I would just like to make a few things clear about For Sale By Owner Open Houses and some common misconceptions. One thing that really upsets me is the realty programs basing everything on a deadline of an open house. In real life THIS IS NEVER DONE! A house is rehabbed and finished and then the open house is scheduled. There is no media that needs to be scheduled that would dictate such a deadline. The TV shows need to add that for drama. I have never seen face painting by a clown for the children that come to the open house as if it were a carinivale.
Another regarding the reality TV shows, is a consistent multiple offer situation above selling price at every single open house. Open houses according to statistics are sold only 8% of the time. Don’t get me wrong if you are a TV reality home rehabber and have your own show, this will probably create a large crowd to view your home. In real life we are just ordinary people and are not going to be able to put our open house viewers on TV. I have never seen face painting by a clown for the children that come to the open house as if it were a carnival.
A large turn out at an open house means the home will sell. All people coming to the open house are serious buyers like on realty TV. Many
are just nosey neighbors, people driving by and are just curious and buyers just starting to look that are not even prequalified, which means they do not even know what they can afford. The only really serious buyers are if they are coming with an agent.
There are always tons of open houses on the weekends so they must sell homes otherwise brokerages would not do them. I have worked for a national brokerage chain where we were required to do open houses every weekend. This is a good strategy for the brokerage. It gets the broker’s name out in the public as many places as possible. It is really a great marketing tactic for them.
Agents do open houses so it has to be effective. Agents do open house for marketing reasons as well. When people come in thru the open house and they are not working with a broker, they are now a potential client. I always had other listing to show them as well as all my marketing handouts with me to offered my services. This is another perfect situation to market the agent to new clients.
Although, if a house is priced correctly and the right person comes along it can sell according to statistics 8% of the time. Rarely, at just a viewing of an open house does a multiple offer situation occur.
At iRealty Flat Fee Brokerage we will advertise your home on the MLS as well as multiple real estate websites for the general public to be aware of your .For Sale By Owner Open Houses This can be scheduled and rescheduled at not charge to our clients. We just don’t want our clients to be disappointed that it is not the same as on reality TV.