Main Line Homes Blog

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Why you should have an open house!

There are many opinions on holding a public open house and discussion about whose interest it is to hold one.

Going on past experience 75% of the homes we have sold in the last few years have sold to people coming through the open house.

Living room

Everyone knows that the majority of home buyers today look on line.Many are not using an agent but are actively searching for a home. The photos and videos on line give them a great first impression if they are well done, and maybe in some areas would provide enough for a site unseen offer, but so far our market is not experienceing that. These potential buyers want to see the home.

Now they could call the listing agent and ask for a showing. But as yet they may not want to put their hand up and be identified as a potential buyer. So, for them it is important to hold open houses so they can continue to remain anonymous and comfortable.

I had a home three years ago I was listing, first open house this lady comes in on her own, takes about an hour walking through the house, had some questions and yes, she had an agent but likes looking on her own. I call the agent, the following day, your client came through my open house. Really. She looks but so far hasn't found what she is looking for.

Following week, at my open the same lady turns up, this time with her daughter. Again she spends a good amount of time in the house.

That week she goes through with her agent.

The following Sunday she is back again, spends the whole afternoon with me, sitting in the living room enjoying the home.

That week she presented us with an offer. She felt comfortable coming to the open houses alone without her agent, getting to spend time in the house, planning what she was going to do with the house and making sure it was going to work for her. Would she have felt comfortable making that many appointments? Maybe not, but I believe the open houses sold that home.

Sold

I am a big believer in them and advise all clients who are listing to make the effort to allow us to hold Open Houses so today's buyers can see the home in person.

 

If you want to get your home sold in Tredyffrin Easttown contact Nick Vandekar, Tredyffrin Easttown Realtor Selling The Main Line with Long & Foster Real Estate Inc., Nick@VandekarTeam.com, office 610-225-7400, cell or text 610-203-4543, website www.SellingTheMainLine.com.

 

If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you,  contact us or connect

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Comment balloon 28 commentsNick & Trudy Vandekar, 610-203-4543 • September 27 2017 08:20PM

Comments

We are holding open houses for one of our listings. It is located in high traffic area and has the potential for easy drop-in visitors. We don't always do an Open, but when it makes sense, or the client insists, we'll do it. 

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) 3 months ago

Open houses are a wonderful way to reach out to anyone and everyone! It's important to let your client know how important they are to getting their house sold.

Posted by Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900!) 3 months ago

FANTASTIC viewpoint, Nick and I have to say that I agree with you wholeheartedly! With this market, it's a wonderful way to host an initial Open House when the home goes active and it always seems that the ultimate buyer comes through- whether with their agent, without their agent or without an agent altogether.

Happy Wednesday, Nick!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 3 months ago

Nick I am all about holding Open Houses those who disagree well it is their loss... I have written a few posts about this subject but you know if you made up your mind I can not convince you attitude comes into play...Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 3 months ago

This is a subject that will continue to be debated. I've never sold a listing as a result of an open house and don't find them to be an effective method to sell my properties. But if they work for you that's great... and you have a reason to cntinue to do them.

Posted by Nina Hollander, Your Charlotte/Waxhaw/Fort Mill Area Realtor (RE/MAX Executive | Charlotte, NC) 3 months ago

Nick, open houses around Denver will be a hit or miss event.   If it is in a great location for signage, there may be good traffic, but I have only sold one home in 21+ years off an open house.

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) 3 months ago

Debb Janes EcoBroker and Bernie Stea JD I agree when it makes sense, and I won't do them every week, but past experience makes me a believer.

Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900 we have found them to be an important part of our marketing. We recently held an open house before a home was in the MLS, using Zillow's coming soon and Facebook and we had 20 groups come through, we sold the home in 3 days with 11 offers, admittedly in this case to someone who did not come through the open house. But many of our offers came from those open house attendees.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 3 months ago

Debe Maxwell, CRS my open house also gives me the chance to regale them with my accent as well, always good for an extra $10,000 ontheir offer, wink, wink.

Endre Barath, Jr. I know you are a believer like me. As you say thier loss, what works for me does not work for everyone.

Nina Hollander we have agents who swear blind by doing floor duty and answering our office phone, I have never found it useful. But we are all independant and therefore can choose what to do when we decide what works for us. It is what makes this an interesting business. Some don't believe blogging works...can you believe that!

Joan Cox sometimes they are here as well, but overall my results are positive. Doesn't mean I don't occasionally have a dud day. I just know I am that much closer to having a winner next time.

 

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 3 months ago

How wonderful that the woman had the opportunity to spend so much time at the house. She is lucky some other buyers didn't put an offer in first after only seeing it once.

Posted by Sharon Tara, New Hampshire Home Stager (Sharon Tara Transformations) 3 months ago

Open houses work so well in some areas, not so well in others. It also depends on how astute the agent is in preparing to have one and presenting it.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) 3 months ago

Had a buyer come to an open that I was doing. She wasn't working with anyone and looking for a home around $250,000. Found out we were of the same faith, so it was easy to connect with her. That was not the right house for her family but I did end up helping her buy a home that ws $650,000 !!! You must never know who is going to walk through the door. 

Posted by Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA, Providing the integrity and service you deserve. (Future Home Realty) 3 months ago

I get the feeling that the buyer you are talking about did what was right for her.  Looking and getting a ""vibe"" without a agent talking about the attributes of the house is much less distracting.  Ever go to a car lot and start looking at the inventory??  Without a salesman trying to talk in your ear the procedure goes much smoother.

