Click Here

REALTOR® Magazine Online: The real estate professional's business support tool.

ADVERTISEMENT
OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  October 15, 2007  |   Is the Open House What It Used to Be?
While 80 percent of home buyers used the Web to search for properties, only 42 percent visited open houses last year, reports the NATIONAL ASSOCIATION OF REALTORS®. But does that mean open houses are a waste of time? Depends on whom you ask.

Broker John Hodnett, of Lilia Delman Real Estate in Coastal Rhode Island, has only held one open house in his 16-year real estate career. He says serious buyers tend to view properties online and make appointments to tour the specific properties that truly spark their interest.

On the other hand, open houses often are frequented by people who simply want to see what a home looks like with no plans of making a purchase.

However, Hodnett notes that some sellers demand open houses because they want to know their agent is working hard to sell the home.

Real estate practitioners who believe in the benefits of open houses say they allow buyers to view properties without having to make an appointment or work with a real estate agent.

In a modern twist, some agents are scheduling the events at nontraditional times, tantalizing prospects with refreshments, and working with competitors to organize multi-agency tours. Advocates say this marketing tool also provide a means for agents to develop relationships with prospective buyers, who often go on to work with them to purchase a different home.

Source: RisMedia.com (10/10/07)

© Copyright 2007 Information Inc.

Browse all of today's news
E-mail this page to a friend
Give us feedback

Search news
 Launch my search
 
Subscribe to news
Subscribe to News
Daily and weekly real estate news, trends, NAR press releases, convention coverage, plus exclusive features and columns.

RSS Feed
Get the Daily Real Estate News delivered straight to your desktop or news aggregator. (New to RSS? Learn the basics here.)
 
 
SHARE YOUR INSIGHTS
How did you sell it?
Tell us how you overcame hurdles to sell a challenging or very unique listing!