As a tool to sell houses – at least the houses in which they are held – open houses are fairly useless. The appearance of activity doesn’t mean actual activity is taking place.
Those who find the most success holding open houses do so not in selling the homes they are presumably trying to sell but rather in capturing buyers for other nearby listings and in getting listings from neighbors impressed by how hard these intrepid agents allegedly are working.
Watch enough sales strategy tapes and you’ll see that most of the advice given has nothing to do with the actual house being held open. The house is a vehicle for the agent to add to their sphere of contacts.
It strikes me, though, that if you are going to use a home you’re listing as a vehicle to attract business from the neighbors then you ought not insult those same neighbors.
Over lunch with a past client, she told me she had visited an open house two doors down. When she went to introduce herself the agent said something akin to, “I know who you are. You’re the ones who drove down all the property values here.”
Well now …
It’s probably not coincidence that the agent owns a home around the corner from my clients. I’ve written in the past that it’s not always the best idea to list your homes with agents who live in your subdivision; you hope they’re professional but you never know if they’re calculating their own property value in the back of their head as they list your home.
(This isn’t an issue if you’re in my neighborhood … I’m never going to move again so, frankly, your one sale now isn’t going to make much difference to my estate in a few decades.)
Whose interests are you representing when you hold open a house with the intent of gathering buyers and future listings?
Whose interests are you representing when you stubbornly hold to 2005 prices in hopes of maintaining your own paper gains even in the face of overwhelming evidence the market has changed?[tags]Phoenix real estate[/tags]