Ask Candy: How Many Lookers Should Be at an Open House?
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A reader writes:
Candy, we have had our home on the market now with a top-name agent (according to the “Best” lists, not someone I have seen on your blog) who has held a few open houses. Two to be exact. Our home has been on the market for over three months, no nibbles. My question is this: how many people should you expect at an open house?
Isn’t a Real Estate agent’s real horsepower in networking and connecting to lots of other agents who know other agents and buyers who might be interested in buying my home?
We have had 15 people max at each Open House (two). One was cancelled due to the weather.
Is that normal? I really do not know. I wonder if other sellers think about this, too, and hope you can tell me what we should expect in terms of a good turn out that is indicative that our agent is working hard for us. We are inside the 635 Loop. Thank you.
Oh boy, that’s a tough one. It depends on your location, obviously, the further out one lives the fewer lookers you will have in the boonies, say. That’s why you usually don’t see agents jumping to take on far-away ranch properties.
I go to a lot of open houses. The weekend/evening events are the best, and many agents have food, wine, and entertainment. Some will have drawings for gadgets like i-pads, all to draw you in to see their property and spread the word.
I’m going to say that a good agent should be able to pull out 60 to 100 people per open house. Please pipe in and tell me if I am on base, off base, or if the base has taken off for Oz.
Update, 3:21 p.m: agents are calling to tell me I must distinguish between an EVENT for a home, with food, music, booze and maybe some kind of gift, and a regular Joe weekend open house. Depends on high rise or single family prop, too. For these 15 to 20 is an acceptable turn-out. But this discussion is only beginning. Feel free to text, call or email your thoughts.
Interesting question!
Interesting question!
Interesting thought…having an "event" with food, music, booze, etc. My house is currently on the market and I feel like one of its best attributes is for entertaining (very open floor plan). It seems like an event like that would certainly be good at showing off its best characteristics.
How is an event like that marketed? You typically only know when an "open house" is happening for a house, as opposed to a "boozy party" 🙂
Interesting thought…having an "event" with food, music, booze, etc. My house is currently on the market and I feel like one of its best attributes is for entertaining (very open floor plan). It seems like an event like that would certainly be good at showing off its best characteristics.
How is an event like that marketed? You typically only know when an "open house" is happening for a house, as opposed to a "boozy party" 🙂
James, the agents have these events to market certain listings, usually the higher end ones. They invite other agents, neighbors, everyone. If your home has a great entertaining floorplan, this is the way to showcase it by all means!
James, the agents have these events to market certain listings, usually the higher end ones. They invite other agents, neighbors, everyone. If your home has a great entertaining floorplan, this is the way to showcase it by all means!
It still boggles my mind that sellers think the purpose of the "open house" is to sell their home. Spoiler alert: it's not. The primary purpose of an open house is for the agent sitting in the home to convert uncommitted buyers into future buyer clients. If only sellers could hear how many times this conversation takes place,
Agent: "So what did you think of the home?"
Buyer: "It's not for us. Thanks."
Agent: "Well, there's a great home a couple streets over that might interest you. Would you like me to set up an appointment and meet you there once I get done here?"
Buyer: "Sure. I guess."
It still boggles my mind that sellers think the purpose of the "open house" is to sell their home. Spoiler alert: it's not. The primary purpose of an open house is for the agent sitting in the home to convert uncommitted buyers into future buyer clients. If only sellers could hear how many times this conversation takes place,
Agent: "So what did you think of the home?"
Buyer: "It's not for us. Thanks."
Agent: "Well, there's a great home a couple streets over that might interest you. Would you like me to set up an appointment and meet you there once I get done here?"
Buyer: "Sure. I guess."
I agree with Jeff. In this day of the internet more are searching on line. This makes photography key to presentation. Many sellers understand this which explains how fewer FSBO's there are
I agree with Jeff. In this day of the internet more are searching on line. This makes photography key to presentation. Many sellers understand this which explains how fewer FSBO's there are
I have sold several homes to buyers who came to open houses, but it is rare. The internet presence, with top of the line photography, is the key today.
I have sold several homes to buyers who came to open houses, but it is rare. The internet presence, with top of the line photography, is the key today.
