But Los Angeles Open houses DO sell houses!
Posted by Jenny Durling on Sunday, May 31, 2009 at 6:40:40 AM By Jenny Durling / May 31, 2009 Comment
I love reading posts on Active Rain. J Phillip's post - The Great Open House Debate inspired me to write my own post about open houses from a completely different perspective. There are differing opinions on the usefulness of open houses. Some agents say an open house does nothing for the seller but is simply a tool for the agent to pick up buyers. Granted, a buyer may not walk in the door and write and offer on that particular house, but it doesn't mean that someone who comes to the open house won't end up buying it. Here's my point: There are a lot of homes on the market. Many homes in Silver Lake, Echo Park, Los Feliz and the surrounding areas I work, do not have lockboxes. If you list such a home, there's a lot of work involved in setting up appointments and personally showing properties to buyers and their agents. (Fodder for a later post, no doubt)! Enter the Sunday (or Saturday, or weekday evening for that matter) open house! Voila! • You don't need to make any appointments. • If there are able and willing agents in your office who'd like to hold your listings open to pick up some buyer, you don't even need to host the open house yourself. • A lot of buyers can all be "handled" in one fell swoop by having the house open to the public. • For every agent and buyer that attends the open house, that's one less appointment you'll need to schedule. How is that for saving yourself time and energy? Personally, I work with a lot of buyers. It's terrific when I can tell my clients "the house will be open on Sunday from 2-5- let's go take a look at it then". There's less work for both agents. I don't need to call the listing agent for an appointment, the listing agent doesn't have to call the seller to check their schedule, and the seller doesn't have to constantly pick up and leave the house for buyer visits without a lot of notice. That's not just a win-win, that's a win-win-win! Another huge plus for us as agents- We can only see so many houses on broker's caravan and some listings are not even open on broker's caravan. If you want to stay on top of your game and be an expert in your area, you must know the inventory. Visiting open houses on the weekend affords you this opportunity. I will see houses even if I don't currently "have a buyer" for that particular property. I need to know what's on the market, see what the house is truly like (virtual tours and online photos can conveniently leave out the "down side" to any property), and be able to accurately compare one house to another to keep my knowledge base current. Whether you represent buyers or sellers or both, you need to truly know your comparables in order to have a handle on pricing. Hmm- how did this photo get left out?! So agents- if you think open houses are a waste of time and not making you any money, think again. There are a lot of agents out there like me. I am going to your open houses, I am sending buyers to your open houses and eventually I am able to SELL these properties BECAUSE of your open houses. It may be three degrees of separation- but when escrow closes, can you honestly say that holding your listing open did not get the house sold for your client and put money in your pocket? Maybe it's time for a new perspective! Jenny Durling Broker Associate L.A. Property Solutions 213-215-4758 info@LApropertySolutions.com LApropertySolutions.com