In my world I will check out open houses when I can so if/when they sell I have a much better idea what the condition and upgrades are if I use it for a comp.  I do identify myself as an appraiser so the agent is aware that I am there more for information gathering then interest in buying.

Posted by Anthony Vosilla (Tony's Appraisal Services) 3 months ago

Good morning Nick and Trudy.  Open Houses that do well in my area are typically those that are in desirable communities and are well staged.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 3 months ago

While we have team members (instead of us) sit open houses - this is a great point about how open houses gives prospective buyers access on their own time so they can fully consider the property!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) 2 months ago

I assume the value and perhaps quality of open houses varies by market.  Here in Seattle, they are indispensable.  Not having an open house doesn't even enter consciousness as a possibility.  That said, many agents don't like hosting them, so I often volunteer my time.  If it's an off weekend or a sub-par listing, it can get slow and boring, so I always bring my laptop and a good book.  There's always something I could be catching up on.  More often than not, however, there's a reasonable if not vigorous stream of people coming through.  Obviously, this is a good way to pick-up new prospects, but it's also a great way to learn about the market and what other properties are currently on the market FROM THE BUYER'S POINT OF VIEW.  I love asking questions and , to me, open houses are an opportunity to host one or two focus groups every weekend.  I find the information invaluable.  We brokers spend a lot of time being informed by the same information.... MLS data, pertinent newsletters, and the like... this is life inside the bubble.  It's great to have that information, but it's much more practical and useful when considered alongside the perspective of the client-side.  Just my two cents. Have a great day and thanks for sharing!

Posted by Chris Kallin, Broker (SeattlebyDesign / Realogics) 2 months ago

Hi Nick and Trudy - from the comments here it sounds like their are many variable in each area.  You have found the right combination for yours.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 2 months ago

Sharon Tara different market then and yes she was lucky.

Debbie Reynolds that is true there are so many variables, the market, weather, what else is going on etc.

Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA my very first open for Trudy when I came in the business the same thing, it was a $375,000 listing and they ended up buying a $700,000 home.

Anthony Vosilla don't get me started on car buying, e don't see many appraisers going round opens, lots of mortgage people though.

Gabe Sanders sounds like they have to look attractive on line first.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 2 months ago

Tony and Suzanne Marriott, Associate Brokers once we explain this to sellers most get it, we also don't do dual agency, so if a buyer comes along we are there to firstly sellthe house we have open, only after that will we consider if they might want to work with us to find other properties.

That is very good way of putting it Chris Kallin market reserach, yes we do live in a bubble and it is good to hear a different opinion.

Grant Schneider that is what makes this business interesting the variables.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 2 months ago

I have sold a few open houses because of the open house. Lucky enough to get a couple buyers for them. I used to have a guest book but now have guests sign a book if they want to be notified of the status of the house after the open house. They can put their agent's name if they are working with one or I can work and represent them. The one's I sold and representing the buyer, I was able to notify them immediately if the price was reduced. Within couple days an offer was made and closed in a few weeks. Doesn't happen all the time but it did a few times. Timing is everything.

Posted by Theresa Akin (CORPUS CHRISTI REALTY GROUP) 2 months ago

Thank you very much for sharing your experience and your advice.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 2 months ago

Theresa Akin thanks for stopping by, sounds like you have a positive experience of open houses, as you say not everyone hits it out of the park.

Roy Kelley thanks for your comment

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 2 months ago

Years ago, I was trained as an athlete by my position coaches to develop the skills necessary to become a champion. The first lesson was attitude and belief. If you believe and train to master the skill, regardless of the task, you'll achieve your goals more often than not. It works, even for open houses. Great post.

Posted by Kimo Jarrett, Pro Lifestyle Solutions (WikiWiki Realty) 2 months ago

Kimo Jarrett I think your mindset makes a big difference to how any event or meeting goes. Like training for a match or competition, your mindset is important.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 2 months ago

I love this blog post. It is written with honesty. In addition, I found that people going through open houses, aren't just looking for houses, they are interviewing and making decisions on who they want for their future Real Estate agent. Anytime we are in the public eye, we must be professional, which of course, is always true of you!

Posted by Patricia Feager, Selling Homes Changing Lives (DFW FINE PROPERTIES) 2 months ago

We have sold at Open Houses, but it rarely happens.  We only hold them if the seller wants us to. Most times here only 1 or 2 "looky loos" show up. If it was like the ones on reality TV where the crowds line up to get in...we would do them more often.

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) 2 months ago

Nick and Trudy

Open houses are working for us in South Florida.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) 2 months ago

Open houses work. Like you said, buyers come without their agents and have the time to spend getting the feel for the home. 

Posted by Dave Halpern, Louisville Short Sale Expert (Keller Williams Realty Louisville East (502) 664-7827) about 2 months ago

In our area that is often the only opportunity buyers will have access to a hot property.  Most are anxious and ready as they were turned down before. This year they jump on the opportunity to make a best offer before it gets to a pending status in a few days.

The no OH allows offers not coming in same time and offerers have a 24 hour,12 hour expiration not to be used againt others.

Posted by Sam Shueh, mba, cdpe, reopro, pe ( (408) 425-1601) about 2 months ago

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