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Do Open Houseís Sell Homes?
If you are a real estate agent then an open house is a prospecting tool rather then a way to sell the home they are showing. There are many reputable real estate agents that wonít host their own propertyís open house. They opt for a newer agent to take on the job.
It is common for a listing agent to pass the job on to someone else even though they could be there if they wanted to be and keep all of the commission. They are offering half of their commission if the hosting agent sells the home. Real estate agents donít feel that an open house is how a home is commonly sold to someone so this act isnít considered high risk.
Despite this fact agents who tell you to hold an open house are doing it for two main reasons. Agents want to prove that they are doing everything in their power to sell your property even if they know it isnít highly effective for the seller. Mainly they are suggesting you hold an open house to use as their personal prospecting tool.
During an open house a dozen couples that are looking for a house come to your home and begin by signing in with their names and telephone numbers. This may seem like an opportunity for you but it is more for the agent. The main reason is to get a list of prospective buyers to work with. The majority of the couples that come by will be looking for homes that arenít anything like yours.
Basically it isnít expected that an agent will actually sell your home during the open house process. Many real estate agents have confessed that they havenít sold a single home through an open house, but have obtained names and numbers of prospective home buyers and successfully sold them other properties.
This doesnít mean that it never happens because it does, just not very often. When it comes to selling real estate every bit of exposure will increase your odds of selling. Just keep in mind that it is more about being an effective prospecting tool for your agent rather than being all about selling your home.
For some families it may or may not be worth the trouble. Some families find it difficult to get a time frame set up to hold an open house because of their busy lifestyles. Other may have plenty of free time and are more than willing to do whatever it takes to get a qualified buyer interested in their home.
The homeownerís who do decide on an open house to increase their odds of a successful sale should hide all of their valuables and breakables before guests come over. Some agents request that you leave your valuables on display to give the home a nice appearance but donít listen to them. It is likely that parents will bring their children. If you decide to leave things in their place then it is recommended that you set up a camera because neither you nor you hosting agent can watch everyone all the time.
You may wish to contact Joe and Colleen Lane, Realtorsģ for more info on real estate, especially in the areas of Pasco Wa Real Estate, Richland Wa Real Estate, and surrounding Southeastern Washington Communities.
About the Author: Published by author Spencer H. The Lane Real Estate Team services Tri City Wa Real Estate, Kennewick Wa Real Estate.