Asa a REALTOR® I can assure you that open houses are the most over-rated marketing tool in residential real estate. There is no correlation between the number of open houses and the probability of a home selling. They are a hangover from the days before people could see interior photos on the computer. To answer the original question, most agents are ecstatic when they have 15 people (or couples) attend their open house. (The average attendance rate varies widely in different geographic areas and different price ranges. Houses that have been properly staged have an advantage in drawing lookers.)
Seller should be more concerned if their house is priced properly not about open houses. If it has been on the market over 2 weeks with no contract the market is telling you something.
Asa a REALTOR® I can assure you that open houses are the most over-rated marketing tool in residential real estate. There is no correlation between the number of open houses and the probability of a home selling. They are a hangover from the days before people could see interior photos on the computer. To answer the original question, most agents are ecstatic when they have 15 people (or couples) attend their open house. (The average attendance rate varies widely in different geographic areas and different price ranges. Houses that have been properly staged have an advantage in drawing lookers.)
Seller should be more concerned if their house is priced properly not about open houses. If it has been on the market over 2 weeks with no contract the market is telling you something.
I feel the same as most of the other agents. Open houses, if anyone comes, might help the agent catch a new buyer client. I haven't found open houses to be worthwhile thru out my 10 years in the biz. I have that conversation with my sellers up front. If they want me to hold them I will be they shouldn't be surprised if it doesn't bring a buyer. Same with broker luncheons. Realtors love to eat and when it's free even better. Have a luncheon with the Hamburger Man and half the Resltors in Dallas will come for lunch .., but they won't be buying the house, just socializing and eating for free. If u want your house to sell make sure it "sparkles", that it has great exposure (MLS, websites, good google search placement) and is priced right.
I feel the same as most of the other agents. Open houses, if anyone comes, might help the agent catch a new buyer client. I haven't found open houses to be worthwhile thru out my 10 years in the biz. I have that conversation with my sellers up front. If they want me to hold them I will be they shouldn't be surprised if it doesn't bring a buyer. Same with broker luncheons. Realtors love to eat and when it's free even better. Have a luncheon with the Hamburger Man and half the Resltors in Dallas will come for lunch .., but they won't be buying the house, just socializing and eating for free. If u want your house to sell make sure it "sparkles", that it has great exposure (MLS, websites, good google search placement) and is priced right.
Candice, 60 to 100 people, that is a dream! I will do an open house if a Seller requests me to, but I am always anxious about their personal items, opening your house to complete strangers is scary. I have had a bad experience with the notorious 'open house' thief coming to one of my open houses a couple of years ago. I locked up and left after he finished touring the house, it made me so uncomfortable I could not stay any longer. I know some agents enjoy doing open houses and have had success with them.
Candice, 60 to 100 people, that is a dream! I will do an open house if a Seller requests me to, but I am always anxious about their personal items, opening your house to complete strangers is scary. I have had a bad experience with the notorious 'open house' thief coming to one of my open houses a couple of years ago. I locked up and left after he finished touring the house, it made me so uncomfortable I could not stay any longer. I know some agents enjoy doing open houses and have had success with them.
As a professional real estate stager my experience has been once the home is staged and photographed , if it is priced right there is an offer that first weekend regardless of open house. Agents are always calling me to see what I am working on before it goes into MLS so quite often I'm trading agent names and the property is sold before we even get it into MLS.
As a professional real estate stager my experience has been once the home is staged and photographed , if it is priced right there is an offer that first weekend regardless of open house. Agents are always calling me to see what I am working on before it goes into MLS so quite often I'm trading agent names and the property is sold before we even get it into MLS.
Candy, I have had a HUGE success with Open House 'Events'!! I have sold several high end listings as the direct result of these events. The key is getting the pre-marketing out to the right potential buyers well in advance of the event, building up the anticipation, and then holding an extraordinary event. Your advertising also helps with this step tremendously by the way! I just did one this past Sunday on 5618 Harbor Town, had the live music, food, refreshments, and had nearly 100 people…we now have several interested parties and second showings with their agents this week as a result, and most likely a forthcoming offer. These events are great ways to showcase the Luxury homes best attributes….which a lot of times is geared towards entertaining. I just sold the home next door to this one, in January this year, and we found that buyer at the Open House event as well. Maybe Open Houses are not for every agent, and I agree they are not effective in the majority of markets, but for certain properties, in certain areas and price points, and especially on highly unique homes….they are an extremely effective way of getting interested parties into the home that may not be currently working with an agent, or actively looking with an agent, but maybe have just been waiting for the right home to hit the market. My job is to get the word out and try to capture that person.
