OPEN HOUSES AND THE SHOWINGS OF HOMES FOR SALE

Open houses and the showing of homes for sale I something that many home sellers encourage. Obviously they want buyers to look at their home for sale, but there is such a thing as quantity of buyers and quality of buyers. It is not as if homes for sale have never found a buyer from an open house, but most homes do not sell in this way. Most homes today sell when a buyer’s broker has scheduled a time for them to bring their buyers over for a “showing”. There is a big difference between a showing and an open house. And that is where the difference between a quality and a quantity buyer becomes apparent. Open houses are famous for attracting a large number of walk-ins. The seller comes back and their broker reports to them that there were 15 groups in to see the property. No doubt the seller is happy. But did their broker get an offer. Probably not. Most if not all of those groups were just driving by, neighbors, or people just wanting to get decorating ideas. Those are what you call quantity buyers. When a broker brings their buyer to a showing, these buyers are quality buyers. These are really and truly buyers in the market to buy a home. So the choice is yours. Do you want quality or quantity?

Another important factor with open houses today is  SAFETY. There are actually people out there that make open houses a profession. And it is not an honorable one. They are there to steal. Get anything they can. The agent holding the open house may try his best to keep an eye on everyone, but many times it is impossible. There may be two groups in the home at one time. Most agents may be lead to believe they are unrelated. They are not. They are working together. One group keeps the agent in conversation and the other spreads out and goes to work. On the flip side of this is when an agent brings a client to the property for a showing. Many times the homeowner is present, but if the home is on a lock box, anyone entering your home is recorded on the lockbox and the time. So it may make the seller feel good that they had many people to an open house, but was it worth it. Did they get a sale or did they find things missing.