. No carpeting that needs steam cleaning either. Your buyers on line can leave their shoes on without fear of a well worn dirty path through the living room when hundreds, thousands of tours happen around the clock. And the "open house" is one of 8 other houses you offer on the buyer's schedule no matter where they are on the earth with the magic of real video. Better informed, getting down in the cellar, up in the attic, seeing how close zero lot lines really are. And avoiding the actual tour because of it so the seller does not peek through the venetian blinds and wonder why are they driving the jeep in, back out without taking the walk through? Videos show what you are buying and nothing to worry about over selling what actually is there.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 6 years ago

Carol Ann,

Excellent post ....your thinking is so aligned with mine when it comes to open houses. I've sold many homes by holding open houses and have also met many new clients through open houses.

Jo

Posted by Jo-Anne Smith over 6 years ago

Hi Carol,

Thanks for your response to my comment. I hear through the grapvine open houses lately in this area are actually drawing som folks out to view the home. I will have to rethink whether I will try it again. This is an excellent blog about this debatable topic.

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) over 6 years ago

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