Ask a Realtor: Is it worthwhile to hold an open house for my property? (column)
August 24, 2018
Dear Joan: My Realtor won't do any open houses at my property, and I am concerned that is why we are not under contract yet. I see open houses all of the time in our area, with lots of people stopping by to look. Two of the houses that are not too far from me have gone under contract, and I think they both had at least one open house.
I have asked my Realtor to do an open house, but he says it won't do any good, that the Realtors only do that to get other clients, not to sell the home they hold open. Is he right, or just lazy?
Dear Frustrated: He is not all wrong, nor all right.
There are two types of open houses: one for Realtors and one for the public. The one for Realtors may be the most productive for selling your particular property. If you consider every Realtor should have a database of 100 to 250 contacts (some of us have many more), then it is great to get all the Realtors you can to see your property in hopes that they will know of a buyer that might be just right for your home.
In this case, the Realtor holding the open house is definitely not just trying to drum up business for other listings; they are genuinely trying to sell your home with the aid of their fellow Realtors.
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The other type of open house is for the public. The public open house may possibly find a buyer that just likes the neighborhood and didn't know how much they might like the home until they are in it, and this can also bring other potential buyers and sellers to the broker holding the home open.
Both Situations are good
Both are good, and both take a lot of time and effort on the Realtor's part to organize, advertise, set up and take down open house signs and spend hours in your home, showing Realtors and buyers around, extolling the wonderful features of the property.
Have a frank discussion with your Realtor, but realize you may be part of the issue. If your home is overpriced or not kept tidy or clean, then no one will want to do an open house there.
It takes cooperation and effort from both the seller and the Realtor to make open houses a part of your marketing campaign. Hope your discussion goes well.
Joan Harned is an owner and broker for Keller Williams Mountain Properties and heads up Team Black Bear, her own real estate team. Contact Harned with your real estate questions at email@example.com, 970-337-7777 or http://www.skiandteehomes.com.