Secrets Of The Real Estate Open House
By Steven Gillman
A real estate “open house” is often pushed on you by an agent, as a good way to sell your house. However, it really isn t very effective in most cases. Before preparing for an open house, then, ask yourself if you really want to have one.
The open house is a primarily a prospecting tool for the agent. Experienced real estate agents who already have many clients often won t even host their own open houses. Less experienced agents host them, as I did many times as a new agent. Of course, the listing agent gives up a good chunk of his commission if the hosting agent sells the home. You have to wonder if he would give away that opportunity if homes were commonly sold from an open house.
The first open house I hosted was a lakefront home. It was too expensive for most of the visitors that came. But they wanted to dream. Meanwhile their kids ran around the home and yard, getting in the seller s things. I ran around trying to keep track of where everyone was.
My office manager explained that it was okay that I didn t sell the house, and that selling the home wasn t the point. What was the point? To get a list of a dozen prospective buyers and their phone numbers - all those who had signed in at the open house. Knowing what some of them were looking for, I could possibly find a home to sell them now.
Back to the original question: Do you want to let dozens of people who aren t qualified to buy your home track their muddy feet through it? Perhaps not. It is a tool for agents, and a way for them to prove they are doing everything they can to sell your home, but it doesn t necessarily help sell it.
Naturally, any additional exposure of your home can increase the odds of selling it. With that in mind, you might decide that you do want those muddy feet in your home. In that case, prepare in a way that protects your home and helps sell it.
Preparing For Your Open House
Hide the valuables - no matter what they say, an agent can t watch all the visitors all the time. Put easily-broken things somewhere safe - parents bring kids. Put a good rug at the door, and consider a sign that reads, “Please wipe your shoes before entering.” This at least shows that you take care of the home.
Make a list of answers to the most likely questions, and give this to the hosting agent. See if he has any other questions. Tell him about any unusual features of the house, or anything he may not already know.
Clean the house, of course.
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Copyright Steve Gillman. To see a photo of the house we bought for $17,500, get a free ebook on how to buy Cheap Homes, and more, visit: http://www.HousesUnderFiftyThousand.com
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