By the way: my next Open House Event will be at 17412 Pauma Valley in Bent Tree North on Sunday, March 9th, from 12-4pm! (listing goes in MLS on March 1) . Listed at $1,899,900. 8363 SF, 5 Bed/7.3 Baths/3 Car on 1.2 Acres backing to a Pond. Everyone is invited!
Candy, I have had a HUGE success with Open House 'Events'!! I have sold several high end listings as the direct result of these events. The key is getting the pre-marketing out to the right potential buyers well in advance of the event, building up the anticipation, and then holding an extraordinary event. Your advertising also helps with this step tremendously by the way! I just did one this past Sunday on 5618 Harbor Town, had the live music, food, refreshments, and had nearly 100 people…we now have several interested parties and second showings with their agents this week as a result, and most likely a forthcoming offer. These events are great ways to showcase the Luxury homes best attributes….which a lot of times is geared towards entertaining. I just sold the home next door to this one, in January this year, and we found that buyer at the Open House event as well. Maybe Open Houses are not for every agent, and I agree they are not effective in the majority of markets, but for certain properties, in certain areas and price points, and especially on highly unique homes….they are an extremely effective way of getting interested parties into the home that may not be currently working with an agent, or actively looking with an agent, but maybe have just been waiting for the right home to hit the market. My job is to get the word out and try to capture that person.
By the way: my next Open House Event will be at 17412 Pauma Valley in Bent Tree North on Sunday, March 9th, from 12-4pm! (listing goes in MLS on March 1) . Listed at $1,899,900. 8363 SF, 5 Bed/7.3 Baths/3 Car on 1.2 Acres backing to a Pond. Everyone is invited!
Been doing opens for years! MORE IF PRICE UNDER ABOUT 500 K TO MAYBE 800000 IN THIS MARKET. OPENS POOR OVER THOSE $$
Been doing opens for years! MORE IF PRICE UNDER ABOUT 500 K TO MAYBE 800000 IN THIS MARKET. OPENS POOR OVER THOSE $$
Not every Realtor® lists properties in ultra-chic, ultra-desirable, ultra-hip neighborhoods where they draw dozens of visitors to an open house. No, the vast majority of us work hard to sell the houses of normal every day folks. Those folks have come to understand that part of the package of listing a home is that there will be open houses. While Realtors understand that they are mostly a mechanism for us to add to our database, we do them more as a courtesy to our clients. In fact, most open houses aren;t even done by the listing agent. They are farmed out to new agents and those who need to add to their contacts. Not all of us are named brokers who are "mind boggled" by why open houses happen. We are just working men and women trying to make a living and doing what we can to further the image that we actually work and not just roll our eyes in distain at those who do.
Not every Realtor® lists properties in ultra-chic, ultra-desirable, ultra-hip neighborhoods where they draw dozens of visitors to an open house. No, the vast majority of us work hard to sell the houses of normal every day folks. Those folks have come to understand that part of the package of listing a home is that there will be open houses. While Realtors understand that they are mostly a mechanism for us to add to our database, we do them more as a courtesy to our clients. In fact, most open houses aren;t even done by the listing agent. They are farmed out to new agents and those who need to add to their contacts. Not all of us are named brokers who are "mind boggled" by why open houses happen. We are just working men and women trying to make a living and doing what we can to further the image that we actually work and not just roll our eyes in distain at those who do.
Interesting and surprising commentary on this topic. From a consumer standpoint, and commercial real estate experience, i would have to say the quality of the open house might well depend on the work of the agent and broker and on the price point of the home. Having most recently attended a lovely open house, where Candy was also present, hosted by Kelly Logsdon-Rush with Ebby Halliday, my guest and I were amazed at the turn out. The home was staged beautifully and at any given time, there were more than 40 people touring and talking about the home. Seemed to be quite a successful open house on a lovely Tuesday evening in Dallas.
Interesting and surprising commentary on this topic. From a consumer standpoint, and commercial real estate experience, i would have to say the quality of the open house might well depend on the work of the agent and broker and on the price point of the home. Having most recently attended a lovely open house, where Candy was also present, hosted by Kelly Logsdon-Rush with Ebby Halliday, my guest and I were amazed at the turn out. The home was staged beautifully and at any given time, there were more than 40 people touring and talking about the home. Seemed to be quite a successful open house on a lovely Tuesday evening in Dallas.